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Global Loan Highlights 1Q24: Don’t call it a comeback
2 months ago
Loan refinancing share hits historic high, but IG issuance stymies YoY global growth -
Loan Highlights 3Q23: Loan volumes remain significantly lower than historical averages
8 months ago
Capital markets loan activity continued to struggle in the third quarter of 2023, as issuers in the Americas and Europe held off from tapping markets -
Fund performance: European CLO funds lead the way
1 year ago
February was a positive month for many funds, as only one quarter failed to reach the black. This builds off a stellar start to the year: 96% of funds reached a positive return in January -
Pimco promotes global lev fin and CLO head to managing director
1 year ago
Pimco's leveraged finance head is one of five senior officials promoted to managing director -
Carlyle appoint former Goldman executive as CEO
1 year ago
Carlyle Group have appointed former Goldman Sachs Co-President and CO-Chief Operating Officer Harvey Schwartz as Chief Executive Officer and a member of the board, the firm has announced. -
Sculptor CEO Levin refutes "personal issue" accusation by ex-chief Och
1 year ago
Sculptor Capital Management’s independent board and the company’s chief executive officer and chief investment officer Jimmy Levin have fired back at former CEO and founder Daniel Och after he cited a “personal issue” in reference to Levin’s past -
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 -
We can cope with downgrades again
Having overcome one loan downgrade wave in 2020, the CLO market is now facing another. But this time CLOs are defensively positioned, and managers have a chance to adjust portfolios1 year ago -
Manager selection stakes are heightening as CLO pain points intensify: Barclays
1 year ago
CLOs’ slump in market value and piling of distressed assets have made differentiation between managers much more acute on key metrics, regionally and by vintage, according to Barclays credit strategists -
CSAM does the CLO awards double
2 years ago
Winning the Creditflux Manager of the Year award is a feat in itself. Winning it back-to-back in such different markets is an outstanding achievement — and CSAM can take great pride in it -
"Faltering oil supply is lamentable at a time of strategic and moral shortfall"
2 years ago
We need to accept the pain and cut dependence on Russian oil today -
"The loan market is the septic tank for sub-single B LBO financing"
2 years ago
Portfolios of single name IG CDS are less complex and more liquid than CLOs -
LP round up: Oak Hill wins $3bn mandate as credit allocations near $10bn in March
2 years ago
Institutional investors revealed over $9.5 billion of allocations to credit funds in March. Oak Hill Advisors walked away with the largest mandate, as US heavyweight pension Calpers allocated a whopping $3 billion across several of its funds -
Axa IM launches multi-strat fund for pensions
2 years ago
Axa Investment Managers’ ‘alternatives’ business has launched an open-ended strategy for pension funds -
Fund performance: Déjà vu as April leaders dominate
2 years ago
CLO funds stayed in the top flight for another month as they took over the top 10 credit hedge fund return table in May, when 87% of all funds listed made positive returns -
Woah, we’re halfway there
3 years ago
Judging by the 2020 vintage, European CLO overlap is 50%. But varied approaches to holding bonds and the many loans managers turn down mean there are ways for issuers to outperform -
Credit fundraising: three massive European direct lending funds notch up €17.6 bn
3 years ago
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 -
Beneath the triple C: CLOs benefit as upgrades make for lighter triple C buckets
3 years ago
For the first time since the sell off in March last year, downgrades to triple C have come to a near-standstill -
LP round-up: $2.6 billion flows into 26 credit managers
3 years ago
A stuck ship in the Suez Canal may have prevented others from getting through one of the world's busiest waterways in March, but allocations to credit funds were much more free flowing as investors poured over $2.6 billion into the hands of credit managers -
Vontobel names fixed income trading head amid four senior hires
3 years ago
Vontobel Asset Management has appointed four senior hires to its team including a newly created role of head of fixed income trading -
It's all relative: CLO spreads explore record tights as credit indices hit impasse
3 years ago
CLO spreads are grinding to ever tighter levels, despite a flattish week for credit in which corporate credit indices have ended up more or less unchanged -
It's all relative: CLOs are lagging no more, as Carlyle deal drags market tighter
3 years ago
“CLOs are lagging” has been a much repeated refrain over the last nine months. But Carlyle Group has this week produced a US CLO that has dragged spreads to their tightest point in three years so that, rather than comparing CLOs to pre-covid levels, they should be assessed against early 2018 -
Alcentra co-CIO for liquid credit set to leave this month
3 years ago
A high profile figure in the US CLO business is leaving Alcentra -
LP round-up: investors gift private debt and leveraged loan RFPs over holiday season
3 years ago
2020 ended on a strong note with four institutional investors increasing asset allocation to private debt or initiating private debt and leveraged loan searches. ArrowMark, Banner Ridge, BBAM, HIG Whitehorse, Monroe and Rialto were also awarded mandates -
CLO 2021 outlook: back to the 'old' normal with volumes, spreads and structures to revert to pre-covid levels
3 years ago
Predictions went out the window this year because, well, who in December 2019 could have foreseen a pandemic devastating lives and wrecking financial markets? But the emergence of vaccines to combat the threat of the coronavirus has spurred a rally in credit over the last month. And CLO researchers expect a resurgence in 2021 with US new issue CLO volumes predicted to hit the $80-110 billion range, according to reports analysed by Creditflux.
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