Creditflux

CarVal’s independence backed by five-year Cargill loan
CarVal Investors’ management buy-out from parent company Cargill will be financed with a five-year term loan from Cargill alongside equity contributions by management, documents seen by Creditflux reveal.

Carval fashions 'flexible' global multi-strategy credit hedge fund
The open-ended fund will focus on non-control strategies including corporate securities, liquidations, loan portfolios and structured credit 

US CLO round-up: something old, something new, GSAM returns with newcomers too
GSAM is back pricing CLOs after 12 years away, while relative newcomers make swifter re-entries in the CLO market 

CarVal and JP Morgan team up for third new CLO in just over a year
CarVal CLO management priced its third new issue US CLO in 13 months yesterday, according to market sources. 

Junior debt investor looks to flip recently-priced CarVal CLO
Pancake Day brings double Bs from a CarVal CLO which is hot off the stove

Senior CLO spreads tier up as CarVal prices its second deal
US CLO spreads remain dispersed in the opening weeks of 2019 with CarVal Investors pricing a CLO which saw triple-A debt price with a coupon of 148 basis points

CarVal and JP Morgan post mezz price talk as $734.4 million new issue hits the market
CarVal Investors is marketing its second CLO since its debut transaction in May last year

US pension fund's credit performance stumbles with 2.3% 12-month return
Maryland State and Retirement & Pension System, the $51.9 billion public pension fund, generated 2.31% returns from its credit portfolio for the fiscal year to June 30, down from 10% the year before

CarVal prices debut US CLO with triple A coupon hitting 116bp
The CLO universe welcomed a new manager on Tuesday as CarVal Investors priced its first ever transaction

CarVal closes fourth distressed credit fund at $3 billion hard cap
Minneapolis-based CarVal Investors has held a final close for its fourth credit value fund – CVI Credit Value Fund IV (CVF IV), hitting its hard cap with $3 billion capital commitments

JP Morgan looks to bring a second new manager to the CLO market
JP Morgan is planning to bring its second new CLO manager to market within weeks

CarVal distressed specialist departs after three and a half years in London
Maxime Hennequet has left CarVal Investors after more than three years at the firm, Creditflux has learned

Minnesota pension fund looks to commit $535 million to 'private credit'
Minnesota State Board of Investments has recommended investments worth $535 million to private credit, according to board documentation seen by Creditflux

CarVal draws $280 million in a year for international credit fund
The CVI International Credit Fund, which launched in 2011, has now made sold a total of $1.3 billion from US and non-US investors

US credit manager hires loan specialists with a view to building CLO business
A firm best known for investing in distressed credit has brought in two loan specialists amid rumours that it may be launching a CLO business next year

New CarVal distressed credit fund reaches $2.36 billion
Alternatives manager CarVal Investors has raised $2.36 billion for its new vehicle CVI Credit Value Fund IV, according to regulatory filings

Asian airline operator approves $30 million ticket for new CarVal credit fund
US credit strategies continue to attract capital from Asian investors with CarVal Investors the latest asset manager to distribute a fund in the continent

East coast pension fund commits $50 million to Carlyle private credit fund
The New Hampshire Retirement System has committed to invest $100 million to Carlyle Group, including $50 million to a private credit fund

UBS emerging market credit trader tipped to join buy-side firm
Credit manager thought to be hiring emerging market credit trader who recently left UBS 

Goldman's co-head of distressed debt leaves for buy side in exodus
Co-head of distressed debt at Goldman moves to the buy side

CarVal hires high yield duo from US credit manager
US asset manager hires new head of high yield trading and trader to Minneapolis offices 

Managers earn support as they each aim for $4 billion credit funds
Two established credit managers are aiming to raise $2 billion each in capital for direct lending and distressed debt. A US pension fund has supported both causes with $30 million

Credit hedge fund manager pulls in $100 million for new fund
A recently launched fund focused on distressed and deleveraging opportunities has grown to $1.1 billion in size