Aegon prices first European CLO
Monday saw a significant moment in the European primary market – the return of the North Westerly CLO platform to new deal issuance after three years, now under the auspices of Aegon Asset Management

Bain Capital hires North American head of special situations from Brookfield
Boston-headquartered Bain Capital has hired a partner and head of special situations in North America, as well as head of corporate special situations in Europe

Avenue Capital raises billion dollar European special situations fund
New York-headquartered Avenue Capital Group held the final close of a new European special situations fund with more than USD 1bn in commitments

DWS grows CLO team in Europe with senior hire
DWS continues to build out its nascent CLO team with the recruitment of a well known CLO portfolio manager

British bank and Irish asset manager team up
British Business Investments and DunPort Capital Management are the latest bank and asset management duo working together

Funds round up: April 2024
Allocations to private credit and new fund launches continued to roll out in April, as our monthly round-up confirms

US pension fund makes fresh USD 250m allocation to private credit
A US pension system has recently disclosed hundreds of millions of commitments to alternative funds, including USD 250m for private credit

AXA wins USD 400m for SRT strategy from US pension fund
The growing global demand for SRT transactions was confirmed yesterday with an announcement from AXA IM Alts that it had been awarded a USD 400m investment mandate from a US pension fund

Cheyne returns to SRT market with eye-catching hire
Cheyne Capital has re-entered the significant/synthetic risk transfer (SRT) market, bringing on an industry veteran to act as portfolio manager

CIC aims to join list of new European CLO managers
After last year’s eye-catching European debuts from seven new managers, attention has turned to this year’s impending crop of debutants.

Triple A delayed-draw structure helps European CLOs beat negative carry
The first quarter of this year saw a trio of unusual deals in the European market: new issues that include delayed-draw options on triple A coupons. It is the first time this facility has been seen on CLO triple A notes.

Private credit firms chase opportunities in asset based lending as US banks withdraw
Lending against assets is becoming the fastest growing part of private credit. The market is expected to grow from roughly USD 787bn in 2024 to more than USD 1.26trn in 2028, according to a report by Research and Markets, a data and statistics firm.

EU managers seeking retail investors roll out first ELTIF 2.0 credit funds
EU managers seeking retail investors roll out first ELTIF 2.0 credit funds

2022 vintage deals score again as COLF is called with 49% gross IRR
2022 vintage deals score again as COLF is called with 49% gross IRR

Private credit is the regulatory fix that became an asset class
Institutional investors have pushed private credit to greater scale than either loans or bonds

Neuberger Berman keeps it tight for new European CLO
The European market saw another deal print at this year’s record tight of 147bps yesterday, when Neuberger Berman priced its first Euro deal of 2024

Sculptor launches CLO captive equity platform
Sculptor Capital Management launched its new CLO captive equity platform today, anchored by a commitment from Rithm Capital

ELFA names Rinaldi as co-Chair of CLO investor committee
The European Leveraged Finance Association (ELFA) has named Elena Rinaldi as the new co-chair of its CLO Investor Committee

Allianz gears up to launch European credit impact investing fund
Allianz Global Investors filed regulatory documents in Luxembourg this week for a new impact investing fund, the latest in a string of similar strategies

IACPM survey finds credit PMs still gloomy, but less so than last quarter
Respondents to the latest IACPM Credit Outlook Survey are still negative about future credit conditions, but less so than in previous surveys

Deutsche Bank upgrades European new issue forecast
Deutsche Bank has upgraded its European new CLO issuance forecast for 2024 to a total of EUR 37bn

BlackRock reshuffles European fixed income group leadership
BlackRock is rearranging its European fundamental fixed income group with a new senior-level promotion, as veteran Michael Krautzberger plans his departure

LGIM launches alternative investment fund
European asset manager Legal & General has launched a new private credit fund which will sit on a newly-created Reserved Alternative Investment Fund, or RAIF platform

Hayfin adds managing director in private credit from BlackRock
London-based Michaela Campbell and will be responsible for leading the private credit team’s portfolio monitoring and risk profile

Funds round up: private credit reaches for retail
A number of new credit funds launched last month to round out 2024's first quarter, including ones in Europe aimed at retail investors