Fund performance
Entering the final three months of the year, CLO funds took a clean sweep of the top 10 spots in the Creditflux tables. October was strong overall, as over 85% of funds listed made positive returns

Trump victory raises hopes for high yield markets, M&A revival
Leverage finance markets cheered Donald Trump’s win on the prospect the former president’s return to the White House will unleash deregulation and M&A, lower taxes and higher economy growth

BNP Paribas announces negotiations to buy AXA IM
BNP Paribas said it entered exclusive talks to buy AXA's asset management unit and set-up a partership for EUR 5.1bn

November 2023 US Leveraged Highlights
Debtwire today releases the November 2023 US Leveraged Highlights, featuring key trends in the leveraged loan and high-yield bond markets

Aquarian buys minority stake in Obra
Obra Capital revealed in Monday that it had sold a minority equity ownership stake to Aquarian Holdings

Fund performance
Positive August for credit sees CLO funds on top again

CLO funds are hot in summer as they take nine spots in top 10 (Fund performance)
CLO funds took the lead through summer as the returns of the category index reached 1.88% and 3.18% in June and July, respectively. Both months saw a CLO fund as the top performer — Sound Point Meridian in June, and Oxford Gate Master Fund in July.

ICG hires new global head of credit
Asset management firm ICG has hired ScION Tech Growth Chief Executive Officer Mathew Cestar as the firm's global head of credit

Carlyle names future CFO
Carlyle has named John Redett its new chief financial officer and head of corporate strategy, the company has said.

Pimco eyes CLOs as part of new flexible credit interval fund
Pimco is preparing to launch a new closed-ended, non-listed interval fund, named Pimco Flexible Corporate Income Fund, which will invest at least 80% of assets in corporate debt across public and private credit markets

Credit Suisse/UBS deal to create $5 trillion asset manager
The emphasis is set be on wealth and asset management, according to a statement released by UBS in conjunction with its move to acquire Credit Suisse

LP round up: 27 managers find the top corner with investor wins
Credit fund managers like to take it one fund at a time and give it 110% for their 90-minute investor fund pitches - and it's working as $3.8 billion was allocated during November and early December. The gaffer would be proud. 

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”

LP round up: $2.7bn flows to 20 credit managers as investors battle PE overallocation
Investors faced huge headwinds in September with inflation, rising interest rates, and geopolitical turmoil, alongside the UK gilts sell-off at month end

Nomura readies multi-strat credit interval fund launch
Nomura Private Capital is readying the launch of a new, closed-ended interval fund which will invest across the credit spectrum - including bonds, loans, CLOs, distressed debt emerging market debt

LP round up: 28 credit managers win $6.6 billion as San Diego carves private credit allocation
Pensions allocated over $6.6 billion to credit managers in June including Angelo Gordon, Antares, Apollo, Ares, Beach Point, BioPharma, Brookfield, CarVal, Cerberus...

Fund performance: Groundhog Day as 2021 leaders start strong
CLO funds once again claim the most top performing spots as seven out of 10 funds belong to the category

LP round up: two CLO funds win support as Cali pensions home in on private credit
Two investors revealed allocations to European and US CLO funds, private credit allocations increases and private credit consultant searches get underway

Three-month term Sofr spikes ahead of rate hikes to bridge gap to Libor
Three-month term Sofr rates have shot up in the last few days with sources saying March interest rate hikes are being fully priced in. Three-month Sofr hit 17.11 basis points on Friday having been at 14.52bp on Tuesday and just 9.11bp at the start of the year.

LP round up: CLO fund included in whopping $13 billion of credit allocations in November
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 

Highland files lawsuit against former founders and senior executives
Highland Capital Management has filed a lawsuit against several former senior-level executives at the firm, including co-founders James Dondero and Mark Okada

Middle east firm hires high profile loan official to build on control CLO equity business
Middle east asset manager Lakemore Partner is doubling down on CLOs with the control CLO equity investor hiring one of the biggest names in the loan and CLO management business

It's all relative: CDX HY touches record tights but junior US CLO tranches leak wider
Credit spreads are marching tighter, but someone forgot to tell the CLO market. European and US CDS spreads have moved in step with each other for the most part with investment grade and high yield tightening 4-6% in the last week, whereas CLOs have been losing ground

Axa IM extends palm oil policy to cover ecosystem protection and deforestation
Axa Investment Managers says it is expanding its 2014 policy of excluding investments in companies which do not have sustainable palm oil production certificates by factoring in deforestation and ecosystem protection

Lord Abbett prepares special situations interval fund
Lord Abbett is preparing to launch a new special situations fund in the form of an interval fund