The externally managed co-investment fund program will fall under the pension's Active Credit asset class.
The Canadian bank now holds 10.5% of Blue Owl Credit Income Corp. as shareholders sought to withdraw 16.8% of outstanding shares in Q3.
We highlight the investment strategy, share structure, and other details of the newly registered interval fund.
ASB StepStone Private Financing Fund will focus on senior secured financing to US middle-market companies.
The unsolicited bid comes just three days after Blue Owl Credit Income Corp. disclosed 16.8% in Q3 redemption requests.
After an unsuccessful first attempt, Cox has come back to the table with an unsolicited bid valuing Class I shares at ~13% below their August 31 NAV.
The institutional investor plans an initial $200 million allocation, citing opportunities created by redemption pressures across wealth-channel credit funds.
PIMCO Private Income Fund targets performing private credit across hard assets, financial assets, and corporate credit, including through secondaries.
The LP is also weighing the rollover of prior TAO commitments into the latest evergreen vintage, which is targeting $5-7 billion over an 18-month fundraising period.
The pension is also considering allocating to a similar evergreen credit strategy by Pemberton, in addition to a commitment to Cambridge Associates' sequel secondaries fund.
