Western adds 5% CLO bucket to listed US loan fund
Western Asset Management has added CLO debt and equity tranches to the investment mandate on a loan fund that is listed on the New York Stock Exchange

Managers dispel myth that lenders can’t influence ESG
There’s a growing belief among credit fund managers that they can influence borrowers to take on ESG-friendly practices, contrary to the widely-accepted notion that the business practices of companies are dictated by their private equity owners.

CLO supply set for double-digit drop in 2020, says JP Morgan
US CLO supply in 2020 will be as much as 20% down on 2019, while European issuance will fall 13% year-on-year, predict JP Morgan strategists in a research note. Even so, new CLOs should still outpace existing deal paydowns, as well as high yield primary market net new issuance

CVC adds Alcentra official to investor relations team in London
CVC Credit Partners has appointed a managing director in its investor relations team from Alcentra 

Repo market bumps heads with credit to suffer SOFR doubts
The reliability of the Secured Overnight Financing Rate (SOFR) was called into question last month when it spiked to a level more than double its usual value. 

CarVal’s independence backed by five-year Cargill loan
CarVal Investors’ management buy-out from parent company Cargill will be financed with a five-year term loan from Cargill alongside equity contributions by management, documents seen by Creditflux reveal.

Ucits at a glance
A round-up of ucits fund performance

KKR adds CLO mezz and private credit to mix with opportunistic credit fund
The new interval fund will invest in opportunistic credit, including CLO mezzanine debt, as well as private debt 

MacKay Shields integrates CVP's loan team while spinning out distressed debt
MacKay Shields has spun out the distressed debt business of Credit Value Partners and focus resources on CVP’s leveraged loan platform

US credit managers make ESG breakthrough after taking a first step via UNPRI
Incorporating a framework for investing in companies based on environmental, social and governance (ESG) factors is a challenge that US credit managers are accepting in growing numbers

THL updates credit investment framework to include ESG
THL Credit Advisors has announced that it has developed an investment framework for assessing environmental, social, and governance (ESG) factors in analysing credit quality and risk factors

EQT looks to raise €500 million via IPO
The initial public offering is anticipated to increase EQT's flexbility to “pursue growth opportunities” and expand its private market investing business

Apollo fee earnings rise 9% in Q2 as structured credit boosts portfolio
Apollo Global Management’s credit portfolio increased 4% quarter-over-quarter to $201 billion, driven by growth in affiliated life insurance firm Athene, as well as corporate credit and structured credit

US loan veteran MacLean to retire from Pimco
Pimco loan portfolio manager Beth MacLean will be retiring from the firm in March, a spokesperson for the company firms

Credit plays a big part as KKR increases AUM by $6.5 billion
KKR grew its assets under management by 8% over the second quarter, according to the firm’s earnings call, which took place on Thursday.

Investor requirements rather than performance is driving ESG push: Creditflux survey
Only 14% of respondents to Creditflux's global credit ESG survey said performance was the main reason they were adopting envoronmental, social and governance-themed strategies

Clover Tech cov-lite loan blots CLOs after spilling a third of its value
The past week’s biggest declining loan by some way, for printing cartridge maker Clover Technologies (aka 4L Technology), is a worry for CLO portfolios as some 21 managers hold the name, according to CLO-i

Calpers misses returns target despite fixed income outperformance
California Public Employees' Retirement System (Calpers) has missed its annual investment target despite strong performance from its fixed income portfolio, which was its top performer  

Sun Life merges asset management business to create $159 billion division
Sun Life will merge its fixed income businesses - including Prime Advisors, Ryan Labs and Sun Life Institutional Investors - under a new umbrella named SLC Management 

Ares hires Natixis deputy CEO for the Americas to credit investing role
Ares Management has poached the Americas deputy chief executive officer from Natixis's investment banking business

New investments drive Canada Pension Plan’s credit returns to 8.7%
Canada Pension Plan Investment Board (CPPIB)’s credit portfolio has delivered good returns during the 2019 fiscal year, despite the market volatility, according to the institution’s annual financial report  

The Last Tranche: awards season is upon us [podcast]
A look at 2018 award offerings and finalist, plus some insight on direct lending and b-wics

Leveraged loans pose credit risk but not systemic risk, conference told
Regulators and the press need to understand the difference between credit risk and systemic risk, claimed panelists at the IMN European CLOs and Leveraged Loans conference

Industry veteran joins B Riley's new credit unit to manage CDOs
B. Riley Capital Management has established a new credit platform 

Brookfield strikes deal to buy 62% stake in Oaktree
Brookfield Asset Management has agreed to buy a 62% stake in Oaktree Capital Management in a move which will lead to the creation of one of the largest asset managers in the business.