Credit hedge funds (October 2020)
Monthly credit hedge fund tables

Ucits at a glance: Advent and Algebris edge towards double digit returns
Two managers stand out in the Ucits rankings as they close in on 10% YTD figures

Credit funds at a glance (October 2020)
A round-up of fundraising and people moves

Fund performance: A third of funds reach positive territory in 2020
August has been another successful month for the CLO category as seven of the top 10 funds invest primarily in CLOs

Credit fundraising: managers build homes for real estate credit funds
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

Voya loan co-head Norman set to retire
Dan Norman is set to leave Voya Investment Management, where he co-heads the senior loan team, at the end of the year

CLO and loan trading head moves to development finance job
Mediobanca's loan and CLO trading head has moved to CDC Group, a development finance business owned by the UK government

CIC launches European loan fund
Credit Industriel et Commercial is looking to raise €300 million for a European senior debt fund

CLOs hold €250 million of defaulted French events organiser Comexposium
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
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
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux

Barings and PGIM win loan and structured credit mandates as pension puts £2.7bn in credit
The firms will manage global syndicated loans, securitised credit, emerging market debt and global high yield credit for Border to Coast Pension Partnership's £2.7 billion ($3.43 billion) multi-asset credit fund 

BTIG appoints two loan managing directors to London team
 BTIG has added an Emea loans trading head as well as a sourcing and sales specialist to its team in London 

Garrett Motion stalls with CLOs holding $608 million of bankrupt firm's debt
Garrett Motion enters chapter 11 proceedings with a stalking horse offer from private equity firm KPS Capital Partners, which has agreed to buy substantially all of the firm’s assets for around $2.1 billion. CLOs hold around $680 million of Garrett's term loans

Sculptor promotes two after European credit head leaves for Pimco
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

Post hires head of sales and marketing in Los Angeles
Post Advisory Group has hired Eileen Mancera as managing director and head of sales and marketing

PGIM hires for newly created ESG fixed income research role
PGIM has appointed a former Allianz official into the newly created role of head of environmental, social & governance (ESG) research for its fixed income division

Blackstone reveals CLO originator NAV was understated for four months
Blackstone says the net asset value of class A units in its privately-offered CLO originator were understated between 31 March and 30 June

iQor files for chapter 11 with CLOs holding $260 millon
17 CLO managers hold $263.1 million term loans of customer services provider iQor, which filed for chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas today

Head of loan and CLO trading leaves Mediobanca
Mediobanca’s head of loan and CLO trading has parted ways with the bank

Nassau confirms launch of European loan and CLO platform
Nassau Corporate Credit has launched a European loan and CLO platform with the $3.1 billion asset manager establishing a London office

Hayfin hires former Barings official to new head of fund finance role
 The new job reflects the growing number of financings Hayfin handles, sources say

They should have followed Revlon's Double Twist mascara slogan of 2009: "It's worth a double take"
Blockchain might not eradicate all problems in credit, but it should reduce human error

Ticked off: European loan docs turn aggressive
Documentation for European loans tightened in the immediate aftermath of the March sell-off, with lender-friendly terms around additional debt baskets, dividend levels and acquisition thresholds. But aggressive terms are creeping back into the market

Alcentra appoints DeSimone as CEO
Alcentra has appointed Johnathan DeSimone as chief executive officer following David Forbes-Nixon’s decision to step down and take an investment role at the firm