Ucits at a glance: Robus and Altana enter the final sprint neck and neck
A downward turn hit Ucits funds as 65% of them made positive returns in September,

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

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

Niche credit funds make mid-market flexibility count
Funds that have the flexibility to invest in mid-cap debt issuers prospered in September, amid the usual swarm of outperforming CLO funds

They said it: "Remove call option from CLO assets and liabilities"
A CLO investor, commenting in Creditflux’s CLO Census, comes up with a drastic way of making CLO cashflows a whole lot easier to model

Points up front: Definitely not an ex-parrot
One of the biggest credit fund launches last month was Arini, led by star credit trader Hamza Lemssouguer  

Points up front: HPS gives it 200%
One of the biggest fundraisers this year in credit is HPS Investment Partners. Its $11.7 billion Specialty Loan Fund V totals $15.4 billion including leverage

Market seeks new ways to find talent after hectic year
There are growing calls for more people to work in the CLO industry after a record-shattering 2021, with 999 CLO transactions having priced globally worth $447.17 billion, as Creditflux goes to press

"CLO equity investors have long accepted basis risk… but an off-market adjustment does not work"
The 26bp adjustment is disrupting the transition away from Libor — but market forces will prevail

CLO managers join forces as they line up behind SFDR
A plethora of European CLO managers have teamed up with regulatory reporting provider FinDox to form a working group focused on Sustainable Financial Disclosure Regulation (SFDR), sources tell Creditflux.

Ares joins CLO equity fundraising rush with $400 million target
Fundraising for CLO captive equity funds is surging, with Ares Management the latest manager to win capital for such a strategy

Dispersion trades in play as transatlantic rift opens
The return of idiosyncratic risk at the wide end of US and European high yield markets has put index equity tranches for the two jurisdictions on noticeably divergent paths, say correlation traders

Energy crunch grows as differentiator for EM and western credit
Surging energy prices are adding to the inflationary picture in global economies and point to a mounting crisis that could bring sharply divergent performance for different parts of the credit market

Muzinich secures "substantial equity commitment" for new CLO platform
Muzinich’s CLO ambitions – reported by Creditflux late on Wednesday – are being supported by equity capital, both internally and through investors

Birch Grove increases CLO issuance pace with second new deal in three months
Birch Grove Capital has accellerated its CLO issuance after teaming up with Goldman Sachs on its third deal, named Birch Grove CLO 3

Wellfleet issues largest CLO in over three years
Wellfleet Credit Partners has paired with Credit Suisse to print its largest CLO since September 2018

Muzinch hires ex-Ostrum official to launch US and European CLO platform
Muzinich has hired an ex-head of global performing credit at Bardin Hill as a portfolio manager to launch a global CLO platform,

The Last Tranche with New Mountain's Moshiri: New CLO managers may increase risk if they do not have stable equity capital
In this episode of the Last Tranche, New Mountain Capital's Cyrus Moshiri discusses the process of new firms entering into CLO management. Moshiri discusses whether an increase in new managers or consolidation is more likely, and how investors can analyse opportunities presented by upstart platforms

Rental firm accelerates bullish drive despite credit market's heavy braking
Vehicle rental firm Avis Budget and UK retailer Iceland are among rare single name big movers in credit this week, as a tone of caution continues to hold sway over broader directional signals

Real estate manager wins $50 million debt mandate from 'Hong Kong insurer'
Patrizia has secured a $50 million commitment from a Hong Kong insurer to invest in real estate debt

Refi deluge casts shadow on b-wics

Axa IM launches multi-strat fund for pensions
Axa Investment Managers’ ‘alternatives’ business has launched an open-ended strategy for pension funds

Irradiant prints second new US CLO under new branding
The deal takes Irradiant’s CLO volume for 2021 to $2.7 billion

Most investors still behind target with sustainability and impact investing, survey finds
72% of global investors plan to increase their allocation targets to sustainability and impact investing. That is according to a limited partner survey by private markets firm HarbourVest Partners HarbourVest’s 2021 ESG, Sustainability, and Impact Investing Survey of LPs

Vibrant follows CLO investments hire with new addition in business development
Vibrant Capital Partners has hired Zachary Radler as a director in its business development team for North America