Credit makes strong gains in relief rally
The week has opened on a stronger tone amid a calming of government bond yields, conducive manufacturing data in Europe and a new covid-19 vaccine approval in the US

Ex-Highland official launches private credit placement agent firm for niche strategies
The former partner and chief executive officer at global placement agent FirstAvenue Americas, has launched his own placement agent named Briarcliffe Credit Partners

AlbaCore adds distressed hire among raft of new arrivals
AlbaCore Capital Group has added four hires to its investment team in recent weeks, taking its total headcount to 46

Apollo holds $2.34 billion final close on latest credit dislocation fund
Apollo Global Management has held a $2.34 billion final close on its latest flagship dislocated credit fund, Apollo Accord Fund IV

Compression trades grind into gear as spreads narrow
Compression between high yield and investment grade credit looks to be finally gaining traction in February, having been identified by some strategists at the start of the year as a key 2021 theme

Bardin Hill closes opportunistic credit fund with $600 million in commitments
Bardin Hill Investment Partners has closed a commingled fund, Bardin Hill Opportunistic Credit Fund, as well as a sidecar strategy, with around $600 million of commitments

Blackstone hires Carlyle co-head of illiquid credit as senior managing director
The New York-headquartered manager has hired a Carlyle official as a senior managing director in its opportunistic investing platform, Blackstone Tactical Opportunities. And Carlyle has subsequently promoted two officials on its team

Senior Pimco distressed portfolio manager joins ICG
Intermediate Capital Group says that it has hired a senior Pimco official as managing director and co-head of special situations in London

Credit funds at a glance (February 2021)
A round-up of fundraising and people moves

Fund performance: CLO funds keep up momentum as Napier Park finishes top
2020 ended with funds in our CLOs category taking the top few spots

Ucits at a glance: Advent ends calendar year on top
Ucits ended 2020 on the rise as 89% of funds achieved positive returns in December

Credit hedge funds (February 2021)
Monthly credit hedge fund tables

Search firm highlights lack of diversity across Euro credit
A report on diversity within the corporate credit industry has shed light on the imbalances that persist

Credit fundraising: January proves anything but dry for manager inflows
After a tough and unpredictable year, January may have been seen by many as an opportunity for a fresh start. But for seven managers it meant holding final closes on funds, while three undertook first closes and one a fund launch

LP round up: Dutch pensions put €1.3 billion into infra debt
Institutional investors allocated over $2 billion to credit funds in January. Opportunistic credit funds were a favourite but the biggest moves came in infrastructure debt

BofA restructures special situations and distressed debt trading desks
Bank of America has restructured its regional special situations and distressed debt trading teams

Hayfin hires senior BofA figure as private credit portfolio manager
Hayfin Capital Management has hired a Bank of America official as a London-based portfolio manager in the firm’s private credit team

US looks for stronger open after sell off
US credit is opening slightly stronger on Thursday, after its sharp Wednesday rout, prompted by Federal Reserve messaging, carried over forcefully into Asian and European markets

Credit touches November levels as nerves fray on France and Fed
Fears of a third national lockdown in France and the risk of disappointment from Wednesday's US Federal Reserve meeting have pushed credit wider along with a sell off in stocks

SC Lowy hires illiquid credit trader from Morgan Stanley
SC Lowy has appointed a Morgan Stanley official to its European credit trading team based in London

Credit lags in market recovery after borders panic
Financial markets are recovering after Tuesday's sell-off, but credit is lagging stocks despite having taken more of a hit in the initial rout

SME lender LCM raises €3.4 billion for European credit fund
LCM Credit Opportunities 4 is nearing a €4 billion target and expects to hold a final close in April

Credit Rendezvous: heading for homes
Fund managers in structured credit, real assets and distressed are bullish on the prospects for residential housing in 2021. Elsewhere, niche royalty-based strategies are in favour and although a CLO repricing wave is expected, it may not be easy to execute resets. For more, read our 13-page quarterly report on credit. 

Credit beats fast retreat as Biden boost dissolves in sea of troubles
The improvement of financial markets following the inauguration of Joe Biden as US president on Wednesday is looking short-lived as the week comes to an end, with CDS indices once again among the poorer performers

Kennedy Lewis raises $2.1 billion opportunistic credit fund
Kennedy Lewis Investment Management has closed a second middle market opportunistic credit fund at $2.1 billion, more than doubling its initial $1 billion target