RiverRock secures €153 million in commitments for new senior loan fund

RiverRock sets €1 billion commitment target for latest fund, nearly double the size of its previous vintage

In Kirschner fallout, lenders may be asked to rep that they aren’t investors

Our Xtract Research team explores an unexpected outcome from the recent Kirschner ruling  

Fed members need to restore their credibility, which could translate into excessive tightening
Rising wages have boosted spending and GDP — but the party can’t last forever

Credit funds at a glance (September 2023)
A round-up of people moves and fund raising  

Credit hedge fund returns (September 2023)
Credit hedge fund returns  

CLO funds are hot in summer as they take nine spots in top 10 (Fund performance)
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.

DebtDynamics North America: de-risking remains key focus for loan issuers and investors alike
Syndicated leveraged loan and high-yield (HY) bond markets have endured a challenging time during the past eight months but sentiment is far from rock-bottom

JP Morgan wins Kirschner case as court rules loans are not securities
The Second Circuit Court of Appeals has ruled in favour of JP Morgan in the Kirschner case that term loan Bs are not securities

LSTA hires new director of policy research
The Loan Syndications and Trading Association has appointed a new director of policy research

Santander taps Credit Suisse dealmaker

Santander Corporate and Investment Banking hires new managing director from Credit Suisse

Arini's hiring spree continues as it builds out CLO platform
Arini continues to beef up its loan team with the hire of a senior member of the credit team at Rothschild

US leveraged loan issuance drops 35% year on year
Debtwire 's new July 2023 US Leveraged Highlights report sees a striking 70% year-on-year decrease in new money institutional activity as lack of supply from the M&A market weighs on issuance

CLO double Bs offer 700bp premium versus high yield bonds, says Oaktree
The yield premium offered by double B CLO paper compared to corporate high yield bonds with the same rating has exploded to 700 basis points, according to a new episode of Oaktree Capital Management's podcast series The Insight

Snooze - you’re extended! Can lenders in European SFAs sleep-walk into extended tranches? - Xtract Special Report
This Xtract Research special report asks whether lenders under European SFAs could find themselves re-designated into a later-maturing facility or tranche than originally documented without their explicit consent

Refinancing continues to dominate headline figures in latest European leveraged highlights
Debtwire has released its July 2023 European Leveraged Highlights, containing key trends in the leveraged loan and high-yield bond markets

Neuberger Berman secures £2 billion mandate for credit fund
One of the UK's largest pension funds has awarded Neuberger Berman a £2 billion mandate for credit

Australia's largest super fund beefs up international team
Australia's largest pension fund is is growing its team across other geographies in an effort to increase its international presence

Envision Healthcare draws lawsuit from fourth out lenders
A group of “fourth out” lenders to Envision Healthcare have lodged an adversary complaint over its 2022 drop-down recapitalization and subsequent ‘uptier’ exchange

New York Life Investments taps member of Jefferies credit team

New York Life Investments has hired a member of the Jefferies Credit Partners loans team as director of high yield and leveraged loans

Hayfin Capital Management beefs up high-yield and syndicated loans team

Hayfin Capital Management has hired a new head of high yield and syndicated loans trading from Capital Asset Solutions

Last frontier: Common currency conquers non-Eurozone countries to dominate lev loan market
Our latest DebtDynamics EMEA research shows that the share of the European leveraged loan syndication market denominated in the EU common currency jumped from 80% in 2015 to levels closer to 95% since 2019  

Funds round-up: its still all about private credit
Our summary of all the news about credit funds in the last seven days as private credit again dominated fundraising 

DebtDynamics North America: Likely-to-distress scores highlight struggling industries
Out of a universe of more than 12,000 leveraged US companies, 180 are in the stressed/distressed lifecycle categories

Primary loan and bond markets shows signs of revival, but at a cost
Activity in the US junk debt market has picked up after the 4th of July and the momentum is expected to continue through 2H23, but at a cost for issuers.

Obra completes acquisition of KDP assets following bankruptcy filing
Obra Capital has acquired the assets of KDP Investment Advisors following the latter firm's chapter 11 bankruptcy filing in May of this year