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All’s well that ends well in 2020 OC tests
29 days ago
Swathes of CLOs failed over-collateralisation tests last year, but unlike the drawn-out recovery following the 2008 financial crisis, the return to compliance after the covid-19 crash was rapid -
LP round up: pensions plan private credit pacing as strategic credit takes on "midfield" role
30 days ago
US pensions have allocated $1.4 billion across 22 credit funds including those managed by Angelo Gordon, Ares and GoldenTree, according to recent board documents seen by Creditflux. Meanwhile a pension fund draws parallels between strategic credit and Jordan Henderson -
LP round up: Arcmont, Ares and Sixth Street win European direct lending mandates
1 month ago
Investors have allocated around $2 billion to credit funds in recent weeks, according to board documentation seen by Creditflux. Among those to recieve allocations include ADM, Arcmont, Ares, Audax, Bain, Centerbridge, Clearlake, Goldman Sachs merchant banking, Invesco, Monarch, Oaktree, Raven, Sixth Street and Sound Mark -
Global CLO b-wic round-up: Junior tranches rally amid heavy supply, including portfolio liquidation
1 month ago
The US CLO secondary market rally is showing no signs of slowing down after a week of over $1 billion worth of bonds was listed and well absorbed, according to market sources. The European market also had a roust week with over €300 million of paper up for grabs, although the market stayed generally flat with some tightening in double and single Bs -
Trimark loan deal splits lenders and sparks complaint in NY Supreme Court: Debtwire
2 months ago
A new super-priority loan issued by Trimark has caused a rift between the company’s lenders and led to a complaint being filed in the New York Supreme Court. -
Calpers allocates $3.5 billion to Sixth Street and Goldman Sachs
2 months ago
Californian pension heavyweight Calpers is allocating a whopping $3.5 billion to private credit managers -
LP round up: $2.8 billion flows to credit as Apollo concedes fundraising may slow
2 months ago
Florida Retirement System Trust Fund made the largest commitments allocating $1.6 billion. Apollo meanwhile acknowledged a potential slowdown in fundraising as investors await results on an independent review into CEO Leon Black's relationship with Jeffrey Epstein -
LP round up: EIF backs four debt funds while Carlyle wins $1 billion
2 months ago
Institutional investors have allocated just over $4 billion to 27 credit managers in October board meetings -
Credit Rendezvous: sometimes you have to dive deep to find value
3 months ago
Some parts of the credit market are fraught with danger, but that does not mean portfolio managers are avoiding them entirely, according to the Credit Rendezvous, Creditflux's 10-page quarterly report eaturing comments from 15 credit experts -
LP round up: $5 billion flows to credit as private market allocations increase
3 months ago
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux -
LP round up: private credit drive gains momentum as Calpers backs Pimco
3 months ago
Private credit continues to be viewed as an attractive investment strategy for institutional investors, with four global allocators outlining new buckets, or increases to the asset class -
LP round up: Connecticut eyes Fortress for private credit partnership
4 months ago
Investors placed $3.3 billion across 26 credit mandates over the past fortnight, according to documents seen by Creditflux -
Euro CLO league tables: Apollo blasts its way to top spot
5 months ago
July marked the largest month of European CLO issuance since coronavirus pandemic-induced volatility hit financial markets -
LP round up: Oregon eyes $1.8 billion into structured credit
5 months ago
Institutional investors have earmarked over $6 billion to credit funds over the past two weeks -
European CLO spreads tighten across stack as Oaktree prices new issue
6 months ago
Oaktree Capital Management broke European CLO market records yesterday by pricing the tightest new issue transaction amid the coronavirus pandemic -
Oaktree managing director joins Peak Rock as it grows credit business
6 months ago
Peak Rock Capital has appointed a former Oaktree Capital Management official to help lead investments across corporate credit -
Oaktree markets first 2020 Euro CLO via Barclays
6 months ago
The €300 million deal, named Arbour VIII, is expected to price in the week beginning 13 June -
LP round up: horseshoe does the trick for Pimco and other distressed managers
6 months ago
Institutional investors poured $2.7 billion into credit this week through 14 managers, according to board documentation seen by Creditflux -
Oaktree sets up North America sourcing and origination group
6 months ago
Oaktree intends for the platform to enhance its private credit sourcing and deal-origination capabilities -
OC health check: slowing of downgrades offers some reprieve for CLOs stuck in breach
6 months ago
89 deals reported overcollateralisation breaches last week, but only seven of these deals were breaching any OC test for the first time, according to the latest reports available on CLO-i -
LP round-up: Champaign pension raises a glass (or bucket) to private credit
6 months ago
Institutional investors allocated over $600 million to 11 managers this week, according to board documentation seen by Creditflux -
LP round-up: mighty Oaks win $1 billion apiece from Calpers
7 months ago
Credit investors allocated over $3 billion to 18 credit managers this week across a wide range of strategies -
Oaktree mixes defensive with opportunistic in new fund for recent hire
7 months ago
Oaktree Capital Management has launched a standalone absolute return fixed income fund for recent hire Brad Boyd, according to market sources -
Points up front: Senior tranches pay down despite junior OC passes
7 months ago
192 US CLOs have breached at least one over-collateralisation test, according to CLO-i, but at least two deals have not followed the conventional path -
Owl Rock hires from Oaktree to build opportunistic credit platform
7 months ago
Owl Rock Capital has built out a new opportunistic credit investing division, adding that “current market conditions make it especially attractive and relevant today.”
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