http://www.creditflux.com/ en-gb Thu, 11 Mar 2010 10:44:00 UTC 60 Remaining investors will shortly redeem all the capital managed by a long-short credit hedge fund http://www.creditflux.com//2010-03-11/Manager-set-to-wind-down-longshort-credit-hedge-fund/ 2010-03-11 10:44:00 Aviva Investors announced today that it has appointed Jiten Joshi as head of knowledge services, leading a new Mumbai-based team of analysts to support the London-based credit team. Joshi reports to Mark Wauton, head of credit at Aviva’s London office. The Mumbai team will cover investment grade and high yield… http://www.creditflux.com//2010-03-08/Aviva-builds-credit-research-team-in-Mumbai/ 2010-03-08 10:37:00 A US bank's head of distressed debt trading and sales has left the firm to join a private equity fund http://www.creditflux.com//2010-03-05/Bank-distressed-trading-head-joins-private-equity-firm/ 2010-03-05 16:30:00 A London-based credit hedge fund has lost one of its most senior portfolio managers http://www.creditflux.com//2010-03-05/Structured-trader-leaves-credit-hedge-fund/ 2010-03-05 11:46:00 Credit hedge fund manager BlueMountain Capital Management has announced that it has hired Jennifer Strickland, who was previously in a similar role at HBK Capital, as managing director responsible for investor relations and marketing. It has also promoted Josh Drazen to the role of managing director for investor relations and… http://www.creditflux.com//2010-03-04/BlueMountain-hires-for-investor-relations-role/ 2010-03-04 10:07:00 A US mutual fund manager is merging one of its closed end credit funds with another fund which invest in a broader range of fixed income assets http://www.creditflux.com//2010-03-02/US-loan-manager-winds-up-credit-opportunities-fund/ 2010-03-02 14:47:00 There is an error in the credit hedge funds data on page 23 of the March issue of Creditflux, which is published today. The correct returns for the Prytania Athena Fund, listed in the ABS/CDOs/CLOS category, is as shown below and on our website at credit hedge fund data .… http://www.creditflux.com//2010-03-02/Prytania-Athena-Fund-corrected-data/ 2010-03-02 12:38:00 This month sees the addition of several new funds to our listing of credit hedge http://www.creditflux.com//2010-03-02/Structured-credit-funds-go-on-strong-run/ 2010-03-02 10:39:00 Asset manager Tricadia Capital plans to expand its business through the purchase of a publicly listed vehicle http://www.creditflux.com//2010-03-02/Tricadia-eyes-business-development-companies/ 2010-03-02 10:38:00 Babson Capital’s mammoth bank loan group has joined forces with its high yield bond and distressed debt business http://www.creditflux.com//2010-03-02/Babson-brings-teams-together-as-distressed-goes-mainstream/ 2010-03-02 10:36:00 A credit hedge fund manager is aiming to tap into the risk adverse mood among many investors by launching a dedicated short credit fund http://www.creditflux.com//2010-03-02/Successful-bear-trader-makes-new-short-credit-call/ 2010-03-02 10:13:00 Aladdin Capital has announced that it has made the final closing of two new distressed credit funds being set up as a partnership with two senior industry executives. Luke Gosselin, former head of private principal finance at Goldman Sachs, and Victor Russo, who previously led CIT’s business credit unit, are… http://www.creditflux.com//2010-03-02/Aladdin-sets-up-distressed-credit-fund/ 2010-03-02 09:48:00 New York-based distressed sales and trading head is rumoured to have left the firm to join a hedge fund manager http://www.creditflux.com//2010-02-26/Distressed-trading-head-leaves-bank-to-team-up-with-Milken/ 2010-02-26 14:30:00 PVE Capital has announced that it has increased its assets under management to over $300 million. The firm, whose flagship fund is the Matrix PVE Global Credit Fund, says it has also made several hires to take its tally of investment professionals to six. It recently took on Elena Ciampichetti,… http://www.creditflux.com//2010-02-26/PVE-Capital-adds-staffassets-under-management/ 2010-02-26 10:39:00 Bloomberg reports that Deutsche Bank’s CDO and ABS trading head Greg Lippmann may leave the bank to join a new investment firm along with his boss, US markets head Fred Brettschneider. The article does not name the new firm or say what its strategy will be. Both officials joined Deutsche… http://www.creditflux.com//2010-02-25/Deutsches-Lippman-may-move-to-buyside-reports-Bloomberg/ 2010-02-25 09:52:00 Boston-based asset manager Eaton Vance, which is one of the biggest US high yield loan investors, has announced the appointment of a new business development director for its international business. Pepijn Heins joins from Goldman Sachs Asset Management, and will be responsible for institutional relationships in northern Europe. He reports… http://www.creditflux.com//2010-02-24/Eaton-Vance-hires-for-business-development-role/ 2010-02-24 20:52:00 Stephen Zinser, chief investment officer of London-based European Credit Management, has predicted that unrated European borrowers will find it increasingly hard to access the capital markets. “Manchester United has not done any favours to unrated issuers,” he told a media briefing this morning, referring to the poorly performing recent bond… http://www.creditflux.com//2010-02-24/European-credit-investor-predicts-decline-of-unrated-bond-deals/ 2010-02-24 12:01:00 Analysis of high yield mutual fund flows suggests that the recent outflows will likely be transitory, says Goldman Sachs in latest ‘Credit Line’ research. Historical record suggests that high yield fund flows are highly sensitive to shifts in risk sentiment, with a strong correlation between inflows and lagged equity returns.… http://www.creditflux.com//2010-02-22/Net-fund-outflowsblip-nottrend-says-Goldman/ 2010-02-22 20:34:00 Fund Strategy reports that Legg Mason’s US-based fixed income unit Western Asset Management is planning to launch a ucits III credit fund. The article says that the Dublin-domiciled fund will probably be called the Legg Mason Western Global Credit Absolute Fund. http://www.creditflux.com//2010-02-22/US-manager-reported-to-be-planning-ucits-III-credit-launch/ 2010-02-22 19:06:00 Bloomberg reports that BlackRock will launch the BlackRock Asian Credit Hedge Fund in March. The fund, which will be managed by the firm’s Singapore-based head of Asian corporate credit, Neeraj Seth, will invest in both investment grade and high yield corporate debt. http://www.creditflux.com//2010-02-22/BlackRock-plans-Asian-corporate-credit-fund-says-Bloomberg/ 2010-02-22 11:15:00 UK-listed credit manager BlueBay Asset Management says it saw a surge of subscriptions into its investment grade funds in the second half of 2009. Net inflows of $6.6 billion helped take its investment grade assets under management to $18.5 billion by the end of the year. High yield and distressed… http://www.creditflux.com//2010-02-19/BlueBay-reports-big-flows-into-investment-grade/ 2010-02-19 13:33:00 High yield price rise despite data showing investors are moving out of the sector http://www.creditflux.com//2010-02-19/High-yield-traders-shrug-off-fund-data/ 2010-02-19 11:44:00 A CDO investment vehicle marked up its equity investments by more than 30% in January http://www.creditflux.com//2010-02-15/Equity-marks-boost-CDO-investment-fund/ 2010-02-15 18:11:00 Citing data from Lipper FMI, the Financial Times reports that US high yield bond funds have seen the biggest weekly outflow of funds since September 2005. The article says that in the week ending Wednesday (10 February) there was a net outflow of $984 million from high yield bond funds… http://www.creditflux.com//2010-02-15/Investors-pull-cash-from-high-yield-bond-funds-reports-FT/ 2010-02-15 12:22:00 A vehicle managed by GSO Capital sold 14 CLO equity positions from one of its vehicles at the end of last year http://www.creditflux.com//2010-02-12/GSO-vehicle-sells-CLO-equity/ 2010-02-12 11:13:00 Highland Capital Management has announced today that it has closed its CLO Value Fund I and returned the capital to investors, after it made a 138% gross return. The fund was launched in November 2008 to buy CLO debt and equity in the secondary market. http://www.creditflux.com//2010-02-05/Highland-announces-liquidation-of-CLO-Value-Fund/ 2010-02-05 10:35:00 The Financial Times reports that the SEC has sent hedge fund manager Paulson a request for information over an investigation into the way banks sold CDOs. It follows subpoenas the US regulator sent to eight dealers in December, according to the article. The article claims that Paulson, which made spectacular… http://www.creditflux.com//2010-02-03/SEC-queries-Paulson-on-CDO-shorts-reports-Financial-Times/ 2010-02-03 11:00:00 Philadelphia-based mid market lending specialist LBC Credit Partners has announced that it has closed a new fund. LBC Credit Partners II, a limited partnership, has $645 million of committed capital. It will follow a similar strategy as the company’s existing $300 million fund, investing in a variety of instruments issued… http://www.creditflux.com//2010-02-03/LBC-Credit-announces-closing-of-new-fund/ 2010-02-03 10:04:00 Although long-only high-yield funds delivered strong performance in 2009, actively traded long-short credit funds have outperformed them over the longer term http://www.creditflux.com//2010-02-01/Active-funds-outperform-in-long-run/ 2010-02-01 17:48:00 Credit specialist asset manager Alcentra is planning to launch its third US mezzanine fund http://www.creditflux.com//2010-02-01/Alcentra-plans-launch-of-third-US-mezz-fund/ 2010-02-01 17:46:00 London-based credit fund manager Credaris has recently taken over a structured finance special opportunities fund http://www.creditflux.com//2010-02-01/Credaris-takes-on-its-neighbours-fundstaff/ 2010-02-01 17:45:00 One of the biggest European pension funds has signalled its appetite for credit by putting a £400 million ($650 million) seed investment in a new global asset management business http://www.creditflux.com//2010-02-01/Pension-fund-pumps-money-into-new-manager/ 2010-02-01 17:18:00 UK-listed high yield credit manager Intermediate Capital Group said in a management statement today that it expects to make its first material investments since mid-2008 shortly. The firm, which expects to deploy between £150 million ($242 million) and £200 million of capital this year, says it sees signs of momentum… http://www.creditflux.com//2010-01-26/ICG-says-it-sees-buyouts-returning/ 2010-01-26 11:39:00 Listed credit manager BlueBay Asset Management today reported a big inflow of capital into its investment grade credit funds. The firm said it saw net subscriptions across its various funds of $3.1 billion in the quarter ending 31 December, with $2.8 billion moving into investment grade credit. This was partly… http://www.creditflux.com//2010-01-21/BlueBay-reports-big-flows-into-investment-grade-credit-funds/ 2010-01-21 09:53:00 Providence Equity Partners has announced that it has hired former GoldenTree Asset Management marketing head Oliver Wriedt for a recently established credit investment business. Wriedt is joining Providence as a managing director in its capital markets group. That business was set up in September 2008 by ex-Deutsche Bank Securities head… http://www.creditflux.com//2010-01-20/Former-GoldenTree-partner-rejoins-Deutsche-colleagues-at-Providence/ 2010-01-20 15:44:00 A US loan manager has fired the auditor of its listed vehicle amid a dispute about valuations http://www.creditflux.com//2010-01-20/US-loan-manager-in-valuations-dispute-sacks-auditor/ 2010-01-20 11:57:00 UK fund manager Thames River Capital has announced that it has hired Dahlia Verjee as part of its global credit team. She joins a team of 12 which is led by Stephen Drew, having previously traded high yield cash and credit default swaps for Deephaven Capital Management. Thames River manages… http://www.creditflux.com//2010-01-20/Thames-River-announces-credit-hire/ 2010-01-20 11:42:00 GFI’s Christopher Street Capital unit and credit hedge fund manager Credaris have announced an agreement to work together in credit. Although the announcement gives few details of the partnership, it is understood that Credaris will provide Christopher Street with input in analysing and pricing illiquid structured credit products. In return,… http://www.creditflux.com//2010-01-20/GFI-unit-links-up-with-credit-hedge-fund-manager/ 2010-01-20 11:37:00 A Singapore-based manager has launched one of the first credit opportunity funds focusing on Asia http://www.creditflux.com//2010-01-15/Manager-launches-first-Asian-credit-opportunities-fund/ 2010-01-15 09:55:00 A Munich-based asset manager has launched its second Ucits III credit fund http://www.creditflux.com//2010-01-14/Manager-launches-Ucits-III-basis-fund/ 2010-01-14 11:09:00