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CLO managers brace themselves for Acosta bankruptcy
2 days ago
CLOs hold $402.5 million exposure to Acosta, a sales and marketing agency that is looking likely to file for Chapter 11 bankruptcy soon. A total of $163.7 million of Acosta’s term loan left the hands of CLOs in 2019Canadian pension awards €300 million to middle market real estate debt
2 days ago
Canada Pension Plan Investment Board (CPPIB) has awarded €300 million to a separately managed account focused on real estate across Spain and Portugal. The pension fund did not name who this partnership was withThe Last Tranche with THL’s Herzig: loan bifurcation and the direct lending safety net
10 days ago
For Creditflux's Last Tranche podcast, THL Credit’s Michael Herzig joins Hugh Minch and Seth Brumby to talk, among other things, about bifurcation in the US loan market, why some borrowers might suffer refinancing woes and how large direct lending funds can step in to provide financing to even large-cap companiesWe didn’t take full advantage of volatility
The Creditflux CLO Census found that CLO arrangers and investors were more bullish than managers, who accepted they could have done more to capitalise on loan volatility late last year14 days ago- European corporate loans can fit into various fund types and this year there has been an increase in managed accounts targeting these assets. But CLOs are still the best structures to house loans14 days ago
They said it: "Risky unmarked things are not not-risky. It will end in tears"
In response to a Creditflux article published on 23 October ('NEPC sees bias towards private markets despite lower return expectations'), an anonymous comment warned of the dangers of direct lending.14 days agoEstablished firms say managers new to European CLOs will struggle to attract assets
14 days ago
New managers making their way in the European CLO market may have a fight on their hands, with sources noting the difficulty these firms face in getting sizeable allocations.Analysts have interpreted the IG credit risk premium in various ways — but the point is to harvest it
14 days ago
Selling CDS protection could be the most effective way of capturing excess premiums in investment grade creditThe manager, not the market, decides value in direct lending
14 days ago
Mid market loan spreads are contracting, but that’s a reflection of low volatility not excess cashInflows boost structured credit mutual funds
14 days ago
Low rates have seen loan mutual funds battle $42 billion of outflows this year, but structured credit funds have been able to grow while capitalising on this volatility, according to sources.- A new generation of AI tools is helping CLO managers optimise their portfolio selection and trading strategies. Sky Road has made great strides in this area by creating a tool which helps identify trades14 days ago
Fund performance
14 days ago
A round-up of fund performance click here.CLOs at a glance
14 days ago
A round-up of CLO performanceCBOs aren’t fixated on interest rate moves
17 days ago
The loan sell off at the start of this year highlighted that CBOs are not a play on interest rates or bond prices — they’re taking advantage of the flexibility to rotate between loans and bondsFew CLOs charred by Murray bankruptcy
20 days ago
25 CLO managers hold $389.6 million exposure to the debt of coal company Murray Energy Holdings, which filed for Chapter 11 bankruptcy in the Southern District of Ohio on Tuesday, according to the latest trustee reports from CLO-iCLOs' risk to Japanese banks 'subdued' despite ratings and mark-to-market risk, says Bank of Japan
28 days ago
The risk to Japanese banks posed by their investments in CLOs is ‘subdued’, according to the Bank of Japan Financial System ReportNEPC sees bias toward private markets despite lower return expectations
29 days ago
NEPC sees private markets in 2020 as a way for institutional investors to withstand volatility, said its director of asset allocation, Phillip Nelson, during a Q3 update yesterdayUS CLO's anchor equity on sale for first time
1 month ago
The 23rd anchor equity position in a US CLO has been listed on the secondary market today, with $36.875 million of Anchorage Capital 6,up for sale at 1.30pm New York time.Kroll fires back at ‘factual errors’ in WSJ CLO rating report
1 month ago
Kroll Bond Rating Agency has hit back at the Wall Street Journal article that suggested the firm gives higher ratings to CLOs than its competitorsBlueMountain starts new chapter as co-founder leaves and it winds down hedge fund
1 month ago
There are sweeping changes taking place at BlueMountain Capital Management, with the firm announcing that co-founder Stephen Siderow is leaving and that it is winding down its flagship hedge fund, BlueMountain Credit Alternatives FundDeluxe bankruptcy causes picture to blur for CLOs
1 month ago
CLO managers hold $598 million of the video services company’s term loan, according to the latest trustee reports from CLO-iFor a while, it seemed like every private equity fund was launching a credit fund
Trent Webster, Senior investment officer for strategic investments, State Board of Administration of Florida, takes our credit quiz1 month agoFund performance
1 month ago
A round-up of fund performanceUcits at a glance
1 month ago
A round-up of ucits fund performanceCredit funds at a glance
1 month ago
A round-up of fundraising and people moves in credit
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