Redemption requests have spiked across private debt vehicles in recent months as investors grow more cautious about the asset class.
The strategy, anchored by a Korean institutional investor, has adopted an evergreen semi-liquid structure aimed at capturing emerging credit secondary opportunities throughout the cycle.
The firm has partnered with Channel Capital to distribute its private equity and private credit secondary funds to wholesale investors.
The commencement date adjustment follows Blue Owl's request for a new notice, citing a material difference between the originally proposed and announced purchase amounts.
The open-ended evergreen fund will give institutional and private wealth investors access to direct lending, credit secondaries, fund finance, and other income strategies.
PIMCO Private Income Fund targets performing private credit across hard assets, financial assets, and corporate credit, including through secondaries.
The former Sixth Street Senior Advisor will oversee portfolio construction for the firm's solutions, including credit secondaries and direct credit.
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.
The Zenzic Real Estate Credit Opportunities Fund launched in October 2025 with an anchor investment from GCM Grosvenor.
The announcement comes as investors in Blue Owl's non-traded BDC shunned an earlier Saba and Cox Capital joint-offer to repurchase shares at a steep discount.
