OFS and CIM team up for fund geared towards loans, CLOs and real assets
Credit-related investments in the new interval fund will include floating and fixed rate loans, broadly syndicated senior secured corporate loans, CLO debt and equity tranches and opportunistic credit 

Apollo earmarks $20 billion for dislocation fundraising over 12 months
Apollo's returns for corporate credit, structured credit and direct origination in the first quarter were down 8.3%, 14.7% and 4.8%, respectively, but the firm is looking to launch various credit strategies, including capital solutions, dislocation strategies and distressed strategies, that it “expects to accumulate $20 billion over the next year”

TPG spins off credit arm Sixth Street
TPG has officially split from its credit arm TPG Sixth Street Partners, following talks with respective investors earlier this year

222 CLOs hold bankrupt telecom firm as its signal fades
CLOs hold $334.5 million debt of Australian telecommunications company SpeedCast International, which filed for Chapter 11 bankruptcy protection in the District of Texas on Friday

Angelo Gordon hires well-known credit strategist in New York
Angelo Gordon has hired an experienced credit strategist as a manging director in its investor relations team in New York

Credit Rendezvous: recovery begins, but is it U, V or even W?
Investing in credit is not as easy as ABC. The coronavirus crisis has crushed valuations and although most assets will eventually pull to par, no one is sure how the recovery will pan out

Longview Power turns to coal for handful of CLOs
CLOs hold $43.9 million of the debt of US power company LongView Power, which filed for Chapter 11 in the District of Delaware yesterday

Frontier bankruptcy dials up pressure for 90 CLOs
Nine CLO managers hold $217 million of Frontier Communications’ debt across 90 CLOs, as the telecommunications company filed for Chapter 11 protection in the US Bankruptcy Court Southern District of New York

Three CLO investors win mandates from US insurer
New York State Insurance Fund has selected 11 credit managers to invest around $1 billion across corporate loans, high yield bonds and CLO tranches, according to documentation seen by Creditflux. Three  of these mandates are geared towards CLOs 

US loan index rises for second consecutive day
The credit markets felt some reprieve on Thursday as the S&P/LSTA index rose for the second consecutive day, rising by an unprecedented 3.33%

Alcentra prepares listed credit fund
BNY Mellon Investment Advisor has teamed up with affiliate Alcentra to launch a listed fund that can invest across a range of credit strategies

PRI unveils ESG workstream for CLOs, loans and ABS
Principles for Responsible Investment has established a workstream on environmental social and governance standards in structured products

CLO and repo markets lick wounds after Fed burns its cred
In the wake of yesterday's emergency Fed rate cut, CLO investors say the spread between Libor and the overnight indexed swap indicates Libor has further to fall

Massachusetts pension commits $200 million to structured and corporate credit
Massachusetts Pension Reserves Investment Trust has approved commitments with CKC Credit Opportunity and LMCG Serenitas  

Pretium buys Latigo to boost distressed capabilities
Pretium Partners has bought the investment management business of New York-based Latigo Partners, in a bid to expand the firm’s distressed debt and event-driven credit capabilities. Terms of the transaction were not disclosed

Lord Abbett preps floating rate interval fund with monthly share repurchase
Lord Abbett Enhanced Floating Rate Fund will invest at least 80% of its assets in floating rate products including senior secured or unsecured loans, second lien debt and floating rate structured credit including CLOs

VIP Cinema makes uncomfortable viewing for CLOs as it's reeled into Chapter 11
CLOs hold $52.9 million of debt in seatmaker VIP Cinema Holdings, which has filed for Chapter 11 bankruptcy protection in the District of Delaware

Credit Rendezvous: the outlook in 2020 across a dozen segments of the credit market
Welcome to the Credit Rendezvous, the first instalment of a regular feature published by Creditflux that tracks credit market dynamics in a dozen segments from investment grade, liquid loans, CLOs and CSOs all the way through to distressed debt. We view this as the meeting point for credit specialists across strategies to share their perspectives

Job opportunities with BNY Mellon: corporate trust group
BNY Mellon has released details of six vacancies

US loan trading: McDermott downgrade leads to CLO outflows as managers board rail road firm
US freight railroads operator Genesee & Wyoming allocated its $2.55 billion term loan in November, making it the most popular issuer in the month. And CLO managers were sceptical of the outlook for McDermott Technology - signalled by $185.9 net outflows - after Moody's downgraded its corporate family rating from B3 to Caa2 

CBAM plans expansion with new $60 million credit facility
CBAM has closed a $60 million credit facility to refinance a working capital facility to its parent company Eldridge Industries

Goldman Sachs AM explores interval structure for credit fund
Goldman Sachs Asset Management has begun marketing for an interval fund primarily focused on credit investments

First Eagle buys US CLO manager THL Credit
Two years after establishing its credit business with the acquisition of NewStar Financial, First Eagle Investment Management is aiming big again after striking a deal to buy THL Credit Advisors