Private credit managers consider smaller fund targets
ANALYSIS: Some private credit managers are considering a smaller fundraise, bucking the convention of always aiming for bigger funds 

New Centerbridge print shows only slight mezz tightening compared to late 2024 levels
The manager’s first print of the year tightened triple As significantly from its last print in December, but priced only slightly narrower further down the stack  

Centerbridge launches new distressed debt fund targeting around USD 4bn
EXCLUSIVE: The Washington State Investment Board looks to come back as an investor in Centerbridge’s fifth special situation funds that’s looking to raise USD 4bn 

Centerbridge prints its second new US CLO of 2024
Centerbridge has issued its second new US BSL deal this year: a USD 431.85m deal called Park Blue CLO 2024-VI

New US CLO from Centerbridge prices
Thursday saw Centerbridge issue its first deal of the year, with an impressively tight print underlining a successful return to primary market activity

Centerbridge returns to the market with new US BSL CLO
After a somewhat quiet year on the primary market, alternative investment manager Centerbridge Partners this week priced its first CLO since February, in a USD 475.35m transaction

LP round up: securitised credit mandate terminated amid $5 billion allocations and expanding relationships
Institutional investors revealed nearly $5 billion of allocations to 31 credit managers across January and February board meetings, according to materials seen by Creditflux. However, there were also two fixed income manager terminations, and one multi-strategy account placed on a watchlist

Centerbridge and Five Arrows place triple As at 200bp with differing US CLOs
Centerbridge Partners and Five Arrows Managers each priced a new CLO on Friday, with both deals printing senior triple A notes with coupons of Sofr plus 200 basis points

Centerbridge returns with second Morgan Stanley-arranged CLO of 2022
Centerbridge Partners priced a new CLO on Wednesday named Park Blue CLO 2022-II, which is the followup to its inaugural BSL transaction back in August

Beneath the triple C: Winter is coming for CLOs as downgrades outstrip upgrades
Both US and European issuers have felt downward pressure from the rating agencies as we head towards the end of the year, with downgrades to triple C now firmly outpacing upgrades out of it.

LP round up: 27 managers find the top corner with investor wins
Credit fund managers like to take it one fund at a time and give it 110% for their 90-minute investor fund pitches - and it's working as $3.8 billion was allocated during November and early December. The gaffer would be proud. 

US CLO pipeline: PPM returns to playing field after 14-month absence
Five fresh deals have made their way on to the pipeline this week, including PPM Loan Management company preparing to end its 14-month drought

Triple A investors come out in force to support new CLO manager Centerbridge
Centerbridge has broken through in US CLO management with a four-year reinvestment deal on Friday through Morgan Stanley. The firm is understood to have recieved strong support for its senior CLO debt

Indicative deal structure emerges for debut Centerbridge BSL CLO
A preliminary deal structure has emerged for a forthcoming Centerbridge Partners debut CLO, in the market via Morgan Stanley

US CLO pipeline: like a (Center)bridge over troubled water
A large asset manager is marketing its first US CLO at a time of volatility in the underlying loan market. Whereas other funds build walls, CLOs build bridges 

Envision exchange leaves some lenders sick, but CSAM finds prevention is better than cure
Envision Healthcare’s distressed debt exchange has rocked the CLO market, with over $1.68 billion of the firm’s loans held by US CLOs. But some of the largest managers have avoided the name completely 

US CLO pipeline: Carlyle and Blackstone aim for CLO-a-month 2021 as BlackRock goes for baker's quadruple
The Thanksgiving holiday has not dampened the US CLO market’s appetite as a flurry of deals are set to price in the next couple of weeks. That includes 18 new deals, 11 resets and seven refinancings in the US

Private equity firm hires US CLO PM to build out new business
A large US private equity firm is moving into CLO management, laying the foundations for this by hiring an experienced CLO business-builder

Centerbridge wins $500 million for upcoming distressed credit fund
A large US pension scheme has agreed to put $500 million into Centerbridge's new distressed fund

Large US pension fund allocates to Centerbridge and GSO
A US pension fund has put a total of $125 million into distressed debt and energy credit funds

Calpers joins US pension fund charge towards distressed debt
US pension funds continue to put money to work in distressed debt strategies with California Public Employees' Retirement System among the institutions that are allocating towards new distressed funds

US pension is not alone as it wants more of new Centerbridge fund
Leading distressed debt manager, Centerbridge Partners, is having to fight off huge demand for a new fund