Mandatum launches open-ended European leveraged loan fund
Sampo Group and Kaleva Mutual Insurance Company have provided seed capital to the Article 9-aligned vehicle and will additionally co-invest alongside the sub-fund in underlying loans and bonds

ArrowMark fills vacancy in London with SRT hire from sell side
ArrowMark Partners has filled a void in its London office after hiring an SRT specialist from Citi 

LP round up: Magnetar and Värde among winners as $3 billion flows to credit
Institutional investors allocated at least $3 billion to credit funds in August

CIFC boosts legal team with two senior appointments
CIFC Asset Management has announced two senior appointments on its legal and compliance team

Carlyle names co-founder as interim CEO as Lee steps down
Carlyle Group’s chief executive officer Kewsong Lee has stepped down from this role and the board of directors, effective immediately

UBS says modelling suggests upcoming recession won’t bite
Likely global recession scenarios look mild according to strategists at UBS, who have run four models.

Credit funds at a glance (August 2022)
A round up of fundraising and people moves in credit
   

Ucits at a glance: Ucits see red in a tough June for returns
June marked an exceptionally tough month for Ucits funds, as none of those listed in the Creditflux database made it into the black

Credit hedge funds (August 2022)
Credit hedge fund returns  

Fund performance: Select funds shine in dreary June for credit hedge funds
Credit funds suffered through June, as only 8% of listed funds reached the black. This made June the fourth month in a row in which negative returns increased

CFOs stage comeback as fundraising tool for managers
Collateralised fund obligations are coming back into fashion, with Churchill Asset Management the latest firm to launch such an offering after announcing a $700 million deal last month.

BofA brings in European corporate credit research head
An experienced credit strategist has landed at Bank of America after leaving Credit Suisse  

Alecta "closes the circle" as it invests with PGGM in Nordea SRT
Joint venture partners Alecta and PGGM Investments have printed a €2.5 billion significiant risk transfer with Nordea in what marks the first Simple, Transparent and Standardised-compliant SRT to reference pan-Nordic assets

Credit Rendezvous: Investors try to avoid suplex city as recession and inflation reform tag-team
Credit investors getting ready to lock up against that familiar 1970s pairing of inflation and recession. But the hard-hitting tag team has picked up some new moves, causing floating rate outperformance to give way to underperformance; synthetic credit to outperform cash; and CLO terms curves to reshape into barely recognisable positions

Citi promotes structured credit specialist to top Emea credit trading role
Another senior official in Citi's credit team has been promoted

Euro loans with FX hedging offer better value than US: Barclays
The big underperformance of European loans in June has left them looking cheap versus those in the US – but FX hedging and a nuanced selection process are advisable for investors looking to take advantage of that

SocGen promotes credit head in New York
Societe Generale has appointed a 20-year veteran of the bank to head of fixed income for the Americas

HSBC AM's responsible investing head resigns with view to creating "new asset class"
HSBC Asset Management’s global head of responsible investing has resigned after been suspended by the firm. This followed him delivering a conference speech in May in which he downplayed the impact of climate change on financial markets

Fund performance: Rocky May piles on the misery for credit hedge funds
Negative fund performance soared in May

Credit hedge funds (July 2022)
Credit hedge fund returns

Ucits at a glance: LBBW shines as Ucits take a turn for the worse
Ucits fund returns

Credit funds at a glance (June 2022)
A round up of fundraising and people moves in credit  

Seeds sewn for carbon credit market to flower into CLOs
Long-time structured credit specialist Jan Phillip Wassenaar has joined start-up NatureCredits as a senior advisor to support the evolving carbon credit industry

CLOs aim to pick up pieces as fear drives dip in loans
Leveraged loan investors grew skittish in June, with prices slipping as the likelihood of a US recession increased, according to market sources.

Citi Emea credit trading head earns promotion
Citi has promoted a senior figure in its credit business to regional head of markets for Emea