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

American Beacon teams up with Apollo for credit interval fund
Regulatory filings reveal that Apollo will allocate assets across four main areas: US corporate credit, global corporate credit, structured credit and real estate credit

Wells Fargo AM chief Norris to retire
Wells Fargo Asset Management's Anthony Norris - managing director, chief investment officer and senior portfolio manager - is set to retire from the fund management industry in October

BNP Paribas reorganises US credit business and appoints leveraged finance head
BNP Paribas has integrated its existing US primary and secondary credit units under a single new entity known as global credit markets Americas

Crestline Denali announces new structure following CEO departure
Crestline Denali has announced its new organisational structure, following the retirement of its chief executive officer David Killion

European loan portfolio manager parts ways with CQS
A European leveraged loan portfolio manager at London-based CQS  has left the firm, Creditflux has learned

Investors fight to stop assets being pulled into black holes
US loan investors are fighting back against terms which they believe are effectively turning supposedly senior secured loans into unsecured agreements

Neuberger's Dyal acquires minority stake in HPS
Dyal Partners, a division of Neuberger Berman, has acquired a minority equity stake in global credit manager HPS Investment Partners

Sound Point and American Beacon team up for credit interval fund
American Beacon Sound Point Enhanced Income Fund will invest in a variety of credit-related instruments - with at least 40% bank loans exposure

Tikehau poaches Commerzbank leveraged loan trader
Tikehau Capital has appointed a secondary loan trader in its London-based CLO and leveraged loan fund team

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 

Former ICG CLO portfolio manager takes on CIO role at MeDirect
The former co-head of European leveraged loans at Intermediate Capital Group, Michael Curtis, has resurfaced at MeDirect (formerly known as Mediterranean Bank)

Leveraged finance veteran leaves Mizuho in London after 22 years
The head of international acquisition finance at Mizuho, Paul Carman, has left the bank to bring to an end a 22-year affiliation with Mizuho

Flat Rock prepares $100 million CLO equity-focused fund after big hire
Flat Rock will launch the new interval fund to primarily invest in CLO equity, with newly hired anchor CLO investor Shiloh Bates acting as one of the portfolio managers

Spire moves into CLO investing with new credit fund
European corporate credit specialist Spire Partners has raised roughly €100 million for a multi-strategy fund that will have the ability to invest in CLOs

Credit interval funds thrive as investors value liquidity profile
“The interval fund structure’s time has come," says BlueBay's Blair Reid

Highland merges funds to create new loan/CLO strategy
Highland Capital Management has merged certain funds to create a new strategy that will invest across corporate loans and CLOs, according to market sources

Barrow Hanley moves into US loans after hiring PMs from Whitebox
“Now is the ideal time to add the bank loan strategy to Barrow Hanley’s menu of offerings" says Nick Losey ahead of his move to the firm

CIFC gets in on interval fund phenomenon with new CLO-focused strategy
The new vehicle will invest at least 80% of its net assets in debt securities, with a focus on CLO equity, mezzanine tranches and warehouses, US SEC filings reveal

Destra and BlueBay team up to launch credit interval fund
Destra has become the latest manager to launch an interval fund - Destra International & Event-Driven Credit Fund - which will focus on two strategies: multi-strategy international credit  and event driven credit. 

Carlyle and Oppenheimer opt for interval fund structure as part of JV
The new private credit fund will invest at least 80% across loans and structured credit (Including CLOs), opportunistic credit, direct lending and liquid credit, SEC filings reveal

GoldenTree, KKR and StepStone earn sub-advisor roles for new interval fund
FS Investments is launching a multi-strategy interval fund and has chosen GoldenTree Asset Management, KKR Credit and StepStone Group to act as sub-advisors

Libor has a new contender as New York Fed launches SOFR
The New York Federal Reserve has launched a benchmark US that may eventually replace Libor: the Secured Overnight Financing Rate (SOFR)

Texas pension fund approves two new CLO manager mandates
The Texas Municipal Retirement System has approved the appointment of GSO Capital Partners LP and Octagon Credit Investors as CLO managers on its non-core fixed income strategy

Three credit specialists part ways with Highland
Three officials have left Highland Capital Management in the last few weeks; a CLO trader and two experienced corporate credit researchers