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LP round up: securitised credit mandate terminated amid $5 billion allocations and expanding relationships
1 year ago
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 -
UK nerves rattle Europe/US relative value trades, as Hunt seeks to reassure investors
1 year ago
A palpable mood of trepidation on Thursday around the UK’s autumn budget has brought widening of credit spreads, with European indices giving back gains they have made in recent sessions versus their US counterparts -
Europe-US convergence in play as week ends on strong rally
1 year ago
A big push tighter in credit spreads on Friday has extended the theme of European outperformance, with iTraxx Crossover briefly trading inside US high yield index counterpart CDX HY for the first time since July -
Bulls extend credit improvement as oil falters at key level
1 year ago
Having hit their widest prints of the month on Monday, credit indices are extending their run of gradual improvement into a third day – but with investors wary of placing big bets ahead of Friday’s Jackson Hole meeting -
LP round up: private credit takes big slice of inflows as 10% portfolio share projected for 2026
1 year ago
Institutional investors revealed nearly $4 billion allocations to credit funds in July, with recipients including Angelo Gordon, Apollo, Ares, BlackRock, Brookfield, CarVal, Comvest, Deerpath, KKR, Schroders and Sixth Street -
Schroders beats five to win structured credit mandate as pension terminates Franklin Templeton
1 year ago
Schroders has beat out five other credit managers to win up to $108 million for a securitised credit mandate from a US pension. It comes after investment consultant RVK recommended to terminate the pension’s investment in Franklin Templeton due to “underwhelming performance and decreasing assets” -
EU inflation prints frame challenge ahead as horror show first half ends
1 year ago
Financial markets are heading into the weekend with a rare stationary session, but the mood is more one of shellshock than considered positioning, after one of the worst first halves to a year on record -
Energy co joins Europe's choir of fallen angel candidates as spreads soar
1 year ago
The financial market sell-off is entering acceleration, with credit indices blowing to new psychological levels and a growing number of investment grade companies reaching high yield spreads -
Property firm's troubles mount while rest of market rallies
1 year ago
Financial markets have opened the week brightly on a mix of improved sentiment and technical repositioning. But one European high yield company is heading further into stress, against the flow -
Single name shorters get improved entry point after conviction test
3 years ago
Returning market optimism has taken credit spreads back to ultra-tight levels. But for bears, this posits a better entry level for short trades, and the recent blow-out may have given strong pointers where to target them -
Europe leads opening rally, with Asian boost to autos, banks and commodity traders
3 years ago
A bullish tone in Asia around the economic recovery from the coronavirus pandemic has carried over into the rest of the credit market at the start of the week, taking European spreads tighter and pointing to a solid opening for the US after its long weekend -
JC Penney bankruptcy weighs on CLO and CDX HY baskets
4 years ago
CLO managers hold nearly $250 million of the debt of JC Penney, which filed for chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas on Friday -
Frontier CDS auction pays less than bonds had indicated
4 years ago
A credit event auction to settle Frontier Communications CDS produced a slightly better result than expected for protection sellers -
Two US managers launch CLO funds geared towards dislocation
4 years ago
Tetragon Credit Partners and Octagon Credit Investors have become the latest managers to launch a CLO fund geared towards taking advantage of coronavirus-related distressed buying opportunities -
Listed CLO fund reports 45% NAV fall in March
4 years ago
Marble Point Loan Financing suffered a 45% drop in net asset value total return in March, according to a portfolio update from the $158.4 million listed fund -
Credit traders’ kickstand: weaker mood, but primary drive strengthens
4 years ago
The primary market for high yield bonds is open again, after a pause around the US holiday on Monday, with issues in Europe today from the likes of SIlgan and Catalent striking a bullish tone and setting the scene for an expected flurry of deals next week. But this comes as credit generally weakens, with concerns about the spread and reappraisal of coronavirus cases causing spreads to push back from their recent tights -
First Eagle lands $100 million for first direct lending fund since NewStar purchase
5 years ago
The New York-based manager has raised $100 million for the new vehicle, following the sale of NewStar’s $2.4 billion loan portfolio to Blackstone’s credit arm GSO Capital Partners -
Blackstone's credit AUM up 48% YoY as firm announces "exceptional" results
6 years ago
The firm's credit business enjoyed composite gross returns of 11.2% for performing credit and 7.7% for distressed strategies in 2017 -
Waterfall looks to add derivatives to its credit managed account
7 years ago
A US pension fund looks set to approve a change to its account with Waterfall, which will see the manager gain the ability to use derivatives as a hedging tool
19 results found Showing page 1 of 1
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