- Direct lending (1159)
- Emerging markets (137)
- High yield bonds (958)
- Investment grade credit (349)
- Structured credit (423)
- CLO (3149)
- Distressed debt (558)
- Credit derivatives (555)
- Leveraged loans (754)
- Marketplace lending (30)
- Real assets (222)
Europe outshines US despite caution on inflows and second wave13 hours ago
A week characterised by lower volatility and awash with returning European high yield issuance is ending on a cautious tone, with the US market on holiday and 'second wave' covid concerns bringing a pause to the credit rally
CEO Wriedt to part ways with DFG and launch his own business1 day ago
Oliver Wriedt is stepping down from his role as chief executive officer of DFG Investment Advisers to launch his own investment venture, according to an investor letter seen by Creditflux.
Madison Capital refi points the way for cost-cutting in CLOs1 day ago
A new development has opened up in the CLO market as Madison Capital refinanced the fixed rate notes of its 2018 deal MCF CLO VIII
Calpers plans $80 billion leverage play to boost returns1 day ago
California Public Employees’ Retirement System has outlined plans to boost returns for its nearly $400 billion portfolio in the long term. But the proposal, dubbed ‘towards a 7% solution’, has come under criticism
Governance has greatest impact on short-term changes in company valuation out of ESG factors, finds MSCI1 day ago
Governance has more impact than environmental and social factors on company financial fundamentals and stock price in the short term, but ‘E’ and ‘S’ play their part over the long term, according to analysis from MSCI
Redding Ridge CLO trumps Volcker rule to secure 10% bond bucket1 day ago
Bond buckets have made a surprise early comeback into US CLOs, with Redding Ridge Asset Management last month issuing the first new issue, RR10, with a 10% allowance for secured high yield assets
Palmer Square eyes talf-eligible CLO after Fed clarification1 day ago
Palmer Square Capital Management is said to be exploring its options for issuing a term ABS loan facility (talf) eligible static CLO
Liberty pulls off successful equity b-wic auction1 day ago
The first successful equity b-wic following the pandemic selloff took place last month, with several sources telling Creditflux that insurance company Liberty Mutual was behind the auction
Sidecars give CLOs a shot at driving restructurings1 day ago
A number of CLO managers are shifting defaulted assets into sidecar vehicles before their transactions close - and sources say a growing number of debt investors are warming to the idea
Primary equity investor shortage fuels issuance fear1 day ago
A lack of demand for primary equity could lead to a drought of new CLO issuance in the second part of this year
Fund performance: CLO funds keep up the momentum for second month running1 day ago
May returns have been led by continued momentum from CLO funds. In the last month, funds that invest in CLO notes in some capacity have made up 90% of our top 10, while 97% of funds listed generated positive returns - an improvement of 15% on last month's figures.
Credit funds at a glance (July 2020)1 day ago
A round-up of fundraising and people moves
Ucits at a glance: Ucits recover lost ground1 day ago
The foot has come off the gas for many funds - 57% of funds did not break the 2% return barrier.
Loan slump brings managers closer1 day ago
A 19% slide in new US loan volumes last year has left CLO managers with fewer options in the primary market, and portfolio overlap between US managers has increased to 35.3% on average
Trading places: it can pay to bet on the little guy1 day ago
It’s assumed investors know how good a CLO manager is by the rate at which they trade their way through a crisis. But this time fi ve small, nimble managers are outperforming the market
2020 is a massive opportunity for change - and clinging to past achievements won't wash1 day ago
Statues don’t serve much of a purpose. It’s time to move on — and credit investors can and should be part of the movement
High yield borrowers face pressure over social data1 day ago
Two major themes of the credit market in 2020 are on a collision course: high yield issuers playing catch-up after a dearth of issuance and the Black Lives Matter movement putting the focus on the S of ESG investing
Curves and skews come back into play as CDS volumes swell1 day ago
The rapid growth of the CDS market during the coronavirus pandemic has been consolidated in the second quarter, with investors putting on trades not seen in such volume since the 2008 financial crisis.
Index tranche volumes go into overdrive as CSOs stall1 day ago
CDS index tranche trading has gathered pace during the coronavirus pandemic, putting the asset class on course for a post-2008 crisis record.
Managers prepare for new habits in post-lockdown world1 day ago
A new world beckons as lockdown measures gradually loosen; one in which consumer behaviour has changed and credit investing will have to adjust. But it won’t be as easy as compartmentalising investments into ‘covid sectors’ and ‘non-covid sectors’.
Past returns: GoldenTree CLO trades over par1 day ago
Five years ago we reported that the equity in a GoldenTree 1.0 CLO was in demand, despite the threat that its position could be marked down to zero
They said it: Can I be a bond investor and invest in Netflix?1 day ago
The response of a loan portfolio manager after we asked where should loan investors park their cash?
Canadian pension Imco outlines two-year $6 billion credit plans1 day ago
The Investment Management Corporation of Ontario (Imco) has a range of credit strategies in its sights as it seeks to deploy $6 billion in the next two years as part of the build out of a global credit platform, according to officials at the company
Points up front: Channelling Twain, Agent Smith and Mike Tyson1 day ago
Lockdown can adversely affect one’s grasp of reality, and for credit portfolio managers this has manifested itself in a penchant for quoting famous (sometimes fictional) figures
Points up front: I’m terribly sorry, I didn’t quite catch that…1 day ago
Creditflux has been running a series of webinars on CLOs and private credit, and despite the risk of unreliable technology, these have been held with few wifi-related issues...
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