HPS joins group of managers to upsize CLO equity with reset
HPS Investment Partners has joined the burgeoning group of CLO managers to upsize their equity tranche following a CLO reset

Global CLO pricing lab: let’s all point at that 108bp print while spreads leak out
The tsunami of CLO paper coming to market is the biggest technical factor causing spreads to widen, according to sources

Points up front: Waterway to name and brand your CLO
When taking over a CLO launched by another firm, CLO managers face a dilemma: how do you re-brand it so it’s clear it’s one of your CLOs, but not so much that it fudges your personal track record? Well, HPS Investment Partners has found a neat balance

US CLO structurer joins HPS
The destination of a CLO originator who left her job last month has come to light

Global CLO pricing lab: investors get over fatigue and embrace reset roll over
The demand for CLOs is showing no signs of slowing down after the market had experienced some fatigue at the end of the first quarter and into the second. In the last two weeks, there have been 47 CLO transactions across all forms of pricing in the three markets; led by 18 US CLO new issues

LP round up: $3.2 billion flows to 21 managers as private credit illiquidity premium holds firm
Investors allocated at least $3.2 billion to credit managers in April - and direct lending funds were in favour with Churchill and Ares being awarded two mandates

Credit fundraising: three massive European direct lending funds notch up €17.6 bn
Fundraising figures continued upwards in April as just over $24 billion was raised for credit funds, alongside $3.2 worth of allocations to credit managers. Nine funds held final closes including the largest European direct lending fund raised to date

HPS issues US CLO market's 15th single B tranche of 2021
HPS Investment Partners has become the 15th US CLO manager of the year to issue a single B tranche, bringing the total issuance of the liability class for 2021 up to $108.8 million

Bardin Hill sells European CLO business to HPS with head Snyder set to retire
Bardin Hill Investment Partners has sold its European CLO platform to HPS Investment Partners

Points up front: Revlon repayment was Bad Day at the office
Making light of a situation is a good coping mechanism when things don’t go as expected. The Revlon loan repayment saga has underlined this with court filings revealing how CLO portfolio managers reacted to what Citi purported was a ‘mistaken’ $900 million paydown of Revlon loans

Golub follows Sixth Street by suing Dyal over Owl Rock merger
Dyal Capital’s merger with Owl Rock faces growing opposition with Golub Capital filing a lawsuit

European CLO portfolio manager jumps ship to HPS
A London-based European CLO portfolio manager has moved to HPS Investment Management

HPS refis European CLO triple As at 64bp with six months of reinvestment left
HPS Investment Partners has refinanced its inaugural European CLO, Aqueduct European CLO 2017-1

Goldman markets refinancing of HPS's debut European CLO
Goldman Sachs is marketing a refinancing of HPS Investment Partners’ debut European CLO 

LP round up: pensions plan private credit pacing as strategic credit takes on "midfield" role
US pensions have allocated $1.4 billion across 22 credit funds including those managed by Angelo Gordon, Ares and GoldenTree, according to recent board documents seen by Creditflux. Meanwhile a pension fund draws parallels between strategic credit and Jordan Henderson

HPS managing director joins Ares direct lending team in New York
Ares Management has added to its direct lending team in New York

Dyal and Owl Rock in talks over merger via spac - a year after Dyal buys into direct lender
Dyal Capital Partners and Owl Rock Capital Group (a company in which it has an ownership stake) are in talks to merge courtesy of a spac which is sponsored by an affiliate of HPS (another company which Dyal has a minority equity stake)

LP round up: Monroe and Angelo Gordon beat 25 for direct lending mandate, as private credit plans brew
US public pension funds have disclosed $1.2 billion in commitments to credit focused strategies

Credit fundraising: Dubai manager gets in on the act as direct lending takes off
Shuaa launches credit fund in the Gulf as Ares, Contingency, HPS and Perceptive are among those to close billion-plus funds

LP round up: EIF backs four debt funds while Carlyle wins $1 billion
Institutional investors have allocated just over $4 billion to 27 credit managers in October board meetings

HPS closes mezzanine debt fund with $11 billion to deploy
New York-based manager HPS has held a final close on HPS Mezzanine Partners 2019

Details emerge on nature of Revlon payment 'error' and lender attitudes
Fresh details have emerged on the nature of the ‘operational error’ Citi says took place when it transferred $900 million to Revlon loan holders

CLOs stuck with $100 million of bankrupt TNT Crane's debt
14 CLO managers hold $92.5 million debt of TNT Crane & Rigging, which filed for chapter 11 protection in the US Bankruptcy Court For The District Of Delaware yesterday

Citi files lawsuit against nine more lenders over 'accidental' $900 million Revlon transfer
Citi has filed a new lawsuit against nine more asset managers regarding its transfer of $900 million to Revlon lenders, which Citi says was made mistakenly. The bank is looking to claim the money back against lenders 

European direct lending fundraising dropped 77% YoY in Q2
European direct lending fundraising figures plunged in Q2 2020, as the effects of the covid-19 pandemic were felt across the globe