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Relative to Airbus, Boeing was long accountants but short engineers
24 days ago
A qualitative approach can help investors spot boards that are too focused on short-term returns -
Värde Partners promotes two to partner
2 months ago
Värde Partners has made two senior-level promotions, including a new global head of business development and investor relations and a new chief operating officer -
New Mexico sovereign wealth fund commits USD 250m to distressed fund
6 months ago
The New Mexico State Investment Council approved a commitment of up to USD 250m to a distressed opportunities fund during its 24 October meeting. -
Brazilian distressed fund gains investor attention internationally
9 months ago
International investors continue to take note as Brazil's Jive Investments raises roughly half a billion dollars for fourth vintage of distressed and special situations fund. -
CLOs hit by bankruptcy of Envision as zero recovery predicted for first lien loans
10 months ago
Envision has joined the growing number of companies to have filed for Chapter 11 bankruptcy. The emergency medical services company, which has been owned by KKR since 2018, announced on 15 May that it was entering a restructuring support agreement. -
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 -
Permira brings in Carlyle European special sits co-head for new business
1 year ago
Permira has strengthened its new strategic opportunities busines -
Senior credit origination head joins Oaktree in London
1 year ago
Oaktree Capital Management has hired a managing director for sourcing and origination -
Are we ready for another crisis?
1 year ago
Credit managers must brace themselves for stress in 2023, as rates rise and the number of poor performing assets increases. But most CLOs look well-placed and can rely on plump OC cushions -
Not every CLO can be a winner
The CLO industry has undeniably performed well enough to justify the plaudits it receives. But there will always be some unloved CLO tranches that slip into triple C territory -
Italian NPLs under spotlight as debt collector spreads blow wider
1 year ago
Intrum, the Swedish debt collection firm, is suffering a sharp push wider in credit spreads after writing down part of a portfolio focused on the Italian market -
Plenty more US CLOs in the CCC as buckets pass 5%, finds S&P
1 year ago
US CLO triple C baskets have nudged to 5.02% in November from 4.4% the prior month -
LP round up: two managers terminated as 20 win $2.5 billion
1 year ago
US institutional investors allocated over $2.5 billion to 20 credit managers in October, according to documents seen by Creditflux. Two credit fund managers however were terminated in the month -
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 -
Franklin Templeton and Benefit Street launch credit interval fund
1 year ago
The pair have launched a multi-strategy credit interval fund named Franklin BSP Private Credit Fund, which will invest across US private credit -
Cineworld buys ticket for DIP facility with chapter 11 filing
1 year ago
Cineworld filed for Chapter 11 in the US Bankruptcy Court For The Southern District Of Texas on Wednesday, less than a month after the UK-based cinema operator announced Chapter 11 was among the options it was considering to “achieve its restructuring objectives” -
CLO x-rays reveal chapter 11-diagnosed borrower
1 year ago
18 CLO managers hold $380.2 million debt of medical imaging and non-destructive testing product provider Carestream Health, which on Tuesday filed for chapter 11 bankruptcy protection in the US Court for the District of Delaware. The firm entered into a restructuring support agreement to slash its debt by around $470 million -
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 -
Revlon spares no blushes for CLO managers in filing for Chapter 11
1 year ago
Troubled lender Revlon Consumer Products filed for chapter 11 bankruptcy late Wednesday night. The default is likely to have a weighty impact on the CLO market -
Bain collects $2 billion for second Asian special situations fund
1 year ago
Bain Capital has collected more than $2 billion for its second special situations fund, Bain Capital Special Situations Asia Fund II. The vehicle had an initial $1.5 billion target -
Pantheon exceeds $500 million target for second private debt secondaries fund
1 year ago
Pantheon has held a final close of its second private debt secondaries fund, Pantheon Senior Debt II, at $834 million -
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 -
Crestline collects $3.6 billion across three private credit fund closes
2 years ago
The Fort Worth, Texas-based manager has closed its fourth opportunistic credit fund, third direct lending fund and second portfolio financing fund -
LP round up: CLO fund included in whopping $13 billion of credit allocations in November
2 years ago
Credit took centre stage in November as investors allocated over $13 billion to credit funds in the month, with one pension allocating $50 million for a European CLO risk retention fund -
Still plenty more fish in the triple C
US CLO triple C buckets are lighter than a year ago thanks to the wave of loan upgrades from Moody’s and S&P. But 48% of downgraded paper is yet to return to a coveted single B rating2 years ago
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