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Relative to Airbus, Boeing was long accountants but short engineers
2 months ago
A qualitative approach can help investors spot boards that are too focused on short-term returns -
Fund performance: European CLO funds lead the way
1 year ago
February was a positive month for many funds, as only one quarter failed to reach the black. This builds off a stellar start to the year: 96% of funds reached a positive return in January -
"The loan market is the septic tank for sub-single B LBO financing"
2 years ago
Portfolios of single name IG CDS are less complex and more liquid than CLOs -
Fund performance: Déjà vu as April leaders dominate
2 years ago
CLO funds stayed in the top flight for another month as they took over the top 10 credit hedge fund return table in May, when 87% of all funds listed made positive returns -
Fund managers brace for EU’s new sustainability regulations
3 years ago
European fund managers were faced with new environmental, social and corporate governance (ESG) regulations in March, which enhance disclosure requirements around sustainability -
It's all relative: CLO spreads explore record tights as credit indices hit impasse
3 years ago
CLO spreads are grinding to ever tighter levels, despite a flattish week for credit in which corporate credit indices have ended up more or less unchanged -
It's all relative: CLOs are lagging no more, as Carlyle deal drags market tighter
3 years ago
“CLOs are lagging” has been a much repeated refrain over the last nine months. But Carlyle Group has this week produced a US CLO that has dragged spreads to their tightest point in three years so that, rather than comparing CLOs to pre-covid levels, they should be assessed against early 2018 -
Cessation of activity mid-December is an opportunity to switch off… and let the mind wander
3 years ago
Welshcake is grateful for a lull in credit markets. The downtime has inspired him to dream up a CLO play -
Frontier bankruptcy dials up pressure for 90 CLOs
4 years ago
Nine CLO managers hold $217 million of Frontier Communications’ debt across 90 CLOs, as the telecommunications company filed for Chapter 11 protection in the US Bankruptcy Court Southern District of New York -
Silver lining: credit investors provided with lower entry points than Q4 2018
4 years ago
Oil shocks and the coronavirus outbreak, along with aftermath effects such as US Federal Reserve interventions and lockdowns, is providing credit investors with lower entry points than the Q4 2018 sell-off, say sources. Furthermore, an expected U-shaped rather than V-shaped recovery could provide a greater money multiple for opportunistic investments - if they can access them -
ESG phenomenon leads to talk of incentive fee models
4 years ago
For asset managers that are diving into environmental social and governance (ESG) investment standards, an ugly truth is the lack of any standardised performance fees. But that could change as more investors begin picking and choosing allocations based on ESG rubrics. -
Australian pension fund hires head of ESG
4 years ago
The Australian Catholic Superannuation & Retirement Fund has appointed Louise Bradshaw to lead the pension fund’s initiatives in regard to environmental, social, and governance (ESG) investments -
Last of GSO's co-founders departs
4 years ago
It's the end of an era as GSO Capital Partners co-founder Bennett Goodman (the 'G' in GSO) will step down from the firm at the end of the year -
Cambridge University appoints CIO
4 years ago
The University of Cambridge has named a CIO who previously served at instutituions such as the BBC and Virgin -
Connecticut $36 billion pension hires first chief risk officer
4 years ago
The Connecticut Retirement Plans and Trust Funds has hired its first-ever chief risk officer -
Dutch development bank creates ESG and impact standing committee
4 years ago
The Netherlands Development Finance Company (FMO) has created a standing committee for impact and environmental, social and governance investing -
Tourists have turned high yield into a sketchier neighbourhood… IG credit could be the answer
4 years ago
Using CDS to exploit roll-down in IG credit can generate good returns even in a low-rate environment -
DC accepts New Look failure-to-pay credit event question
5 years ago
The Europe, Middle East and Africa Determinations Committee has accepted a request to rule on whether New Look has triggered a failure-to-pay credit event -
Oak Hill reshuffles leadership in Europe
5 years ago
Oak Hill Advisors has appointed three long-serving members of its investment and business development teams to lead the European office -
New manager Resco lands ex-credit head to found advisory board
5 years ago
Resco Asset Management, a London based asset manager set up last year, has appointed the first of an anticipated three advisory board members -
Regulation stifles SRTs, but banks and investors revel in quarter-four outperformance
5 years ago
Over the course of 2018 there was roughly €6.5 billion of issuance in the market for significant risk transfer (SRT) deals, sources say, with the last three months understood to be the busiest quarter on record -
First Data takeover foreshadows inflows for CLOs that hold the debt
5 years ago
CLO managers that hold portions of First Data Corporation’s $11.5 billion syndicated term debt could find themselves with lots of cash to redeploy later this year if Fiserv completes its acquisition of the financial services company -
Muzinich poaches Neuberger Berman MD for top fund distribution role
5 years ago
Muzinich has hired a global head of distribution, according to an announcement today, picking up the role previously held by Joshua Hughes, who left for CIFC Asset Management in May -
Sears CDS battle heats up as DC challenged to change auction rules
5 years ago
A high profile battle over Sears Roebuck Acceptance Corp credit default swaps has taken a new turn, with one market participant challenging the Americas Determinations Committee to change its rules to avert price manipulation by another market participant in the bankrupt retailer's credit event auction -
Cairn sheds light on single-investment SRT fund
5 years ago
Fresh details have emerged on Cairn Capital’s new significant risk transfer (SRT) funds with the manager informing Creditflux that Pathfinder Fund III was structured such with US requirements in mind
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