{"id":42252,"date":"2015-05-20T10:03:03","date_gmt":"2015-05-20T08:03:03","guid":{"rendered":"http:\/\/beta.next-finance.net\/news\/lpfa-creates-lgps-alternative-credit-manager-framework-and-appoints-apollo-as-alternative-credit-manager\/"},"modified":"2015-05-20T10:03:03","modified_gmt":"2015-05-20T08:03:03","slug":"lpfa-creates-lgps-alternative-credit-manager-framework-and-appoints-apollo-as-alternative-credit-manager","status":"publish","type":"post","link":"http:\/\/beta.next-finance.net\/en\/news\/lpfa-creates-lgps-alternative-credit-manager-framework-and-appoints-apollo-as-alternative-credit-manager\/","title":{"rendered":"LPFA creates LGPS alternative credit manager framework and appoints Apollo as alternative credit manager"},"content":{"rendered":"<p>The London Pensions Fund Authority (LPFA) announced today that it has created a<br \/>\nnational framework that will allow other Local Government Pension Schemes (LGPS) to<br \/>\nselect from four alternative credit managers without having to complete a full<br \/>\nEuropean tender process.<\/p>\n<p>The framework is made up of Apollo Capital Management, Ares Management, Babson<br \/>\nCapital and GSO Capital, and will remain operational until February 2019.<br \/>\nThe successful managers were selected after a thorough tender process, which saw<br \/>\napproximately 35 managers shortlisted to four.<\/p>\n<p>Following the creating of this framework, LPFA selected Apollo Capital Management as<br \/>\nits alternative credit manager.<\/p>\n<p><quote>Subject to final documentation, Apollo will oversee the LPFA\u2019s \u00a3150 million allocation<br \/>\nto alternative credit, including, distressed debt, real estate debt, leveraged senior loans<br \/>\nand private lending.<\/quote><\/p>\n<p>The mandate will be unconstrained and target absolute returns by investing across a<br \/>\nnumber of higher yielding debt markets. It is expected that the majority of investments<br \/>\nwill be made within developed markets; however, there is also scope for allocations to<br \/>\nemerging markets.<\/p>\n<p>Apollo\u2019s appointment was made after a thorough two-part tender process, which saw<br \/>\napproximately 35 managers shortlisted to four, before the final selection. Apollo\u2019s<br \/>\nexpertise in alternative credit, strong investment track record and breadth of credit<br \/>\nsolutions will be essential in helping LPFA enter the alternative credit market.<br \/>\nThe tender process undertaken by LPFA has also created a national framework that will<br \/>\nallow other Local Government Pension Schemes to select any of the successful<br \/>\nshortlisted managers for similar work in the future, without having to complete a full<br \/>\nEuropean tender process.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The London Pensions Fund Authority (LPFA) announced today that it has created a<br \/>\nnational framework that will allow other Local Government Pension Schemes (LGPS) to<br \/>\nselect from four alternative credit managers without having to complete a full<br \/>\nEuropean tender process.<\/p>\n","protected":false},"author":20,"featured_media":42250,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1470],"tags":[1655,1856,1859,1651,2094,2007],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/42252"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=42252"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/42252\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/42250"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=42252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=42252"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=42252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}