Cerberus garners $5.1 billion for debut dedicated NPL strategy
Cerberus has created its first dedicated fund for non-performing loans, having previously invested in the strategy through multi-strategy funds and separately managed accounts

UBS unveils combined leveraged debt capital markets group structure
The new business will be led by Brendan Connolly, according to an internal memo 

Singapore fund to lend to financial institutions in emerging and developing markets
Singapore’s EFA Group is aiming to raise $100 million for a fund that will lend to banks and financial institutions in emerging and developing economies

Market favours retrospective over forward-looking approach to Ibor benchmark fallbacks, says Isda
New benchmark fallbacks for derivatives contracts that reference interbank offered rates are likely to be based on the “compounded setting in arrears rate” and the “historical mean/median approach to the spread adjustment”, the International Swaps and Derivatives Association has said

Eaton Vance adds former Janus Henderson official as credit portfolio manager
Dónal Kinsella joins as institutional portfolio manager for the firm’s corporate credit strategies

BlackRock becomes latest manager to explore interval fund structure for credit
Several managers have hit the market with the interval fund structure, as investors look to invest in illiquid strategies through an illiquid fund structure

Standard Chartered plans refocused SRT return
One of the biggest issuers of significant risk transfer (SRT) deals is returning to the market

BlackRock seeks $1 billion for new multi-strat opportunities fund
The new trust will invest at least 80% of its assets in fixed income securities and up to 40% in special situations, SEC filings reveal 

Ashurst promotes five debt specialists to partner
Global law firm Ashurst has announced the promotion of 24 to partnership - including Kerion Ball, James Knight, Laura Ho, Tara Waters and Caroline Smart

HSBC asset management unit raises $800 million for global multi-manager loan fund
As a multi-manager fund,  the new vehicle aims to offer the benefits of fund-of-funds - diversification - but with a management fee comparable to a single manager 

Investcorp names new co-CEO
Alterative investment manager Investcorp has announced that Hazem Ben-Gacem will become co-chief executive officer, joining current co-CEO Rishi Kapoor

Hong Kong's Tor raises $150 million for latest credit fund
A Hong Kong-based firm’s recently launched credit fund has raised sales of $150 million, hitting the halfway mark of its anticipated fundraising, according to a market source

SSGA appoints global head of institutional group
State Street Global Advisors has appointed former APAC head Lochiel Crafter as head of its Global Institutional Group. James MacNevin will now take over Crafter's former role 

T Rowe Price poaches multi-asset professional from BlackRock
T Rowe Price has grown its multi-asset team in the Asia-Pacific (Apac), hiring Wenting Shen as a solutions strategist

Global consulting firm acquires Japanese multi-management platform
Global consulting firm Mercer, a subsidiary of Marsh & McLennan Companies, has acquired the Japanese hedge fund multi-manager BFC Asset Management

Credit markets ignore geopolitical exposures, suggests Guggenheim
Global credit spreads have spent 2017 tightening, but markets may be ignoring certain risks, according to Anne Walsh, chief investment officer for Guggenheim’s fixed income unit

Debt managers spot opportunity as Australia’s banks face inquiry
Australia’s government announced a long-anticipated royal commission into the nation’s financial services sector on 30 November – and a credit market expert says the move could be good news for debt market participants

Multi-affiliate fund management firm names senior hire in Melbourne
Australasia-focused Channel Capital, a multi-affiliate house of boutique funds management business, has named a senior hire to lead its newest Australian office

State Street appoints managing director in newly created Asia-focused role
State Street Global Advisors, the asset management arm of State Street Corporation, has announced the appointment of Betty Ng as managing director

Man Group taps former Lazard professional for marketing role in Hong Kong
Investment management firm Man Group has appointed a new managing director within its institutional sales team in Hong Kong, the company announced on 13 December

Credit Suisse alumni in Australia raise $217 million for credit fund
Australian private investment firm Tanarra, formed less than a year ago by a group of Credit Suisse alumni, has raised AUD$285 million ($217 million) for a new credit fund

Carlyle's co-founders step down as new leadership team is unveiled
The group names two Co-CEOs and a Co-CIO – but claims its three co-founders will continue to be actively engaged at Carlyle

Sell-side credit analysts land at Muzinich in London
Muzinich has raided Citi and Deutsche Bank for credit analysts with Richard Smith and Terence Teh joining the firm in London

US managers win South Korean investment
Ares, Audax and KKR are among the cluster of fund managers that have put their hearts and minds into marketing credit funds in Seoul – with great success