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Manager looks to cut HY exposures in CLO-heavy credit interval fund
1 year ago
A credit fund manager has provided a performance update on is multi-strategy closed-end credit fund through regulatory filings, revealing it has beat its benchmark from 1 April to 30 September despite losing 13.66% -
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 -
Fund performance: Groundhog Day as 2021 leaders start strong
2 years ago
CLO funds once again claim the most top performing spots as seven out of 10 funds belong to the category -
Credit Rendezvous: the upside of inflation
2 years ago
It is clear, inflation is not transitory and central banks are acting with several interest rate hikes likely in store for the US this year. That makes loans and CLO debt tranches attractive, but there could be opportunities beyond these floating rate assets -
Gapstow expects strategic deals as credit manager M&A volume slumps to $120 billion
2 years ago
M&A volume involving credit asset managers dropped last year with total target value assets under management slumping to $120 billion from $149 billion in 2020 (and $254 billion in 2019), according to Gapstow Capital Partners -
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 -
Credit fundraising: managers take care of infrastructure with new partnerships
2 years ago
Credit managers were busy launching new partnerships to support growth in infrastructure and CLOs. There were 13 announcements in the month paving the way for upcoming funds, platforms, and joint ventures -
Fund performance: CLO funds outperform as two hit over 100% 12-months return
2 years ago
CLO funds swatted away the competition in April on their way to dominating our top 10 credit hedge fund return table after an upbeat month -
Blackstone and Credit Suisse among participants in talks for new ESG loan index
3 years ago
European leveraged loan market participants – including Blackstone and Credit Suisse – are said to be in the process of launching the ESG loan index -
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 -
Carlyle holds first close on opportunistic credit fund amid 2020 'record fundraising'
3 years ago
Carlyle Group has held an initial closing on its second opportunistic credit fund amid a record credit fundraising year for the firm -
Fund performance: CLO funds keep up momentum as Napier Park finishes top
3 years ago
2020 ended with funds in our CLOs category taking the top few spots -
Credit fundraising: January proves anything but dry for manager inflows
3 years ago
After a tough and unpredictable year, January may have been seen by many as an opportunity for a fresh start. But for seven managers it meant holding final closes on funds, while three undertook first closes and one a fund launch -
Credit Rendezvous: heading for homes
3 years ago
Fund managers in structured credit, real assets and distressed are bullish on the prospects for residential housing in 2021. Elsewhere, niche royalty-based strategies are in favour and although a CLO repricing wave is expected, it may not be easy to execute resets. For more, read our 13-page quarterly report on credit. -
LP round up: $5 billion flows to credit as private market allocations increase
3 years ago
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux -
Alcentra appoints DeSimone as CEO
3 years ago
Alcentra has appointed Johnathan DeSimone as chief executive officer following David Forbes-Nixon’s decision to step down and take an investment role at the firm -
Barclays increases European loan and CLO issuance forecasts
3 years ago
Barclays has increased its European leveraged loans issuance expectations due to “better than expected recovery in issuance from M&A and LBO activity”, while its European CLO 2020 issuance forecast increased to €15 billion-€18 billion, up from a previous estimate of €12-15 billion -
KKR takes covid-19 hit on flagship credit funds and lev fin
4 years ago
KKR took a 16% hit to returns on its alternative credit flagship funds amid the first quarter coronavirus downturn and a 13% loss on leveraged credit, taking these into negative territory for the last 12 months. The firm's private equity portfolio also slumped by 12% -
PRI unveils ESG workstream for CLOs, loans and ABS
4 years ago
Principles for Responsible Investment has established a workstream on environmental social and governance standards in structured products -
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 -
CBAM plans expansion with new $60 million credit facility
4 years ago
CBAM has closed a $60 million credit facility to refinance a working capital facility to its parent company Eldridge Industries -
CIFC beefs up investor relations team in London with two hires
4 years ago
CIFC Asset Management has hired from Muzinich and Murano in a bid to strengthen its European investor relations effort -
Western to launch European loan business after hiring portfolio manager
4 years ago
Western Asset Management is launching a European corporate loan business after hiring an experienced credit portfolio manager with a background rooted in the CLO industry -
Managers dispel myth that lenders can’t influence ESG
4 years ago
There’s a growing belief among credit fund managers that they can influence borrowers to take on ESG-friendly practices, contrary to the widely-accepted notion that the business practices of companies are dictated by their private equity owners. -
CLO supply set for double-digit drop in 2020, says JP Morgan
4 years ago
US CLO supply in 2020 will be as much as 20% down on 2019, while European issuance will fall 13% year-on-year, predict JP Morgan strategists in a research note. Even so, new CLOs should still outpace existing deal paydowns, as well as high yield primary market net new issuance
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