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What's wrong with non-sponsored direct lending?

Points up front
Natixis's Hernan Quipildor's secret talent and why those looking to launch a hedge fund business should pick their company name wisely  

Boutique CLO managers boss secondary market
Creditflux analysis shows that, when their total assets are taken into account, small managers' CLOs are more liquid than those of large managers 

Are you resets in disguise? - CLO specialists analyse new issue volumes
CLO volumes have been boosted by refis, resets and now repacks? Top CLO names analyse CLO formation at the Creditflux Credit Symposium

Prytania fund registers big gains after transitioning from CLO debt to equity
Prytania Investment Advisors has continued its impressive start to 2017

CLO round-up: Investcorp tops table of highest 2.0 equity distributions
This month has seen the largest 2.0 CLO equity distribution ever, according to CLO-i data

BlueBay, Brightwood and Permira win private debt mandates
BlueBay Asset Management, Brightwood Capital Advisors and Permira Debt Management have been tasked with overseeing a London pension fund’s direct lending portfolio

CLO round-up: CSAM prices US triple As at tightest levels since 2013
CLO spreads have been grinding tighter this year and last week saw Credit Suisse Asset Management achieve the tightest triple-A spread in the US market since June 2013, according to Creditflux data

Waterfall looks to add derivatives to its credit managed account
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

Secondary CLO round-up: investors bid up 2013 BlueMountain CLO
The secondary CLO market slowed down last week, but there was still plenty of mezzanine CLO paper in for the bid, according to data from CLO-i.

Senior distressed specialist leaves GSO after fund closure
Shortly after shutting down its distressed debt fund, GSO Capital Partners is understood to have parted company with a senior managing director and key figure in its distressed business

Investcorp draws up plans for dual risk retention-compliant CLOs
Investcorp Credit Management has recently issued its first European CLO following the sale of the business, formerly known as 3i Debt Management (or 3iDM), to Investcorp and the deal looks like being the first of a number of dual risk retention-compliant offerings from the manager

Credit managers morph into eco-warriors as ESG demand escalates
Credit market participants are watching their carbon footprint with green and ethical investing being all the rage

Credit manager bucks the trend by shifting into private equity
A host of private equity firms are planning direct lending funds, but one direct lender is moving in the opposite direction  

Citi tests the market for three-year bespokes
There is increasing appetite for credit derivative risk with Citi looking to extend the maturity of its deals 

Diverse Prytania fund posts promising 2017 gains
Prytania Investment Advisors has got off to a strong start in 2017 with the manager’s Athena Fund gaining 8.4% through February

Past returns: early risk retainers
Five years ago in Creditflux we reported on JP Morgan shutting down its special situations prop trading desk in London