Global CLO league tables - April 2021 YTD
Global CLO league tables - April 2021 YTD

Fairwater eyes tranches and options as prospects ‘multiply’
Fairwater Capital is looking to capitalise on rising credit volatility by crafting a strategy that makes full use of the growing number of products in the credit derivatives industry

LP round up: $3.2 billion flows to 21 managers as private credit illiquidity premium holds firm
Investors allocated at least $3.2 billion to credit managers in April - and direct lending funds were in favour with Churchill and Ares being awarded two mandates

Investor uses Paris Agreement as template for ESG language
Lupus Alpha Asset Management is supporting the advance of environmental, social and corporate governance (ESG) criteria in European CLOs by embedding language into deal documentation that is linked to the European Union Paris-aligned Benchmark (which derives from the Paris Climate Agreement).

CLO fund comes top by distance in middling month for credit
A CIS Asset Management fund, which invests mainly in US CLO equity, was the star performer in March after gaining 7.36% in the month

Points up front: Abrdn finds text appeal
Marketing consultants have been working overtime to concoct new brand names, but their efforts have not been met with universal acclaim

Points up front: The flattest term curve - work anniversary rewards
If you think CLO term curves are flat with a handful of basis points between three and five-year triple A CLOs, then you haven’t seen anything yet

BofA and State Street divided over CLO convertibles
A split has emerged in the approach between the two big buyers of triple A-rated CLO tranches that are structured as loans

Nochu stays on sidelines but hope lingers for return
Reports in the mainstream media last month suggested Japanese heavyweight CLO investor Norinchukin Bank was looking at deals in the market ahead of a return to CLO investments.

WhiteStar finally makes it to Europe
US CLO manager WhiteStar Asset Management opened an office in London last month in what officials describe as the culmination of a plan that has been many years in the making

Fund performance: Lightning strikes twice as range of credit funds deliver
What seemed like a chance occurrence in February has struck again in March, as seven categories make our top 10 best performing hedge funds

Credit hedge funds (May 2021)
Credit hedge fund returns

Ucits at a glance: Altana moves into pole position
March marked a drop in pace for Ucits funds as only 62% of funds made positive returns, compared to 80% in February

Credit funds at a glance (May 2021)
A round up of fundraising and people moves in credit 

CLOs at a glance (May 2021)
A listing of CLOs that have priced in the last month

CLOs cushioned as regulators get more comfortable on Sofr
The quest to find a suitable Libor replacement looks to have taken a big step forward in recent weeks, with hopes rekindled that securitised products such as CLOs and ABS could soon make use of a term Secured Overnight Financing Rate (Sofr)

Non-mandated CDS clearing leaps ahead of margin deadline
The regulatory drive to increase clearing of derivatives is making big strides in the credit market. But a standout feature of 2021 is the acceleration in central counterparty clearing of products not subject to a regulatory mandate, such as CDS index options and single names

Park Square collects €1.8 billion for European mezz debt fund
With leverage, Park Square expects the strategy to have €2.2 billion of investable capital

CLO life experiences part I: "We have not reflected the communities we serve"
In the first in a three-part series, Creditflux spoke with senior people of colour in the CLO industry about their experiences. This provides perspective on how the CLO market has evolved and must continue to do so. In today's edition, Citi's Brian Bejile shares his views.  

Telecom Italia spreads dial up as Draghi disconnects network plan
Telecom Italia is among Thursday's underperforming credits in Europe, after the country's prime minister Mario Draghi scrapped plans for a single national fibre network

Credit fundraising: three massive European direct lending funds notch up €17.6 bn
Fundraising figures continued upwards in April as just over $24 billion was raised for credit funds, alongside $3.2 worth of allocations to credit managers. Nine funds held final closes including the largest European direct lending fund raised to date

Alcentra includes 2.1% Euribor cap on triple A tranche in CLO reset
Alcentra has included a 2.1% Euribor cap on the triple A notes in its reset of Jubilee 2013-X

Investcorp partially refis European CLO ahead of reinvestment end in June
Investcorp has partially refinanced the most senior tranche of a 2015 European CLO, Harvest XI

Carlyle and Aflac officials lead new ACC committee with ESG template outlined as priority
The Alternative Credit Council has launched an ‘investor manager committee’, chaired by Carlyle Group’s Erica Frontiero and Elena Boeva from Aflac Global Investments, that has ESG in private credit as one of its first orders of business

Credit and stocks regain composure on rates as oil hits new heights
Credit and equity markets have improved again on Wednesday morning, after US treasury secretary Janet Yellen's comments about possible rate rises spooked markets on Tuesday afternoon