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US loan trading: McDermott downgrade leads to CLO outflows as managers board rail road firm
4 years ago
US freight railroads operator Genesee & Wyoming allocated its $2.55 billion term loan in November, making it the most popular issuer in the month. And CLO managers were sceptical of the outlook for McDermott Technology - signalled by $185.9 net outflows - after Moody's downgraded its corporate family rating from B3 to Caa2 -
Portfolio managers wary of US default rates, IACPM survey reveals
4 years ago
Portfolio managers are more pessimistic about North American corporate defaults in the next 12 months than other global regions, according to the latest survey by the International Association of Credit Portfolio Managers -
Pathway closes second private credit fund at $1 billion
4 years ago
Pathway Capital Management has held a final close on its second private credit fund at $1 billion -
Golub BDC originates $271 million in bumper Q4
4 years ago
Golub Capital BDC disclosed last week that it had originated $271.1 million in middle-market investment for the quarter ending 31 December 2019 -
Creditors left with sour taste as two food companies file for bankruptcy
4 years ago
Credit investors have been left to digest two US food company bankruptcy filings this week, with dairy producer Dean Foods triggering the first credit event to hit on-the-run series 33 of the CDX HY index, while Houlihan's Restaurants has also sought protection -
Credit traders' kickstand: trade troubles threaten volatility "sooner than you think"
4 years ago
Most of the credit market goes into the coming week in a more nervous mood than it began this week, with hopes for the resuming US-China trade talks tempered by the US’s opening of a new front with Europe on trade -
US loan trading: Sinclair loans dominate the airwaves as CLOs tune in
4 years ago
Sinclair Broadcasting Group and Diamond Sports – both subsidiaries of issuer Sinclair - worked their way into CLO portfolios in July, with 91 managers purchasing $1.42 billion of the loans in July -
Commonfund seeks to diversify manager pool with new portal
4 years ago
Commonfund will launch an online 'diverse manager portal' designed specifically to receive due diligence materials from women and minority-led managers investing in equities, fixed income and credit, real estate and hedge funds -
iTraxx and CDX roll provisional lists reveal effects of index overhauls
4 years ago
Eagerly awaited provisional lists are out for this month’s index CDS rolls, with big changes signalled across iTraxx and CDX products -
Och-Ziff revenue tumbles despite inflows to credit funds and CLOs
4 years ago
Och-Ziff Capital Management posted a net loss of $8.6 million in the second quarter, which it blamed on the market’s reaction to US China trade tensions and the US Federal Reserve’s twist of monetary policy -
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 -
Clover Tech cov-lite loan blots CLOs after spilling a third of its value
4 years ago
The past week’s biggest declining loan by some way, for printing cartridge maker Clover Technologies (aka 4L Technology), is a worry for CLO portfolios as some 21 managers hold the name, according to CLO-i -
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 -
Ninepoint teams up with US direct lender for fund launch
5 years ago
The move comes after the Canadian asset manager launched a new trade finance fund earlier this week -
Virginia pension fund commits to Asian private credit
5 years ago
Virginia Retirement System (VRS) approved a $150 million commitment to the SSG Capital Partners V fund at a January board trustees meeting, a spokesperson has confirmed. -
Neiman Marcus loan slumps amid debt restructuring talks
5 years ago
The luxury fashion retailer’s $2.95 billion cov-lite term loan B, due October 2020, traded down 1.65%, according to IHS Markit -
Monroe launches $1.33 billion US direct lending fund
5 years ago
With leverage, Monroe Capital will have more than $2.5 billion of capital available for investments -
24 CLO managers hold J Crew loan as it drops 4.62%
5 years ago
A total of 109 CLOs hold $219.4 million exposure to J Crew, whose Term Loan B traded down 4.62% from yesterday -
Blackstone grows credit assets by 31% over year
5 years ago
The firm achieved strong fundraising in credit, taking credit-related assets under managment to $130.6 billion in the third quarter, a 31% increase year-on-year -
Ellington teams up with Princeton to launch opportunistic credit interval fund
5 years ago
Ellington Management has teamed up with Princeton Fund Advisors to launch an opportunistic credit interval fund -
Alameda County approves $33 million investment in senior loan fund
5 years ago
Alameda County Employees’ Retirement Association has approved a $33 million commitment to a senior debt fund managed by Abry Partners -
Axonic unveils plans for credit interval fund
5 years ago
New York-based Axonic Capital has registered its income producing offering Axonic Alternative Income Fund with US regulators -
Credit drives strong returns for five of the largest asset managers in the business
5 years ago
Carlyle is close to hitting its ambitious fundraising target; direct lending has been kind to Ares; and Och-Ziff has decided to shed its US CLO risk retention stakes after exiting its financing agreements -
Onex raises $314 million for debut direct lending fund
6 years ago
Onex Credit Partners has raised $314 million for Onex Credit Lending Partners I - which has a $500 million target size, according to US SEC filings. -
Hermes launches £185 million unconstrained credit fund
6 years ago
London-based Hermes Investment Management has launched a new Ucits-compliant unconstrained credit fund - which will include pricing ESG risks
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