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CLO funds are hot in summer as they take nine spots in top 10 (Fund performance)
8 months ago
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. -
LP round up: HPS wins $550m mandate as Ares launches third US direct lending fund
1 year ago
US institutional investors allocated nearly $3 billion to credit funds in April. The news comes amid a BlackRock survey in the month which showed significant investor interest in private credit -
LP round up: opportunistic credit dominates as investors allocate $2.2 billion
1 year ago
US institutional investors invested at least $2.2 billion to credit funds in March, according to documents seen by Creditflux, with opportunistic credit funds dominating commitments -
Beneath the triple C: Life could be better, but it’s just a letter, under the CCC
1 year ago
Many market participants were eagerly looking forward to a break in December after a gruelling year, but the rating agencies were in no mood to oblige. -
Not every CLO can be a winner
The CLO industry has undeniably performed well enough to justify the plaudits it receives. But there will always be some unloved CLO tranches that slip into triple C territory -
Bond tenders bring outperformance as credit fends off commodity woes
1 year ago
Credit markets are managing to stay remarkably robust this week despite high volatility in oil prices and covid deaths in China undermining hopes for its economy to reopen -
Egypt works its Sharm on credit markets
1 year ago
Egypt looks to be reaping the benefits of hosting the Cop 27 climate summit in Sharm el-Sheik, with the country’s credit spreads on a sharp rally this week -
Beneath the triple C: Stormy October hits CLOs with rising tide of downgrades
1 year ago
After a slight respite in the pace of downgrades over the summer for CLOs, October brought renewed momentum as macro-economic pressures - primarily high interest rate burdens for corporate borrowers and supply side inflation - became the recurring rationale -
Castlelake secures $782 million for credit fund
1 year ago
Castlelake Income Opportunities II will invest in areas including European commercial real estate, transitional bridge lending in North America, specialty finance and secured aviation related lending -
LP round up: two managers terminated as 20 win $2.5 billion
1 year ago
US institutional investors allocated over $2.5 billion to 20 credit managers in October, according to documents seen by Creditflux. Two credit fund managers however were terminated in the month -
GoldenTree hits $3bn hard cap on distressed debt fund
1 year ago
GoldenTree Asset Management says it has closed its latest distressed debt fund, Distressed Fund IV, at its $3 billion hard cap -
Beneath the triple C: US CLOs take a dip in the triple C as Europe watches from the sun lounger
1 year ago
The US CLO market bore the brunt of downgrades to triple C in July and August, with a total of $6.22 billion of paper affected. European CLOs enjoyed a more relaxing summer holiday, with only 1 name representing €33.88 million worth of bonds downgraded to triple C. -
LP round up: Magnetar and Värde among winners as $3 billion flows to credit
1 year ago
Institutional investors allocated at least $3 billion to credit funds in August -
Russia and Ukraine debt recovery outlooks diverge as DC publishes auction lists
1 year ago
The credit event auction to settle Russian sovereign CDS will have eight bonds deliverable, while 15 bonds have made it onto a preliminary list for Ukraine’s auction -
Ukraine triggers restructuring credit event
1 year ago
Ukraine has triggered a restructuring credit event, the Credit Derivatives Determinations Committee has ruled -
Ukraine credit event question accepted by DC
1 year ago
The Credit Derivatives Determinations Committee has accepted a request to rule on whether Ukraine has triggered a restructuring credit event, following the country’s agreement last week to defer debt payments -
Ukraine posed as credit event after country defers debt
1 year ago
Ukraine has been posed to the Credit Derivatives Determinations Committee as a restructuring credit event, following the country’s agreement last week to defer debt payments -
Russia and retail put stop to credit rally with big spread reversal
1 year ago
Russia’s move to cut gas supplies once again to Europe, as well as a Walmart profit warning in the US, are weighing heavily on markets Tuesday and sending credit spreads sharply wider -
Russia CDS auction deliverables list takes shape after sanctions licence
1 year ago
Russian Federation bonds cleared by Euroclear may be the only deliverable obligations to settle sovereign CDS contracts referencing the country, the Emea Determinations Committee has said, although it is also considering Clearstream listed bonds as it moves forward with preparations for a credit event auction -
Beneath the triple C: ebbs and flows leave triple C levels at a temporary stasis
1 year ago
Following a rising tide of downgrades in May the loan market stabilised somewhat in June, with seven issuers held by CLOs downgraded to triple C and a counter-swell of five names upgraded to single B. -
LP round up: 28 credit managers win $6.6 billion as San Diego carves private credit allocation
1 year ago
Pensions allocated over $6.6 billion to credit managers in June including Angelo Gordon, Antares, Apollo, Ares, Beach Point, BioPharma, Brookfield, CarVal, Cerberus... -
EU inflation prints frame challenge ahead as horror show first half ends
1 year ago
Financial markets are heading into the weekend with a rare stationary session, but the mood is more one of shellshock than considered positioning, after one of the worst first halves to a year on record -
Property firm's troubles mount while rest of market rallies
1 year ago
Financial markets have opened the week brightly on a mix of improved sentiment and technical repositioning. But one European high yield company is heading further into stress, against the flow -
Real estate stock manoeuvre sparks credit spread blow out
1 year ago
Adler Group's move to 'squeeze out' equity from a subsidiary business has prompted a sharp sell off in bonds and CDS attached to the company -
Manager selection stakes are heightening as CLO pain points intensify: Barclays
1 year ago
CLOs’ slump in market value and piling of distressed assets have made differentiation between managers much more acute on key metrics, regionally and by vintage, according to Barclays credit strategists
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