Creditflux

Minnesota pension to invest $300 million in distressed and private credit funds
Minnesota State Board of Investments is set to invest $100 million in a mezzanine debt fund and $200 million in a distressed debt fund

US pension injects $300 million into mezzanine debt and high yield
Virginia Retirement System has earmarked $300 million for investments in high yield and mezzanine debt, according to a document 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

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.  

Enhanced CLOs are no more enhancing than run-of-the-mill distressed funds
Triple C-heavy CLOs that try to time the market may be paying for options they never use

HPS scores tightest print on Friday as CLO volumes soar
HPS Investment Partners stood out from the pack on Friday with some of the tightest debt execution on a day in which a huge $2.89 billion CLO paper was brought to market in the US

Controlling equity stake in 2018 CLO fails to trade in secondary market
Over 90% of an equity tranche from a 2018 Sound Point Capital Management CLO was available on b-wic yesterday but failed to trade  

Correction: US CLO round-up: newcomers make waves in CBOs and mid market
The CLO market is showing little sign of constraint as three new names entered the market last week – two debut middle market deals priced while one US CBO closed

HPS shakes things up with first three-year CLO
HPS Investment Partners has shaken up its CLO reinvestment strategy to price its first short dated-deal

Euro CLO round-up: benchmark ruffles up, but junior tranches sit tight
CLO triple A benchmark levels underwent a shake-up last week as Credit Suisse Asset Management and HPS Investment Partners brought deals to the market with first-pay tranches printing above the recent benchmark of 108.5 basis points

HPS prints triple As at 111bp in latest European new issue CLO
HPS Investment Management has priced a new CLO in Europe named Aqueduct EUR CLO 4, with triple As printing at 111 basis points over Euribor

Key figure in HPS's direct lending team parts ways with the firm
HPS Investment Partners has lost a senior member of its direct lending team in Europe

Tail wags dog as European CLOs' 108bp benchmark drags loans
European CLOs usually price on the back of where underlying loans are printing, but this year the reverse looks to be true

HPS returns to European primary CLO market with Aqueduct deal
HPS Investment Partners has priced its third new European CLO, following a €411.6 million deal arranged by Citi

HPS targets $8 billion for flagship mezzanine strategy
HPS Mezzanine Partners 2019, the firm's fourth fund in its mezzanine strategy, has won $100 million from a Louisiana pension fund 

Euro CLO round-up: five deals hit pipeline after BlueMountain keeps up momentum
BlueMountain Fuji CLO Management ended its seven-month absence from the new issue European CLO market and also broke the market’s silence this week. The firm partnered with Deutsche Bank to price its fourth deal in Europe - BlueMountain Fuji Euro CLO IV.

Keep calm and buy corporate loans
Calm heads prevailed in 2018. Markets were volatile and risk retention was supposed to cause problems, but there was no need to panic and volumes went on to break records set in 2014

Hyundai allocates $250 million to US real estate debt
Hyundai Investments has mandated $250 million to a real estate debt fund co-managed by Related Cos and HPS Investment Partners

HPS targets CLOs with new fund
The New York-based manager has raised nearly $100 million for its second opportunistic CLO fund, according to SEC filings

HPS takes leaf from Ellington's CLO book with 50% triple C bucket
HPS Investment Partners has priced its inaugural high-triple C bucket CLO via Citi

HPS markets CLO via Citi with 50% triple C bucket
HPS Investment Partners is set to become the largest manager to date to launch a CLO with a 50% triple C allowance

HPS prices first five-year CLO of the month
HPS Investment Partners has priced a $517 million reset of its 2015 deal named HPS Loan Management 5-2015

HPS expands in distressed debt by taking over Dallas-based Tålamod
HPS Investment Partners has struck a deal to bring on board the investment team from Dallas-based distressed debt specialist Tålamod Asset Management

Fair Oaks acquires control equity position in new US CLO
Fair Oaks Capital has acquired a control equity position in a new US CLO managed by HPS Investment Partners, according to a stock exchange announcement

Deutsche Bank's CLO desk wins new client after pricing HPS deal
Deutsche Bank has issued its first CLO transaction in partnership with HPS Investment Partners