Emerging market CDS trading slumped in Q2, finds Emta
There was $364 billion of emerging markets CDS trading in second quarter, according to the Emerging Markets Traders Association

Cambridge University appoints CIO
The University of Cambridge has named a CIO who previously served at instutituions such as the BBC and Virgin  

Silicon Valley pension to invest $20 million in private debt
San Jose Federated City Employees Retirement System and Health Care Trust is set to make commitments of $20 million in private debt, as part of its fiscal year 2019-2020 pacing plan, according to documents seen by Creditflux  

CLO pipeline: refis can't wait till after summer
The CLO market in both the US and Europe looks to be slowing down in the near future with only two deals added to the running pipeline.  

Los Angeles pension appoints four managers for private credit mandate
Los Angeles City Employees Retirement System (Lacers) has awarded four contracts for a $670 million private credit mandate search, according to minutes from the July investment committee meeting.  

Buy iTraxx Europe equity tranche risk but sell Crossover mezz, says JP Morgan
Investors should stick with ‘search for yield’ ideas in investment grade credit, say JP Morgan credit strategists, including selling iTraxx Europe 0-3% equity tranches delta hedged, going long the 10-year Europe index, and selling credit volatility through index options while buying equity market volatility

BlueMountain buyout to bring CLO equity shift, funding pledge and Feldstein payout
BlueMountain Capital Management’s co-founder Andrew Feldstein looks set to receive a substantial pay-out in common shares of Assured Guaranty, which has agreed to buy the manager for around $160 million and has outlined a three-year plan for its CLOs

US pension scheme eyes 50 South Capital fund of funds
50 South Capital Backed Credit Fund II, a fund-of funds vehicle, is set to invest in four loan funds in small and medium size companies, according to documents seen by Creditflux  

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 

Credit traders' kickstand: volatility puts paid to primary, but pays out for relative value buyers
The persistence of credit market choppiness has brought into focus CDS/bond basis plays, options positioning, high yield dispersion and peripheral European weakness - but mainly the volatility rash has put a block on borrowers' primary market aspirations

Spire prices CLO triple As at 105bp as Euribor rates slide
Spire Partners scored Europe’s tightest triple A CLO print of the year yesterday with market sources indicating that this is a reflection of how attractive CLO tranches are given the recent drop in Euribor rates

Boston-based pension backs Searchlight distressed fund
Cambridge Retirement System, the $1.27 billion pension fund, has committed $150 million to Searchlight Capital Partners III during the second semester of 2019, according to documents seen by Creditflux.  

Lombard Odier expands sustainability team
Lombard Odier has bolstered its sustainability capabilities with the appointments of Christopher Kaminker and Ebba Lepage  

Galapagos CDS settles higher than expected despite net interest to sell
Galapagos Holdings CDS settled at a price that, while low, was nonetheless higher than had been implied by initial markets despite a net open interest among participating dealers to sell the company’s bonds

Local connections pay off as UK pension backs Tosca
Tosca Debt Capital has begun marketing Tosca Debt Capital Fund III and secured a commitment from the Greater Manchester Pension Fund, according to documents seen by Creditflux

Credit funds contribute to Hamilton Lane’s AUM growth
Hamilton Lane has announced its assets under management and advisement has hit $473 billion as of June. This comes shortly after it closed a credit fund and begun marketing another one

Galapagos CDS auction kicks off with very low initial market midpoint
Bidding in a credit event auction today to settle Galapagos Holdings CDS has produced a very low initial market midpoint, suggesting there will be a high final pay-out to holders of protection

Barings raises €1.5 billion for European direct lending
Barings has held a close for its latest European direct lending fund, receiving €1.5 billion of capital from over 45 institutional investors

CLO pipeline: US takes up baton after European July sprint
The US CLO market is ready to kickstart issuance in August as nine deals have been added to the running pipeline.

Global CLO league tables at a glance - July 2019 YTD
Global CLO league tables at a glance - July 2019 YTD

Euro CLO league tables: before the holidays is the best time to price a deal
Over €5 billion of new issue CLOs was priced last month, the first time the market ever crossed that monthly threshold

Galapagos CDS auction looms with Morgan Stanley added to participating bidders
A credit event auction tomorrow to settle Galapagos Holdings CDS will have 10 participating bidders, with Morgan Stanley having been approved by other dealers to take part

UK pension pool launches multi-asset credit search
Border to Coast, a £46 billion ($56.8 billion) partnership between 12 UK pension plans, is seeking for a core multi asset credit manager, for its recently opened multi asset credit fund  

Senior figure departs Alcentra direct lending team, Debtwire reports
Creditflux sister publication Debtwire reports that one of the longest standing members of Alcentra's European direct lending team has left the firm 

Apollo fee earnings rise 9% in Q2 as structured credit boosts portfolio
Apollo Global Management’s credit portfolio increased 4% quarter-over-quarter to $201 billion, driven by growth in affiliated life insurance firm Athene, as well as corporate credit and structured credit