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Credit Rendezvous: And breathe...
2 years ago
The unanimous verdict is that credit spreads will be moving wider – they have to. But the difficulty credit fund managers face is predicting when the next sell-off comes and how sharp it will be. In the Q3 instalment of Creditflux’s Credit Rendezvous, the over-riding message from portfolio managers is that there’s little point in taking on too much risk. The report features the views of prominent credit figures including Paul Horvath (Orchard), Himani Trivedi (Nuveen), Ronnie Jaber (Onex), Graham Rainbow (Alcentra) and Michelle Russell-Dowe (Schroders). The report looks at 14 segments of the market including CLOs, direct lending, leveraged loans, distressed debt and credit derivatives. -
US CLO portfolio manager set to join fast-growing Redding Ridge
2 years ago
A US CLO portfolio manager is set to join Redding Ridge Asset Management next month, taking the firm's CLO PM roster to three -
Alcentra hires London-based executive director in liquid loans and high yield team
2 years ago
Alcentra has hired a senior analyst in the firm's liquid loans and high yield team -
Points up front: CLO veteran earns OBE
2 years ago
We spotted a household name in the CLO business among those being feted in last month’s Queen’s birthday honours list — former Alcentra chief executive David Forbes-Nixon was awarded an OBE -
Alcentra and Octagon each reset 2019 CLOs
2 years ago
Alcentra and Octagon Credit Investors each reset a 2019 CLO on Thursday, with the two transactions totalling $861.3 million -
CLO investor departs Alcentra for another buyside firm
2 years ago
A CLO investor has departed from his job at Alcentra and has landed at a boutique European credit manager -
Global CLO trading lab: quality and optionality shine as 2020 and 2019 mezz trades up
2 years ago
The primary and secondary CLO markets are moving in tandem with both markets drifting wider amid a wealth of supply -
Credit fundraising: Audax scores big in lighter month
2 years ago
Fundraising markedly dropped in May, but credit funds still amassed $12.8 billion and 10 credit funds reached final closes across a variety of different strategies -
Alcentra's global CLO fund closes at $484 million and over 50% deployed
2 years ago
Alcentra has closed its fourth global CLO fund, Alcentra Structured Credit Opportunities Fund IV, at $484 million -
Global CLO pricing lab: investors get over fatigue and embrace reset roll over
2 years ago
The demand for CLOs is showing no signs of slowing down after the market had experienced some fatigue at the end of the first quarter and into the second. In the last two weeks, there have been 47 CLO transactions across all forms of pricing in the three markets; led by 18 US CLO new issues -
Alcentra includes 2.1% Euribor cap on triple A tranche in CLO reset
2 years ago
Alcentra has included a 2.1% Euribor cap on the triple A notes in its reset of Jubilee 2013-X -
$1.25 billion of CLO refis span range of tenors
3 years ago
The CLO primary market absorbed $1.25 billion of refinancings as American Money Management Corporation, First Eagle Investment Management, PGIM and Alcentra priced cost-cutting transactions, with different reinvestment periods across the pack -
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 -
Texas pension allocates $50 million to CLO fund
3 years ago
The comes amid a flurry of allocations to CLO funds -
Euro CLO league tables: Refi return spurs European CLOs towards record volumes
3 years ago
A record shattering month as refi wave continues -
European CLO and loan spreads jostle in tight race
3 years ago
New issue CLO spreads have tightened so sharply in Europe that market participants are questioning how long the process can continue. -
High yield fund sets pace with 22% return in January
3 years ago
Wasserstein Debt Opportunities Fund has set the early pace for credit hedge funds in 2021 after registering a 21.7% gain in January. This builds on the high yield fund’s success last year and takes 12-month returns to 40.44%. -
Past returns: Highland sells European CLOs at second attempt
3 years ago
In Creditflux 10 years ago, we reported that Highland Capital Management was offloading its European CLOs, with Alcentra and Barings among the frontrunner -
Alcentra, BlackRock and CVC refi €1.5 billion of European CLO paper
3 years ago
Deutsche Bank arranged the transactions for BlackRock and CVC while Morgan Stanley arranged partial refinancings for three of Alcentra’s deals -
Global CLO b-wic round-up: 2020 deals trade at premium
3 years ago
As the primary CLO market continues to grind tighter, the secondary market is holding steady, but last year's vintages are trading well as they near the end of their call-locks -
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 -
2020 wrap: CLO funds bloom despite rocky ground
3 years ago
2020 was a busy year for CLO fundraising, with Creditflux recording at least 30 funds that launched over the 12 months to invest across the CLO capital structure -
Alcentra closes second European strategic credit fund at €557 million
3 years ago
Alcentra has closed its second European strategic credit fund at €557 million -
Alcentra returns to European primary CLO market after 13 months
3 years ago
Alcentra has priced its first European CLO new issue this year following a 13 month hiatus. Bank of America arranged the €303.1 million transaction -
OC health check: 41 CLOs heal their breaches
3 years ago
147 CLOs breached an over-collateralisation test in October, down from 183 in September. 41 CLOs that breached an OC test in September passed all OC tests in October, most of which had October payment dates
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