Creditflux

US pension fund earmarks $1.3 billion for credit
Teachers’ Retirement System of the State of Illinois (TRS) is set to commit $1.3 billion to credit funds, as part of its global income portfolio.  

Hayfin prices new CLO as European 2.0 volumes break monthly record
Europe’s CLO volumes reached a post-crisis monthly record on Friday as Hayfin Capital Management priced its latest new issue bringing July volumes to €5.21 billion

Managers slide down term curve
PGIM and Voya were among managers issuing short dated deals in the first quarter. These CLOs, along with a surge in b-wics, kept up the supply of short dated paper as refinancings fell away

BNP Paribas lands double punch with two CLOs in a day
BNP Paribas made a $1.11 billion splash in the US CLO market on Friday, pricing two new issue CLOs. 

CLOs at a glance
Managers focus on AUM building via new issues

Euro CLO round-up: managers make equity work with innovative structures
Equity arbitrage has been under pressure but managers are braving the market and getting creative with deals to make deal economics work

Hayfin adds step up notes to triple A tranche as it prices European CLO
London-based Hayfin showed creativity in selling its senior CLO notes on Emerald I, opting for Euribor caps. Again the firm has defied convention, this time by incorporating step-up notes

Hayfin brings in head of structured credit from New York-based fund manager
Sources say that Hayfin has made a major hire in New York as it looks to build up its CLO investment capabilities

GoldenTree adds partner to its structured credit team in London
GoldenTree Asset Management has made a big hire to its London office with a structured credit specialist joining as partner

CLO investors doff caps to Citi for creating fixed-rate substitute
Euribor floors have been a mainstay of the European CLO market for years, but last month Hayfin Capital Management and Citi teamed up to price the first CLO tranche to feature a ‘Euribor cap’.

Citi brings 'Euribor caps' to CLOs as it prices new deal for Hayfin
A new manager is already making waves in Europe after pricing its first European BSL CLO via Citi on Friday

Hayfin looks to launch third European direct lending vehicle
European credit specialist Hayfin Capital Management is looking to launch Hayfin Direct Lending Fund III, according to regulatory filings 

US CLO managers are unwinding risk retention funds, conference hears
While a limited number of US CLO managers have already begun to offload vertically held risk retention, panellists at IMN’s Global ABS conference in Barcelona heard that others have begun winding up funds that hold horizontal retention in their CLOs

Hayfin resets 2013 Kingsland CLO via Citi
Hayfin Capital Management has priced a $474.51 million CLO reset via Citi

Hayfin prices first US CLO after Kingsland acquisition
The asset manager has priced a $606.25 million new issue US CLO via Citi, according to market sources

London manager plots return to CLO market by launching debut BSL deal
The manager has hired Citi to price its first ever CLO backed by broadly syndicated loans

Hayfin launches new PE fund strategy headed by former Aberdeen specialist
European credit platform Hayfin Capital Management has launched a new private equity funds strategy, Creditflux has learned

TPG's Questa joins London-based direct lender as managing director
Stefano Questa, formerly managing director at TPG, has joined European credit platform Hayfin Capital 

Hayfin acquires US CLO manager
European credit platform Hayfin Capital Management has signed an agreement to acquire a US CLO specialist

Hayfin raises €2.2 billion for special opportunities strategy
Hayfin Capital Management yesterday announced that it has completed fundraising for its new special opportunities strategy

Senior debt funds are mis-pricing euro mid-market loans, conference hears
An influx of capital into senior debt funds is leading to mispricing in Europe’s mid-market, delegates at the Debtwire European Mid Market Forum heard yesterday

British Business Bank joins forces with Start Up Loans Company
The British Business Bank and the Start Up Loans Company are set to merge, according to a joint-statement issued yesterday. The former has supported a number of UK direct lending funds

Direct lender targets €1.5 billion special opportunities fund
A large direct lending firm has made significant progress as it aims to launch a special opportunities fund geared towards Europe's middle market