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

Euro CLO league tables: Apollo blasts its way to top spot
July marked the largest month of European CLO issuance since coronavirus pandemic-induced volatility hit financial markets

LP round up: pension creates private credit bucket as Florida eyes 'best distressed opportunity ever'
There was no slowdown in credit allocations last week, wrapping up what has been an extremely busy July. $1.4 billion has been allocated to credit, it has emerged over the last seven days, according to board documentation seen by Creditflux.

Double As reach 200bp as HPS prices European CLO
HPS Investment Partners has priced its inaugural European CLO of 2020 via BNP Paribas, achieving market tights across nearly all parts of the capital stack

HPS markets largest European post-covid CLO via BNPP
HPS Investment Partners has returned to the European CLO market after 14 months' hiatus, marketing the largest European post-covid CLO transaction

LP round up: managers keep fundraising hopes high as GSO targets $7.5 billion for mezz offering
Institutional investors allocated $1.6 billion into credit this week, according to documents seen by Creditflux

LP round up: horseshoe does the trick for Pimco and other distressed managers
Institutional investors poured $2.7 billion into credit this week through 14 managers, according to board documentation seen by Creditflux

HPS CLO warehouse hit by downgrade as it reaches 8.34% triple C assets
CLO warehouses have been hit with an increasing number of triple C assets in their portfolio. And those in one CLO warehouse managed by HPS increased from 0.5% in March to 8.34% by May

Four managers join forces on gigantic £1.9 billion unitranche
The supersized transaction to Ardonagh Group, led by Ares, is the largest ever unitranche facility

CLO double Bs on sale as sub-investment grade rally fizzles out
After more than a month of rapid tightening, CLO double Bs trended wider last week by roughly 60 basis points, as the market for these sub-investment grade tranches stabilises in the mid-800s

Light at end of tunnel as S&P puts two loan issuers on creditwatch positive
Panellists at IMN's CLO and leveraged loan webinar were optimistic about the future of their markets as S&P makes first positive rating action on leveraged loan issuers since the pandemic outbreak

OC health check: US CLOs show improvement as first euro CLOs breach multiple tests
15 deals reported a breach in an overcollateralisation test last week according to the latest reports available on CLO-i, including one European CLO and 14 US broadly syndicated loan CLOs.

HPS hires from sports and entertainment financier in Los Angeles
HPS Investment Partners has appointed two managing directors from 23 Capital to the firm's Los Angeles office

Flex CLOs tap mass downgrades to fill big triple C buckets
CLO managers are being hampered by the sheer volume of corporate credit downgrades to triple C, leaving the small cluster of triple C-flex CLOs to capitalise

HPS raises $1.5 billion SME credit fund in Europe
HPS Investment Partners has closed a $1.5 billion SME credit fund known as the European Asset Value Fund II

CLOs nurse $172 million of Quorum's debt following bankruptcy - but recovery prospects look good
CLOs hold $172.9 million of the debt of US hospital operator Qurum Health Corporation, which filed for Chapter 11 in the US Bankruptcy Court for the District of Delaware last week

Four managers eye breakthrough new issue European CLOs
The European primary CLO market is showing signs of revival with four managers eyeing deals

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