Sovereign wealth funds empower direct lenders
Sovereign wealth funds are turning toward the booming private credit market, with three massive partnerships formed this year

Credit fundraising: managers build homes for real estate credit funds
The “largest ever real estate credit fund” was one of the fundraising highlights last month as Blackstone’s Real Estate Debt Strategies IV fund reached $8 billion on its final close

MidCap brings CLO resets back with largest deal since sell-off
MidCap Financial, the direct lending arm of Apollo Global, has priced the first CLO reset since February, teaming up with Wells Fargo to repurpose its 2017 vintage CLO named Woodmont 2017-1 Trust. The transaction is the largest in the CLO market post-covid, coming in at a huge $651.8 million

Apollo launches another hybrid debt-equity value fund
Apollo's hybrid value strategy has the ability to invest in both credit and equity, focusing on capital solutions, structured equity and non-control stressed and distressed investments.

US CLO league tables: AGL grabs new issue lead
AGL Credit Management has added to an impressive run of CLO deal-making, pricing its fifth US new issue of 2020

Global CLO league tables - August 2020 YTD
Global CLO league tables - August 2020 YTD

Global CLO b-wic round-up: US CLO triple As finally rally while European investors go ‘all in’
A huge supply of $731 million of US CLO triple A bonds pushed US CLO secondary volumes to just shy of $1.5 billion last week

Beneath the triple C: CLOs get their sneakers on as retailers run into bankruptcy
July added further relief to CLO portfolios with the slowest rate of downgrades to triple C since March. US CLO portfolios faced downgrades of $2.18 billion to triple C while European portfolios faced just €59.13 million of such downgrades

Apollo appoints head of leadership development and diversity
Apollo Global Management is taking steps to improve diversity at its leadership level

Apollo plans multi-billion dollar follow up to credit dislocation fund
A few large managers have launched credit dislocation funds, but Apollo could be unique in fundraising for its second since the coronavirus pandemic

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

Global CLO league tables - July 2020 YTD
Global CLO league tables - July 2020 YTD

US CLO league tables: refis return as Apollo and Citi maintain leads
US CLO monthly issuance rose above $8 billion in July for the first time since the coronavirus pandemic wreaked havoc across the globe

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.

Redding Ridge back as top CLO issuer post sell-off with new US and EU deals
Redding Ridge Asset Management has shot back to become the largest CLO issuer by volume since the sell off in March after printing a new issue apiece in the US and Europe, according to market sources

CLO pipeline: Redding Ridge plans fourth US CLO since March
Last week proved to be one of the busiest weeks of the primary CLO market since the start of the coronavirus pandemic, with $5.21 billion worth of new paper issuance coming through: eight US CLOs, one middle market deal and three euro CLOs

Apollo joins forces with Mubadala for big direct lending deals
Apollo Global Management has launched a ‘large scale direct lending’ platform, which it says is anchored by Abu Dhabi’s Mubadala Investment Company

Redding Ridge CLO trumps Volcker rule to secure 10% bond bucket
Bond buckets have made a surprise early comeback into US CLOs, with Redding Ridge Asset Management last month issuing the first new issue, RR10, with a 10% allowance for secured high yield assets

LP round-up: Champaign pension raises a glass (or bucket) to private credit
Institutional investors allocated over $600 million to 11 managers this week, according to board documentation seen by Creditflux

Global CLO league tables - May 2020 YTD
Global CLO league tables - May 2020 YTD

US CLO league tables: light at the end of the tunnel as primary revives
May brought a rise in US CLO primary market activity with a combined $5.55 billion in new issuance for the month

Apollo collects $1.75 billion for dislocation fund in two months
Apollo Global Management has taken eight weeks to raise $1.75 billion for a dislocation credit fund, Apollo Accord Fund III B

Candian pension allocates $250 million to dislocation credit fund
Investment Management Corporation of Ontario (Imco) has allocated $250 million to a dislocation credit fund managed by Apollo Global Management

Apollo and Barings defer equity payments on long-dated CLOs
Apollo Global Management and Barings have joined PGIM in deferring their scheduled April payment dates for a handful of European CLOs, according to the latest payment reports on CLO-i. Apollo also deferred payments on several of its US CLOs.

CLO pipeline: Apollo targets fourth deal as managers line up to break 2020 ducks
Six CLO managers, five in the US and Fair Oaks Capital in Europe, are showcasing their first new issues of the year in preparation for pricing later this month. And Apollo Global Management is marketing its fourth new issue CLO (third US new issue CLO) in the last month and a half