Creditflux

Job opportunity with ArrowMark: research analyst
ArrowMark Partners has released details of a vacancy in its Denver office

CVC teams up with RBC for reset and upsize of 2012 CLO
CVC Credit Partners came to market yesterday with a short reset of its 2012 vintage deal Apidos XI

CLO market awaits further Volcker amendments as initial tweaks centre on prop trading
CLOs will not be impacted by changes to the Volcker rule announced yesterday, which means that rules limiting bond buckets in US CLOs will remain intact for the immediate future. Instead, regulators revealed that some of the rules around bank proprietary trading will be relaxed

Amundi Pioneer initiates marketing for structured credit interval fund
Amundi Pioneer Asset Management, a wholly owned subsidiary of Amundi, is in the market with a structured credit interval fund

CLO pipeline: Golub and Sound Point to cement positions among market leaders
Last week there were nine CLOs priced in the US market, including four broadly syndicated loan new issues and two middle market new issues, whereas there was no issuance in Europe. The CLO action over the next few weeks is again weighted towards the US, according to market sources

CLO 'mascot' appears on b-wic but fails to trade
A $2.25 million triple B CLO tranche with a mascot feature embedded appeared in the secondary market yesterday, but failed to trade.

US loan trading: Caesars marches out of CLOs as Blackstone rolls in
With $158 million of its term loan leaving the hands of CLO managers, Caesers Entertainment was the most sold issuer in June

Credit traders' kickstand: Basis and CDS curves take focus with long wait ahead for central bank direction
With almost a month to wait before the European Central Bank and US Federal Reserve hold their next decisive meetings, a bumpier and seemingly directionless road continues in credit markets as investors show little inclination to do anything more adventurous than just hold on tight

Nassau approaches $3 billion CLO volume after pricing latest new issue
Nassau Corporate Credit priced its sixth new CLO on Friday in a $404.8 million transaction named Nassau 2019-II

THL returns with second middle market CLO offering
THL Credit Advisors on Friday priced its second CLO backed by loans to middle market companies

Big questions for CDS shorters as Isda protocol countdown begins
With only a month to go until the International Swaps & Derivatives Association rolls out its protocol for narrowly tailored credit events, big net buyers of CDS protection should think hard about both its value and maintaining liquidity, says law firm Kramer Levin

Morgan Stanley plans CLO management return with senior hire
Morgan Stanley Investment Management is lining up a return to CLO management in the US with a well known hire to spearhead the charge

Aegon returns with new CLO pricing triple A tight of market
Aegon USA Investment Management has priced its second new issue CLO of 2019, known as Cedar Funding X CLO

Neuberger Berman prices first ever CLO 2.0 with Credit Suisse
Neuberger Berman and Credit Suisse have issued their first ever CLO as a manager-arranger partnership in the 2.0 era

US pension seeks private credit consultant and ESG services
New Jersey Division of Investment has launched a request for proposals (RFP) searching for hedge fund and private credit investment consultant services. It has also launched a search for environmental, social and governance (ESG) ratings, research and related services  

Texas pension to invest up to $225 million in distressed debt
Investment consultant Cliffwater recommends an annual commitment of up to $225 million in distressed debt to Texas County & District Retirement System (TCDRS), according to documents seen by Creditflux

CDX EM undergoes second rules overhaul in as many rolls
The CDX EM index will increase from 15 constituents to 18 at the next roll in September, while criteria for name inclusion and weightings are also to change

Par-Four markets first deal since forming JV for its CLO equity
Par-Four Investment Management is marketing its first new CLO since striking a deal with Jefferies and Davidson Kempner to purchase its equity

Bain garners $973 million for middle market fund
Bain Capital Credit has garnered $973.4 million its latest US direct lending mezzanine strategy, Bain Middle Market Credit 2018

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  

HPS and Nomura team up in first-time CLO partnership
HPS Investment Partners has teamed up with Nomura for the two firms' first CLO transaction as a partnership

Bain prices CLO refi as fresh supply of unrefinanced 2016 paper dwindles
Bain Capital Credit has become the latest manager to refinance a 2016 CLO after pricing a $462 million deal via MUFG

Bain scores tight print as it prices second middle market CLO
Bain Capital has priced its second CLO backed by loans to middle market companies named BCC Middle Market CLO 2019-1

Crescent BDC buys Alcentra BDC in $141.9 million transaction
As part of the deal, the combined business development company will go public and charge lower management fees

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.