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Sears CDS battle heats up as DC challenged to change auction rules
5 years ago
A high profile battle over Sears Roebuck Acceptance Corp credit default swaps has taken a new turn, with one market participant challenging the Americas Determinations Committee to change its rules to avert price manipulation by another market participant in the bankrupt retailer's credit event auction -
Sears CDS battle lines set out in market-defining legal fight
5 years ago
Legal sides have set out their arguments in the high-stakes Sears Roebuck Acceptance Corp credit event external review, in what an industry group of asset managers claims is a “unique opportunity to provide clarity on one of the most important definitions for the credit default swap product” -
GSO co-founder plans new credit business
5 years ago
GSO Capital Partners co-founder Tripp Smith is launching his own credit management firm, according to a report by Bloomberg -
Robus targets €300 million for second distressed debt fund
5 years ago
Robus Capital has held a first close for its second distressed fund, Robus Recovery Fund II, Creditflux understands -
Sear-iously? Isda slams ex-CFTC commissioner over CDS "hyperbole"
5 years ago
The International Swaps and Derivatives Association has waded into a gathering furore over Sears Roebuck Acceptance Corp credit default swaps -
San Francisco pension bolsters private credit portfolio with €60 million commitment
5 years ago
San Francisco Employees’ Retirement System has awarded €60 million to a distressed debt fund -
New Zealand Superannuation Fund hires CIO
5 years ago
New Zealand Superannuation Fund (NZSF) has appointed Stephen Gilmore to serve as chief investment officer -
Sears CDS settlement extends to 2019 as external review teams line up
5 years ago
Holders of Sears Roebuck Acceptance Corp credit default swaps will have to wait until at least 7 January to resolve the contracts, with an external review decision on deliverables into the defaulted borrower’s credit event auction slated for 21 December -
Värde raises $400 million for Asia credit fund
5 years ago
Värde Partners has closed its inaugural Asia-focused fund at $400 million - six months after launching -
Sears CDS external review panel named to solve Determinations Committee impasse
5 years ago
The North America Determinations Committee has selected an external review panel to decide whether two Sears Roebuck Acceptance Corp debt obligations can be delivered into an auction to settle the US retailer’s credit default swaps, having failed to achieve a strong enough quorum among its own 15 members -
KKR promotes three European credit specialists to managing directors
5 years ago
KKR has promoted several members of its team to managing directors - including a former US CLO portfolio manager -
Astaldi CDS auction sets 30.875 final price as physical settlement boosts recovery
5 years ago
An auction today to settle credit default swaps referencing Astaldi has determined the final price to be 30.875 cents on the euro, meaning a 69.125 cents pay-out per euro for protection buyers -
Crossover converges on CDX HY as Fed, earnings and heavy technicals take hold
5 years ago
Big moves of single name credits continue to hold sway over the iTraxx Europe Crossover credit default swap index, whose underperformance of US counterpart CDX HY has extended during the past week amid a big technical repositioning of flows -
Blackstone builds on multi-asset approach with fifth fund
5 years ago
The new vehicle will invest directly into Blackstone deals across its alternatives platform -
CLO managers on alert as five credits drive Crossover index rout
5 years ago
Five constituents of iTraxx Crossover have hit big bumps this week, fuelling a noticeable underperformance of the European credit default swap index against its US counterpart yesterday in a reversal of the recent trend -
10 bidders line up for Astaldi CDS auction as Morgan Stanley swaps in for Mizuho
5 years ago
There will be 10 participating bidders to an auction to settle Astaldi credit default swaps, with the Determinations Committee unanimously approving Morgan Stanley’s involvement as Mizuho dropped out -
Astaldi credit event auction deadline looms for participating bidders
5 years ago
Firms wishing to take part next week in a credit event auction to settle Astaldi credit default swaps have until 5pm London time today (23 November) to submit participating bidder letters to the Determinations Committee -
Till debt us do part: CLOs have and hold David's Bridal loans as they plummet 10.87%
5 years ago
CLOs hold $26.63 million exposure to David’s Bridal, which filed for Chapter 11 bankruptcy on Monday -
Recent CLO debutant Vista brings in GSO official to lead credit team
5 years ago
Vista Credit Partners has hired a former GSO official to lead its credit team -
Texas pension fund commits €75 million to European distressed debt
5 years ago
A $30.01 billion pension fund has awarded €75 million to a European distressed debt fund managed by AnaCap Financial Partners -
US clothing brand default leaves CLOs exposed
5 years ago
As many as 100 CLOs are among the holders of debt issued by FullBeauty, which defaulted on 31 October on an interest payment to its $345 million second lien loans -
Los Angeles pension backs Lone Star fund
5 years ago
Los Angeles Fire and Police Pension System has approved a commitment of up to $40 million to Lone Star Fund XI, according to a monthly report -
San Francisco pension ramps up private credit portfolio with $80 million commitments
5 years ago
The $24.5 billion pension fund currently has a 2.2% actual allocation to private credit, despite a 10% target allocation -
October: credit funds at a glance
5 years ago
For the full report detailing fund trends, people moves and fund raising and launches -
Corporate long-short funds regain their swagger after dip.5 years ago
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