Pensions - Articles - LPFA creates LGPS alternative credit manager framework

 The framework is made up of Apollo Capital Management, Ares Management, Babson Capital and GSO Capital, and will remain operational until February 2019. The successful managers were selected after a thorough tender process, which saw approximately 35 managers shortlisted to four 

  

 Following the creating of this framework, LPFA selected Apollo Capital Management as its alternative credit manager. Subject to final documentation, Apollo will oversee the LPFA’s £150 million allocation to alternative credit, including, distressed debt, real estate debt, leveraged senior loans and private lending The mandate will be unconstrained and target absolute returns by investing across a number of higher yielding debt markets. It is expected that the majority of investments will be made within developed markets; however, there is also scope for allocations to emerging markets.