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CLO market splits en route to Volcker rule compliance
3 years ago
Volcker rule amendments freeing CLOs from many of the restrictions of the past decade came into law on 1 October, allowing managers greater flexibility in how they invest their portfolios. But the market is split on how exactly CLO documents should be structured as the first slate of unrestricted CLOs print -
Points up front: A6, and with good reason
3 years ago
It’s not a hedge fund if it doesn’t have some sort of reference to nature, be it hills, mountains, trees or rivers. But when Michael Fine, the former head of corporate credit at LibreMax Capital, launched his distressed debt firm in July, he resisted the urge and came up with a heart-warming reason for naming his company A6 -
Credit hedge funds (October 2020)
3 years ago
Monthly credit hedge fund tables -
Ucits at a glance: Advent and Algebris edge towards double digit returns
3 years ago
Two managers stand out in the Ucits rankings as they close in on 10% YTD figures -
Credit funds at a glance (October 2020)
3 years ago
A round-up of fundraising and people moves -
Fund performance: A third of funds reach positive territory in 2020
3 years ago
August has been another successful month for the CLO category as seven of the top 10 funds invest primarily in CLOs -
SVP collects $1.65 billion for dislocation fund in four months
3 years ago
Strategic Value Partners has closed fundraising for its Strategic Value Dislocation Fund with around $1.65 billion in commitments -
BlueBay hires former Marathon European CIO for special situations unit
3 years ago
BlueBay Asset Management has poached an official from Blantyre Capital to take on the newly created role -
Credit fundraising: managers build homes for real estate credit funds
3 years ago
The “largest ever real estate credit fund” was one of the fundraising highlights last month as Blackstone’s Real Estate Debt Strategies IV fund reached $8 billion on its final close -
Bain prepares credit dislocation strategy
3 years ago
Bain Capital Credit looks set to raise a fund dedicated to opportunities arising from credit dislocation, just four months after collecting $3.2 billion for its latest distressed debt and special situations vehicle -
Dealers cut Pizza Express final price to shape of pizza
3 years ago
An auction to settle Pizza Express CDS ended up paying out almost 100% to buyers of protection, with dealers driving the final price even lower than they had initially bid -
Pizza Express auction leaves protection sellers with just pineapple
3 years ago
An auction to settle Pizza Express CDS looks set to leave protection sellers with little solace, after the first round of bidding indicated a high pay-out on contracts referencing the UK-based restaurant chain -
Mediobanca's private markets division raises $120 million for third fund
3 years ago
Mediobanca’s private banking division and Russell Investments have held a $120 million final close on a third private markets fund -
Europe/US high yield gap re-opens with roll, but raises fair value questions
3 years ago
The semi-annual roll of US high yield index CDX HY has once again put daylight between it and European counterpart iTraxx Europe. But the new series has come in tighter than some market participants had anticipated -
CLOs hold €250 million of defaulted French events organiser Comexposium
3 years ago
CLOs hold €246.1 million of French events organiser Comexposium, which entered safeguard protection in the Commercial Court of Nanterre on Wednesday -
Seaport hires veteran for European loan trading push
3 years ago
Seaport Global, an investment bank focused on capital markets, has hired a leveraged finance veteran as a managing director in Emea loans trading -
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 -
Pizza Express auction date set with two bonds on initial list
3 years ago
Pizza Express 2014-version CDS contracts will be settled at auction on 1 October, following the UK food retailer’s triggering of a failure-to-pay credit event this month -
Arrow hits €1.5 billion third close on inaugural European NPL fund
3 years ago
Arrow Global Group has held a third close on its inaugural pan-European nonperforming loan fund -
Apollo launches another hybrid debt-equity value fund
3 years ago
Apollo's hybrid value strategy has the ability to invest in both credit and equity, focusing on capital solutions, structured equity and non-control stressed and distressed investments. -
Banks regain composure to lead rallying charge
3 years ago
Financial names are among today's outperformers, reversing the trend of the early part of this week, as credit spreads return tighter -
Fracking servicer FTS files for chapter 11 protection
3 years ago
Fracking servicer FTS International filed for chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas Houston yesterday. The credit is not widely featured in CLOs with only nine managers holding $47.9 million of FTI’s term loans -
US investors piled into structured credit and private lending in 2019, Gapstow finds
3 years ago
US institutional investors' allocations to 'alternative credit' increased 12% year-over-year in 2019, according to research by fund of funds manager Gapstow Capital Partners -
Sculptor promotes two after European credit head leaves for Pimco
3 years ago
Sculptor Capital Management has filled the void left by Mathieu Clavel, its former head of European and Asian corporate credit in Europe and Asia, by promoting two senior figures in its credit business -
Europcar slumps closer to default pricing in bonds and CDS
3 years ago
Europcar, the French car hire firm, is heading fast towards recovery-only levels with CDS and bond prices reflecting deeper distress
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