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Beneath the triple C: 13 CLO loans take a dive but defaults subside to a ripple
4 days ago
22 corporate debt issuers were downgraded to triple C or below in November and December by Moody’s or S&P, out of which 13 can be found in CLO portfolios – hurting $4.55 billion of US CLO loans, €1.87 billion of European CLO portfolios and almost $80 million of middle market CLOs loans, according to CLO-i -
Onex hires former BlackRock official as European CLO head following departure
8 days ago
The appointment comes after the departure of Onex's senior-most European CLO portfolio manager Steve Baker late last year -
LP round-up: investors gift private debt and leveraged loan RFPs over holiday season
9 days ago
2020 ended on a strong note with four institutional investors increasing asset allocation to private debt or initiating private debt and leveraged loan searches. ArrowMark, Banner Ridge, BBAM, HIG Whitehorse, Monroe and Rialto were also awarded mandates -
Guggenheim expands credit trading with senior hire in New York
11 days ago
Guggenheim Securities has hired a managing director to expand its fixed income credit trading capabilities -
CLO 2021 outlook: back to the 'old' normal with volumes, spreads and structures to revert to pre-covid levels
29 days ago
Predictions went out the window this year because, well, who in December 2019 could have foreseen a pandemic devastating lives and wrecking financial markets? But the emergence of vaccines to combat the threat of the coronavirus has spurred a rally in credit over the last month. And CLO researchers expect a resurgence in 2021 with US new issue CLO volumes predicted to hit the $80-110 billion range, according to reports analysed by Creditflux. -
New valuation rules to 'severely limit' fixed income cross trades
29 days ago
Law firm Practus believes that new SEC rules will limit a fund’s ability to cross-trade fixed income investments after the regulator adopted fund valuation rules in December -
Fund performance: CLOs look to continue recovery with end of the year in sight
29 days ago
CLO funds claim the majority of positions in our top 10 -
Ucits at a glance: Year-to-date returns head for double figures
29 days ago
Ucits funds generally performed well in October as 75% achieved positive returns -
Credit funds at a glance (January 2021)
29 days ago
A round-up of fundraising and people moves -
Credit hedge funds (January 2021)
29 days ago
Monthly credit hedge fund tables -
Vaccine boosts credit as PE firms open up to bridge loans
29 days ago
The leveraged loan and CLO markets ended 2020 on a long-awaited high after multiple vaccines for covid-19 were rubber-stamped by regulators -
Napier Park flexible credit fund powers to 17.8% gains in 2020
29 days ago
A European credit fund run by Napier Park Global Capital is up 17.8% in 2020 through to the end of October to sit atop of the list of funds by that metric -
CLO issuers flex their bond muscles
29 days ago
Some panellists at Creditflux’s US CLO Investor Summit pointed to structural difficulties, but the consensus was that flexibility — particularly the ability to buy bonds — could improve performance -
Perhaps 2021 will be the first year of the next expansion
29 days ago
For 2021, our columnist is focused on Libor transitions, CLO flexibility and loan managers fighting among themselves -
All types of financing will have to incorporate ESG risks and use their real economy influence
29 days ago
Fund managers can no longer ignore, postpone or hide from measures to tackle climate change -
Cessation of activity mid-December is an opportunity to switch off… and let the mind wander
29 days ago
Welshcake is grateful for a lull in credit markets. The downtime has inspired him to dream up a CLO play -
CLOs and leveraged lending do not significantly threaten stability, finds 'congressional watchdog'
30 days ago
CLOs and leveraged lending do not significantly threaten financial stability, according to a report by the US's Government Accountability Office (also known as the congressional watchdog) released yesterday -
AlbaCore generates 55% IRR for new $1 billion dislocation strategy
1 month ago
AlbaCore Capital Group says it generated a 55% internal rate of return on its coronavirus-related European dislocation strategy from March through to November -
Highland files complaint against founder Dondero over "warning" text message allegation
1 month ago
Highland Capital Management has filed for preliminary and injunctive relief in a Texas court after becoming embroiled in a bitter row with its founder James Dondero -
Two managers beat 80 others for £660 million multi-asset credit mandate
1 month ago
The UK's Local Government Pension Scheme Central has selected two managers for its £660 million Multi-Asset Credit Fund -
LP round up: Arcmont, Ares and Sixth Street win European direct lending mandates
1 month ago
Investors have allocated around $2 billion to credit funds in recent weeks, according to board documentation seen by Creditflux. Among those to recieve allocations include ADM, Arcmont, Ares, Audax, Bain, Centerbridge, Clearlake, Goldman Sachs merchant banking, Invesco, Monarch, Oaktree, Raven, Sixth Street and Sound Mark -
Europe leads corporate credit rally, but US outperforms in CLOs
1 month ago
iTraxx Crossover has been the CDS market's outperformer this week, tightening over 30 basis points, or 11.4%, to trade at 235bp today. But in the CLO market, US deals have come out on top thanks to a BlackRock CLO that priced its double Bs at some of the tightest levels this year -
First Eagle confirms launch of credit interval fund
1 month ago
First Eagle Investment Management has announced the launch of its credit interval fund, First Eagle Credit Opportunities Fund, which Creditflux reported on in July. The vehicle will invest across public and private credit -
Mariner spin-out hires private debt specialist as CIO
1 month ago
Newmarket, which focuses on environmental and social themes, has appointed a CIO from a consultancy firm -
PGIM hires senior European lev fin PM
1 month ago
PGIM has hired the former head of European high yield and global loans at Aberdeen Standard Investments
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