Direct lender Raven separates from Metlife just one year after it was acquired
Raven Capital Management, a New York and Santa Monica-based private credit specialist, has parted ways with parent company Metlife after just a year under its ownership

Global corporate defaults on fastest pace since 2009 according to S&P
The number of corporate defaults has risen dramatically year-to-date, according to S&P Global Ratings, driven by a doubling of the rate of defaults in Europe

Värde Partners promotes two to partner
Värde Partners has made two senior-level promotions, including a new global head of business development and investor relations and a new chief operating officer

Private credit funds are more stable, lower levered and more regulated than you might think
The private credit market’s steady and impressive growth has caused some pundits to voice concerns about an eventual bubble. While we expect there to be more dispersion in private credit funds’ performance in the coming years, we don’t see signs that a bubble is about to burst.

UK-based manager looks to restart European infra CLO market
RM Funds, an Edinburgh-based infrastructure debt investor, is looking to launch the first European infrastructure CLO since 2008

Benefit Street Partners raises USD 4.7bn for latest flagship direct lending fund
Benefit Street Partners held the final close of its fifth flagship direct lending fund — dubbed BSP Debt Fund V — with USD 4.7bn of investable capital

Beechbrook hires new managing director to expand UK direct lending business
London-headquartered Beechbrook Capital has hired Richard Smart as managing director tasked with growing the European lower-mid-market debt manager's UK direct lending strategy

Private credit’s abundant dry powder is great news for CLOs as well as borrowers
The recent rapid growth in private credit funds has garnered much attention from market participants and media pundits. While naysayers warn that this “shadow banking” channel could be a bubble waiting to burst in the higher-for-longer environment, issuers and investors continue to flock to the asset class.

Basel III looks likely to further increase banks investment in CLO triple As
Demand for CLO triple As has grown substantially over the past few years as more banking institutions, pension funds, asset managers and insurance companies discover this attractive asset class, which historically has never taken a loss.

US loan default rates will peak near record levels, says Deutsche Bank
A new research paper from Deutsche Bank has forecast leveraged loan default rates rising to near all-time highs by the fourth quarter of 2024.

Low warehouse balances show CLOs bracing for volatility
A record number of CLO warehouses are open but contain record low balances, according to several market sources. The figures indicate that CLO managers and equity investors are preparing for a sell-off in the loan market in the latter half of 2023.

Aquarian's Driscoll: It took six months from JP Morgan taking over Bear Stearns for the scale of the crisis to be revealed
At Creditflux's CLO Symposium in London in May, Justin Driscoll, chairman of Aquarian Credit Partners, sat down with Creditflux to discuss the outlook for the US CLO market

CLO funds make best of a bad situation
It can’t get any worse can it? Well, it did in 2022, when credit spreads kept moving wider. Still, CLO funds were able to withstand the pressure, and they outperformed other credit strategies

HPS raises $12 billion for fifth junior capital fund
HPS Investment Partners has closed its fifth junior capital solutions fund, HPS Strategic Investment Partners V, at $12 billion. With leverage, the strategy has $17 billion investable capital

CLO head set to leave Morgan Stanley EV
The head of structured products at Morgan Stanley Eaton Vance, is set to retire from the firm at the end of this year, according to a memo seen by Creditflux.

Weekly US CLO issuance volumes pass $2.5 billion as Putnam prices
Putnam Advisory Company priced a new CLO via JP Morgan on Friday named 37 Capital CLO 3 at $353.76 million

Senior CLO officials leave Credit Suisse ahead of move to Canadian bank
Credit Suisse’s CLO operations have been hit with two senior figures leaving the bank

Experienced CLO investor set to leave Tetragon
A well-known CLO tranche investor is set to leave Tetragon Credit Partners.

Barclays won't let sleeping dogs lie after another Newfoundland CLO reset
Newfoundland CLO, the long running and world's largest balance-sheet CLO, has been given a new leash of life by upsizing in a reset yesterday, according to announcements from Moody’s and Scope Ratings.

Credit Rendezvous: Make yourself comfortable, there’s a storm coming
In our Q1 outlook, we speak to Edwin Wilches, PGIM (US CLOs), Mikkel Sckerl and Flemming Dose, Capital Four (European CLOs),  Jim Fitzpatrick, CQS (US loans), Loic Prevot, Polus (European loans), Madelaine Jones, Oaktree (global high yield), Art Penn, Pennant Park (US direct lending), Mattis Poetter, Arcmont (European direct lending), Keerthi Raghavan, Waterfall (structured credit), Ray Costa, Benefit Street (distressed), Grant Webster, Ninety One (Emerging markets), Oumar Diallo, Aeon (real assets) for their views for the upcoming quarter. 

Senior CLO officials leave Natixis in shock round of resignations
Natixis has been rocked by the departure of four senior members in its CLO and structured credit team

European credit specialist rejoins Allspring
An experienced European loan and high yield specialist has returned to Allspring Global Investments after a spell at Western Asset Management

Nassau adds $3.6 billion credit firm Angel Island to its platform
Under the deal, Angel Island will become a subsidiary of Nassau’s asset management unit, Nassau Asset Management

Bain promotes European CLO PM to partner
Bain Capital has promoted its head of European structured credit and liquid credit to partner