Deutsche hires credit strategy head from rival bank
Deutsche Bank has hired a new head to oversee European and US credit strategy

It's Nochu it's me: bank backs out of CLO triple A tranche as it takes sideline
Triple A CLO investor Norinchukin is understood to be taking a pause from investing 

Axa IM and InPact close €395m global revolving credit facility fund
AXA Investment Managers and InPact Partners have closed their second vintage revolving credit facilities fund, RCF II, with over €395 million in capital commitments

CLO portfolio metrics "hit an inflection point", says S&P
US CLO credit metricts "have hit an inflection point in recent months and started to turn towards the negative", according to new research from S&P Ratings

Fidelity Investments eyes CLOs as part of multi-strategy credit fund
Fidelity Investments is preparing to launch a new multi-strategy credit fund, which will “opportunistically rotate across the entire credit spectrum”

UK adds itself to sour global cocktail with investors given another shake
US investors are returning to a sour mood across global markets on Tuesday, with escalating warfare in Ukraine, Chinese covid cases at a two-month high, the Biden administration in a standoff with China over microchips, and the UK still managing to hold focus for economic mishap

Churchill raises $12 billion for senior lending strategy
The total includes closes of Churchill's levered, unlevered funds and separately managed accounts

GreensLedge AM targets IG-rated CLO tranches with $500m fund
GreensLedge Asset Management has made a breakthrough with its first commingled CLO fund through a $500 million vehicle that invests in senior CLO tranches

PGIM to pair with Nomura for second new US CLO of 2022
PGIM is working with Nomura on a forthcoming CLO named Dryden 106, which is set to be the manager's second new issue arranged by the bank this year

Weak opening for markets as BoE makes new intervention and Asia sell-off extends
In the absence of the US market on Monday for the country’s Columbus Day holiday, global markets have extended their bearish direction following US jobs numbers on Friday that point to further hawkishness in the outlook for rate hikes

US managers recalibrate as Euro CLO portfolio spreads rise: Moody's
CLO managers have had to readjust this year and data from Moody’s Investor Services shows weighted average rating factor scores for all US CLOs have held steady, while weighted average spreads have dropped 0.15%

US jobs strength sends traders scrambling to cut Fed pivot trades
Credit spreads are ending the week on a sharp move wider, with a heavy sell off hitting financial markets in the wake of US jobs numbers that suggest any notions of a Fed pivot on rates are premature

Fortress goes for longer tenor as CLO spreads widen
Fortress Investment Group has priced a new US CLO with a four-year reinvestment period and pricing at the wider end of recent issues

Warwick confirms US CLO plans by signing up to Allvue package
Warwick Capital Partners has confirmed its ambition of becoming a US CLO issuer by saying is has selected Allvue Systems to support its build-out

Former Ares partner resurfaces at US multi-strategy asset manager
An experienced credit portfolio manager who worked at Ares and BlueBay has returned to the credit industry 

Blackstone markets 11th US CLO of year
Blackstone Credit is marketing a $389 million new CLO, which is set to be the firm's 11th US deal of the year

CIFC hires Carlyle's credit investor relations head
CIFC Asset Management has hired T Michael Johnson as managing director and co-head of business development

"Value persists in IG, but higher interest rates are a threat. Opening the synthetic toolbox can help"
Fiscal and monetary policy are pulling in opposite directions, but value in IG can be accessed via CDS and CSOs

What matters is what you do with it
CLO managers yearn for flexibility so they can take advantage when credit sells off. But it isn’t enough on its own: triple C-flex CLOs saw portfolios erode this year, while CBOs outperformed

CLO rankings: manager AUM, advisory firm and trustees Q3 2022
After a frenzy of acquisitions reshaped the manager assets-under-management tables in the first half of the year, challenging market conditions have slowed the pace of both acquisitions and pricings

Mid market CLO league tables: Golub gains ground on Blackstone with rare euro-tranche deal
Four managers - Blue Owl, Golub, Monroe and PennantPark - priced new issue mid market CLOs in September

US CLO league tables: BofA’s big month opens gap with Citi but Palmer Square closes in on Blackstone
After a quiet August, the US CLO market returned to what is the new normal (or new, new normal depending on the timeframe you're using). Managers priced $11.3 billion of US CLO paper last month, extending a trend

Global CLO league tables - September YTD
Global CLO league tables - September YTD

One-year CSOs come to fore as investors predict widening
With credit spreads entering the fourth quarter at much the same elevated levels they began Q3, investors are increasingly looking to bespoke tranches as a way of taking advantage while mitigating the market’s tail risks.

Investors tipped to take on key role in growth of CFOs
It’s early days in the renaissance of the market for collateralised fund obligations (CFOs), but market participants are looking forward to how the product will evolve.