Creditflux

Connection backs European CLO fund
Connection Capital has invested €5.2 million in the new CLO fund raised by Permira Debt Managers  

Permira launches European CLO fund and starts with secondary market investments
Permira Debt Managers has closed its fifth structured credit fund, Sigma V, which will invest in junior tranches of European CLOs

US credit managers make ESG breakthrough after taking a first step via UNPRI
Incorporating a framework for investing in companies based on environmental, social and governance (ESG) factors is a challenge that US credit managers are accepting in growing numbers

Euro CLO round-up: smaller (and newer) issuers print deals as spreads edge wider
It has been a relatively busy week for the European CLO market after three new deals priced to end a 17- day silence in the primary market. The quiet spell was broken by smaller CLO issuers.

Permira returns to price third 2.0 European CLO
Permira Debt Managers priced its third European new issue CLO since returning to the market in February of last year and its first this year.

CLO pipeline: Barclays and Goldman branch out to mid market
The US CLO pipeline has been full in recent weeks and this continues, with 18 new issue CLOs and a further nine refinancings appearing this week.

Permira adds hire to start credit opportunities business
Permira Debt Managers is building out a unit in London to invest in special situations and credit opportunities and has hired a distressed and high yield specialist to help establish the business

Pennsylvania pension commits $150 million to European credit funds
Pennsylvania State Employees’ Retirement System approved $975 million of investments at its 24 April meeting

Maryland pension carves out private debt bucket
The Baltimore pension fund has also mandated a total of $25 million to one direct lending fund and one distressed debt fund 

Direct lenders split over best way to manage loan restructuring
Direct lenders are divided on how best to set up internally when dealing with loans that require restructuring. Some managers argue that a deal should be restructured via the original deal team

Basis between Japanese and syndicated CLO triple As may narrow, says Permira
The basis between Japanese anchor and broadly syndicated CLO triple As is likely to narrow, according to Permira Debt Managers

Alaska pension commits $545 million to seven credit funds
Alaska Permanent Fund Corporation has earmarked $545 million to funds across the credit spectrum across Q2, according to 27 February board documentation

Mezzanine notes price tight as Permira Debt produces another ESG-friendly CLO
Permira Debt Managers has priced its second CLO of the year in a deal which, much like the manager’s debut 2.0 CLO, adheres to environmental, social and governance guidelines

Permira markets second new issue since bringing ESG criteria to CLO docs
Permira Debt Managers is back in the market with its second 2.0 CLO named Providus CLO II, which could price as early as next week

Europe’s next generation of CLO managers favour ESG

PDM strengthens CLO structuring team with former Och-Ziff official
Permira Debt Managers has strengthened its CLO structuring team and hired former Och-Ziff’s Pierre Driant, Creditflux has learned

Euro league tables: Permira and Voya join the CLO bonanza
There’s been €10.5 billion of CLO issuance in the first quarter of 2018 with a debuting manager and a re-debuting manager adding their names to the growing list of CLO issuers

PDM sees no limitations as it brings ESG investing to CLO management
“We look at the level of ESG risk for every credit we buy, as if it was any other kind of risk consideration” - Permira's Ariadna Stefanescu describes PDM's approach to CLO management

Debut manager prices first ever CLO featuring ESG criteria
The CLO market has welcomed a new manager, which priced its debut 2.0 transaction via BAML yesterday

PDM liquidates CLO funds after 20% per year returns
Permira Debt Managers is liquidating two structured credit funds after generating strong returns

Past returns: Permira’s considered approach to CLO launches
This month 10 years ago, private equity firm Permira made its debut in the European CLO market

PDM hands euro CLO mandate to bank after hiring three loan specialists
Permira Debt Managers' plan to return to CLO management - a decade after it last priced a CLO - is in motion