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Investcorp hires senior official to lead new Los Angeles office
2 years ago
The firm has expanded its US presence in the west coast and has hired a senior official responsible for growing investor relationships in the region -
A fresh approach to loss distribution
2 years ago
Considering how cash balances change over time, loss distribution models can look very different to conventional thinking. So is your CLO’s pricing based on incorrect assumptions? -
Marathon sees value in Sofr CLO tranche over fixed-rate option
2 years ago
Marathon Asset Management stole a march on other CLO issuers by including a Sofr tranche as part of a new issue transaction on 10 November via Bank of America. Officials at the company say the Sofr tranche makes a compelling alternative to a fixed-rate tranche -
Credit hedge funds (January 2022)
2 years ago
Credit hedge fund returns -
Ucits at a glance: Robus and Altana dip but stay at the top
2 years ago
In October, Ucits funds continued a slide that had begun the previous month with 60% of them in the red -
Credit funds at a glance (January 2022)
2 years ago
A round up of fundraising and people moves in credit -
CLOs prove resistant to omicron in boost for new issue market
2 years ago
The CLO market has withstood the impact of the omicron coronavirus variant with barely a dent on CLO liability pricing -
Market ponders Sofr spread adjustment amid investor lag
2 years ago
The CLO market is waving goodbye to Libor as a benchmark rate and transitioning to alternatives for the first time in the history of the asset class. But there is no consensus as to what the Sofr spread adjustment should be, and some of the largest buyers are said to be slow to consider the impact of a benchmark transition -
"In 2022, being slow will not be such a bad thing"
2 years ago
St David losing its place as the UK’s smallest city would be a travesty. Replacing Libor might be worse -
Citi's former European CLO head earns promotion to MD
2 years ago
A long-time European CLO specialist is among the 306 promoted to managing director at Citi, according to reports -
LP round up: CLO fund included in whopping $13 billion of credit allocations in November
2 years ago
Credit took centre stage in November as investors allocated over $13 billion to credit funds in the month, with one pension allocating $50 million for a European CLO risk retention fund -
Lev loan index rule change proposed to meet Sofr switch
2 years ago
Leveraged loan index stakeholders are being asked for feedback on a proposal that would allow the inclusion of loans linked to Sofr and scrap a minimum spread rule -
CLO lower cap stack will outperform with $175bn new issuance in 2022: JP Morgan
2 years ago
Equity and lower rated tranche investors will do best as $175 billion of global new CLO issuance arrives in 2022, predict JP Morgan strategists in their annual outlook, taking market size to $1.2 trillion -
Ex-Citi structured products co-head launches crypto investment firm
2 years ago
Citi's former structured products trading co-head has launched a venture investment firm for crypto companies, digital assets and blockchain protocols with an inaugural $1.5 billion multi-strategy venture -
Loans will be winners in bearish year for credit: BNP Paribas
2 years ago
Floating rate loans are best positioned for a year of widening credit spreads, but high yield bonds will outperform investment grade and EM credit is set for losses, says BNP Paribas in its 2022 outlook -
Amundi replaces European loan head and appoints deputy
2 years ago
Amundi has shaken up the hierarchy of its loan business with a personnel shuffle at the top -
Elfa launches ESG exclusion checklist to streamline process for CLO managers
2 years ago
The European Leveraged Finance Association has launched an environmental, social and governance exclusion checklist, which it says is designed to “streamline the negative screening and exclusion” for CLO managers -
CLO resets drive equity returns to highest in five years: JP Morgan
2 years ago
Equity investors in US CLOs are earning, on average, the biggest returns of the past five years, finds JP Morgan – with deals reset this year having done most to raise the numbers -
Amherst Pierpont takes total return approach as it builds CLO analytics platform
2 years ago
Amherst Pierpont is making CLO analysis the focal point of a push into the asset class, with the brokerage creating a platform that looks at the alpha and beta generated by a CLO manager, as well as their pricing on CLO liabilities. -
Sofr transition timing puts CLO debt and equity at odds, says BNP Paribas
2 years ago
CLO investors look to have tough conversations ahead on the structure implications of the transition from Libor to Sofr, with BNP Paribas strategists noting CLO debt will benefit from an early move while equity tranches would do better to wait -
Credit hedge funds (November 2021)
2 years ago
Credit hedge fund returns -
Ucits at a glance: Robus and Altana enter the final sprint neck and neck
2 years ago
A downward turn hit Ucits funds as 65% of them made positive returns in September, -
"CLO equity investors have long accepted basis risk… but an off-market adjustment does not work"
The 26bp adjustment is disrupting the transition away from Libor — but market forces will prevail -
Hayfin creates head of ESG role in London
2 years ago
Hayfin Capital Management says it has hired a head of ESG. This is a newly-created role, but Hayfin says it has “well-established environmental, social and governance capabilities” -
Axa IM launches multi-strat fund for pensions
2 years ago
Axa Investment Managers’ ‘alternatives’ business has launched an open-ended strategy for pension funds
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