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Global corporate defaults on fastest pace since 2009 according to S&P
1 month ago
The number of corporate defaults has risen dramatically year-to-date, according to S&P Global Ratings, driven by a doubling of the rate of defaults in Europe -
Barclays won't let sleeping dogs lie after another Newfoundland CLO reset
1 year ago
Newfoundland CLO, the long running and world's largest balance-sheet CLO, has been given a new leash of life by upsizing in a reset yesterday, according to announcements from Moody’s and Scope Ratings. -
Credit Rendezvous: Make yourself comfortable, there’s a storm coming
1 year ago
In our Q1 outlook, we speak to Edwin Wilches, PGIM (US CLOs), Mikkel Sckerl and Flemming Dose, Capital Four (European CLOs), Jim Fitzpatrick, CQS (US loans), Loic Prevot, Polus (European loans), Madelaine Jones, Oaktree (global high yield), Art Penn, Pennant Park (US direct lending), Mattis Poetter, Arcmont (European direct lending), Keerthi Raghavan, Waterfall (structured credit), Ray Costa, Benefit Street (distressed), Grant Webster, Ninety One (Emerging markets), Oumar Diallo, Aeon (real assets) for their views for the upcoming quarter. -
European credit specialist rejoins Allspring
1 year ago
An experienced European loan and high yield specialist has returned to Allspring Global Investments after a spell at Western Asset Management -
CVC plots further quasi-CLOs after landmark €400 million deal
1 year ago
CVC Credit closed a CLO-like’ vehicle backed by senior secured loans in December. Officials at the firm say they are in early stage discussions to launch similar vehicles after interest from equity investors" -
"This ‘higher rates for longer’ saga is more like the 1920-21 depression than the 1970s high inflation era"
1 year ago
Sometimes you have to swallow your medicine and take a step back to go forwards -
Fund performance: Wake us up when September ends
1 year ago
After a resurgent August, credit markets hit a rough patch in September, with every Creditflux index posting negative returns, and only 12.9% of funds in our listings showing a positive return. -
Widening asset/liability gulf will hurt CLOs: Barclays
1 year ago
A mismatch between CLO asset / liability rate risk is increasing in the US as more leveraged loan issuers opt for one-month pay frequency, Barclays credit strategists have found -
Spac pricing hints at Sound Point's growth ambitions in loan market
2 years ago
Sound Point Acquisition Corp has priced a $225 million IPO, signalling that credit asset manager Sound Point Capital Management is looking to expand its platform -
Alcentra makes leadership changes as European CLO head Rainbow goes part-time
2 years ago
Alcentra has announced changes to its leadership team with co-chief investment officer of liquid credit Graham Rainbow deciding to take on a part-time role at the firm -
"In some ways, CLOs resemble a quirky, cottage industry more than a trillion-dollar market"
2 years ago
CLO volumes outstanding have passed $1 trillion, but index omission and private placements are holding us back -
"The heterogeneous set of KPIs make comparisons difficult and self-policing hurts credibility"
3 years ago
Loans with ESG ratchets are popular and a good way to align incentives – but we need accountable external reviewers -
Natixis IM hires CEO with incumbent Raby set to depart
3 years ago
Natixis Investment Managers has hired Generali's chief investment officer to lead the firm from 12 April -
Sterling-heavy loan b-wic points to PGIM CLO
3 years ago
A £233 million-equivalent portfolio of bids wanted in competition (B-wic) on loans, comprising £177 million worth of sterling paper and €65 million of euro paper, is almost identical to collateral of PGIM’s Dryden 63 GBP CLO 2018 -
Moving fast pays off for hedge funds
3 years ago
2020 was an up and down year in credit, and credit hedge fund managers had to move quickly to capture opportunities from the dislocations that inevitably opened up -
MeDirect names replacement corporate credit head following Curtis departure
3 years ago
MeDirect has hired a former NatWest Markets official as head of corporate credit -
Questions will need answering about where a manager's fiduciary responsibility lies
3 years ago
A university lecturer gives Welshcake a shock with a CLO presentation that points to shady trading games -
Morgan Stanley hires leveraged loan MD from Credit Suisse
3 years ago
Morgan Stanley has hired a leveraged loan managing director in London with over 15 years' market experience -
Bridgepoint buys EQT's credit business - report
3 years ago
Bridgepoint is buying the credit business of EQT, according to the Financial Times -
Oaktree mixes defensive with opportunistic in new fund for recent hire
3 years ago
Oaktree Capital Management has launched a standalone absolute return fixed income fund for recent hire Brad Boyd, according to market sources -
CLOs look at flipping frequency switch as corporates hold cash
3 years ago
European CLOs could be set to flick their ‘frequency switch mechanisms’ as a growing number of corporations go from paying quarterly to semi-annual coupons -
A different kind of crisis
3 years ago
Panellists on Creditflux’s US CLO webinar were positive about the robustness of CLO structures and the role of cure contributions. But they warned about zombie defaults and gaming tests -
Sculptor doubles global credit exposure in master fund amid dislocation
4 years ago
Sculptor Capital Management has doubled its global credit exposure in its Master Fund during the covid-19 volatility, according to the firm’s Q1 earnings call -
EQT undertakes strategic review of credit business
4 years ago
EQT has announced a review of its credit business with the firm appointing JP Morgan to evaluate its 'strategic options', according to the firm’s Q4 2019 report -
‘Buying the dip’ is going to be a poor investment strategy when the next downturn comes
4 years ago
The next credit downturn will be shallower but more prolonged than the last, so what works will be different, too
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