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Frontier bankruptcy dials up pressure for 90 CLOs
4 years ago
Nine CLO managers hold $217 million of Frontier Communications’ debt across 90 CLOs, as the telecommunications company filed for Chapter 11 protection in the US Bankruptcy Court Southern District of New York -
Beneath the triple C: $31.6 billion of CLO credits feel downgrade pain
4 years ago
March madness took a toll on CLOs as Moody’s and Standard & Poor’s downgraded 4.25% of the portfolios in the US and 1.84% in Europe to triple C or below in just one month (some of these were already triple C rated, only to fall further). -
PE firms look to go it alone as credit units reach maturity
4 years ago
Private equity firms are starting to weigh up the merits of housing private debt businesses, with TPG Capital the latest to contemplate splitting with its credit business TPG Sixth Street. It follows EQT Capital, which announced a strategic review in January centred on parting ways with its credit unit. -
You need a balanced portfolio that’s ready for calculated risk taking — so consider a barbell approach
4 years ago
Investors can’t afford to be too conservative as they prepare for the end of the cycle -
Lenders turn to quality over quantity
Bond and loan volumes dropped in August amid signs that US investors are taking a safety-first approach: 46% of issuance was made up of loans rated BB-/Ba3, compared to 33% earlier this year4 years ago -
GSO adds $10 billion to inflows with direct lending, structured credit and energy
4 years ago
Blackstone grew its credit assets under management to $139.3 billion, up 13% on a year ago, according to the firm's second quarter earnings release -
JP Morgan AM names CEO with Willcox set to leave
4 years ago
JP Morgan Asset Management’s chief executive officer Chris Willcox will step down from his job at the end of the year, according to an internal memo seen by Creditflux -
Crossover sell-off risks heightened after Brexit vote, says BNP Paribas
5 years ago
The risk of a bearish pullback in European crossover credits has increased as a result of yesterday’s UK parliament vote against Prime Minister Theresa May’s Brexit approach, according to a BNP Paribas trading note -
Muzinich poaches Neuberger Berman MD for top fund distribution role
5 years ago
Muzinich has hired a global head of distribution, according to an announcement today, picking up the role previously held by Joshua Hughes, who left for CIFC Asset Management in May -
GAM appoints former DWS official as global head of trading
5 years ago
Zurich-headquartered GAM Investments has appointed an ex-DWS trading head to the newly created role -
Managers spot opportunity as leveraged loans soften
5 years ago
An abundance of US leveraged loan issuance helped soften secondary prices even though the overall market is highly bid. Meanwhile, investors’ preference for floating rate paper hit high yield -
Higher leverage is on the horizon - but, for now, take in the MFN sunsets
5 years ago
It’s clear from our analysis of most favoured nation protections and sunsets that strong demand for loans is enabling borrowers to insist on advantageous terms even as they increase leverage -
Hermes launches £185 million unconstrained credit fund
5 years ago
London-based Hermes Investment Management has launched a new Ucits-compliant unconstrained credit fund - which will include pricing ESG risks -
Credit boutiques shine bright in Morningstar’s list
6 years ago
Morningstar’s five-star rating has recently been bestowed on a number of boutique credit managers -
Hermes to debut ESG unconstrained credit fund
6 years ago
Hermes Investment Management is set to launch an unconstrained credit fund this year -
High Ucits fees? Change strategy or face liquidation, report suggests
6 years ago
Substantially high fees on Ucits have led some funds to merge or liquidate, France’s stock market regulator says -
Ropes & Gray announces 33 promotions including finance and hedge fund professionals
6 years ago
Law firm Ropes & Gray has promoted 33 lawyers to counsel of the firm, with the attorneys representing a range of practice groups including finance, investment management, hedge funds and private investment funds -
Retail sector ailments could easily turn into pandemic
6 years ago
Credit’s retail malady is infectious and uncontainable as retailers face up to obsolete business models -
Alcentra raises €690 million for closed-end credit fund
6 years ago
BNY Mellon subsidiary Alcentra has closed its Clareant Strategic Credit Fund with sales of €690 million. The vehicle, which originally had a target size of €500 million, is dedicated to opportunistic investing in the loans, bonds and structured credit of European companies -
Leading fund: Lupus Alpha CLO Opportunity Notes I
6 years ago
Single-B CLO trades boost Lupus Alpha asset Management -
Former CIFC special situations head resurfaces at $30 billion credit manager
7 years ago
CIFC's former head of special situations has joined a $30 billion credit manager which became an independent firm in March 2016, according to market sources. -
Heading tighter into uncertainty
7 years ago
Tightening loan spreads are making the job of a CLO manager harder in both the US and Europe. But credit volatility could be on the horizon -
Citi hires for financials credit sales amid market volatility
7 years ago
As financial markets are on the tip of everyone’s tongue, Citi picks up experienced sales specialist -
Points up front: turning to drink
9 years ago
After eight years at UBS, corporate bond trader Mike Turner has turned to drink -
High yield manager plans debut CLO after key portfolio manager hire
10 years ago
Market sources say that an established money manager is planning its first CLO after 30 years specialising in fixed income strategies
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