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Arnold & Porter adds restructuring partner in New York
5 years ago
Arnold & Porter has bolstered its restructuring and bankruptcy practice in New York with the appointment of a former Morrison & Foerster partner -
Pacific Gas & Electric CDS set for high recovery as initial obligations trade above 74
5 years ago
Pacific Gas and Electric Company CDS look set for a high recovery, despite a long list of obligations being selected as deliverables into the credit event auction for the defaulted borrower, since eligible bonds are all quoted in the mid-70s or 80s -
Direct lending to be stress-tested at Creditflux event
5 years ago
Delegates to Creditflux Direct Lending will hear three notable managers discuss how they are “Preparing for distress” -
Washington pension fund set to back TSSP strategy
5 years ago
Washington State Investment Board (WSIB), the $132.2 billion public pension fund, considers committing to TSSP Capital Solutions (TCS), according to documents seen by Creditflux. -
Pacific Gas & Electric triggers bankruptcy credit event
5 years ago
Pacific Gas and Electric Company has triggered a bankruptcy credit event, the Americas Credit Derivatives Determinations Committee has ruled, by 14 votes to one -
New York pension ups commitment to HarbourVest by $400 million
5 years ago
New York State Teachers' Retirement System has topped up commitments to Maple Fund, having already approved $600 million in 2017 -
Performing credit tops distressed credit for Blackstone, but credit AUM declines
5 years ago
The firm is looking to boost its direct lending business to gain $10 billion of available capital over the next couple of years -
Florida pension fund backs Atalaya distressed strategy
5 years ago
Florida State Board of Administration (SBA) has committed $100m to Atalaya Special Opportunities Fund VII, as part of the Florida Retirement System’s portfolio. -
Pacific Gas & Electric credit event posed following Chapter 11 filing
5 years ago
The Americas Credit Derivatives Determinations Committee has been asked to rule on whether Pacific Gas and Electric has triggered a credit event, after the San Francisco headquartered firm filed for Chapter 11 bankruptcy protection for the second time in its history -
$1.8 billion manager Shelton buys credit manager Cedar Ridge
5 years ago
The $1.85 billion multi-asset manager has bought credit-focused firm Cedar Ridge Partners -
Virginia pension fund commits to Asian private credit
5 years ago
Virginia Retirement System (VRS) approved a $150 million commitment to the SSG Capital Partners V fund at a January board trustees meeting, a spokesperson has confirmed. -
AnaCap buys €4 billion Italian SME loan portfolio
5 years ago
AnaCap Financial Partners has made its first transaction of its fourth credit opportunities fund -
San Francisco pension plans to deploy $800 million to private credit in 2019
5 years ago
San Francisco Employee’s Retirement System will allocate $800 million to its private credit bucket in the coming year, to reach its 10% target allocation -
Boost for Parker Drilling protection buyers as CDS settles lower than expected
5 years ago
Parker Drilling credit default swaps have settled at a lower value than expected, after physical settlement sell requests drove down the price at auction and increased the windfall for protection buyers -
Parker Drilling recovery implied at 45 cents as dealers get set for CDS auction
5 years ago
An auction to settle credit default swaps referencing Parker Drilling will take place today, with bond trading levels of the defaulted company implying a payout to protection buyers of around 45-46 cents on the dollar -
Californian pension to invest $500 million in private markets in 2019
5 years ago
San Bernardino County Employees Retirement Association plans to invest $500 million in private assets over 2019, according to a presentation by the pension fund’s investment consultant NEPC. -
Sears CDS settles well above bonds on physical settlement squeeze
5 years ago
Predictions that credit default swaps referencing Sears Roebuck Acceptance Corp would recover at a high level have been borne out, with an auction to settle the contracts having returned a value of almost 80 cents on the dollar – nearly 30 points higher than where bonds of the bankrupt US retailer have been quoted -
Dealers gear up to settle Sears CDS and rule on Ziggo successor
5 years ago
The long wait to settle the final price of Sears Roebuck Acceptance Corp credit default swaps will end today with a credit event auction, while investors could also learn whether there is successor to contracts referencing deregistered Ziggo Bond Finance -
Sears CDS auction to proceed this week as dealers reject delay request
5 years ago
Dealers on the Americas Credit Derivatives Determinations Committee have rejected a call to delay this week’s auction to settle Sears Roebuck Acceptance Corp credit default swaps, although it was a split decision rather than unanimous vote -
Delay sought on Sears credit event auction to free up deliverables
5 years ago
The Americas Credit Derivatives Determinations Committee will meet today to consider whether or not to delay a forthcoming auction to settle Sears Roebuck Acceptance Corp credit default swaps, after a market participant requested more time to allow a wider pool of deliverable obligations to become available -
Fortress targets $6 billion for latest fund in its flagship credit opportunities series
5 years ago
Fortress Investment Group has raised just over $1.05 billion for its latest opportunistic credit fund -
Disagreement between Sound Point and former portfolio manager comes to an end
5 years ago
The long-running dispute between portfolio manager Jeff Teach and his former employer Sound Point Capital Management has been brought to an end following a final arbitration award -
CDS committee faces another question on Sears as it outlines auction terms
5 years ago
The Americas Credit Derivatives Determinations Committees has published the auction settlement terms related to Sears Roebuck Acceptance Corp (SRAC), but faces one more general interest question attempting to amend the auction terms -
Ohio pension fund assigns $50 million to distressed debt
5 years ago
Ohio School Employees Retirement System has awarded $50 million to a distressed debt fund managed by GoldenTree Asset Management -
New York pension fund allocates €250 million to European credit manager
5 years ago
A $207.4 billion pension fund has awarded the mandate to a multi-strategy credit fund managed by EQT Partners
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