Obra completes acquisition of KDP assets following bankruptcy filing
Obra Capital has acquired the assets of KDP Investment Advisors following the latter firm's chapter 11 bankruptcy filing in May of this year

Loan market breathes sigh of relief as SEC declines to comment on Kirschner case
The SEC decided not to intervene in an ongoing court case about whether US leveraged loans are securities last week in an important win for the loan market.

US sponsor-led loans show sharp deterioration in covenant quality
Credit underwriting standards in the US continued to fall in the second quarter of 2023, according to a new special report from Xtract Research.

Arini continues expansion with Credit Suisse hire

Credit hedge fund Arini taps former senior-level Credit Suisse executive. 

Diebold's DIP delivers partial payout
Another day, another divergent DIP outcome as Diebold Nixdorf has its reorganization plan approved in court.

Australian fund manager adds new credit PM
Australian fund manager IAM has branched into opportunistic credit with the acquisition of the River Capital Liquid Credit Fund and credit mandate, which includes a move for the fund’s portfolio manager.

Veteran lawyer moves from buyside to law firm

A seasoned private funds lawyer will join Gowling WLG's investment funds team in London.  

June 2023 US Leveraged Highlights
Debtwire has released the June 2023 US Leveraged Highlights, featuring key trends in the leveraged loan and high yield bond markets.

Antares closes second senior loan fund with $6 billion
Private credit manager closes second round of senior loan fund with roughly $6 billions in commitments. 

Refinancing and extensions dominate European debt issuance and hit highest share in a decade
With the highest interest rates in the Eurozone since the Global Financial Crisis, the European leveraged finance market has been dominated by companies that need to refinance or extend their deals.

ABL lending fund completes final close with $1.7 billion in commitments
Asset-based lending fund accepts $1.7 billion in capital commitments from a global set of institutional and retail investors. 

Wall Street veterans spin off credit fund to start their own firm
Two credit industry veterans spin off fund to start their own firm in New York. 

June loan rally signals asset class could see outsized returns as rates stay high
Leveraged loans enjoyed their second-best month of the year in June, with the asset class returning over 2% on the month as Creditflux goes to press. Loans have generated a return of 5.8% year-to-date, with only January’s 2.9% topping the numbers for June.

Bond-backed buyouts balloon as loan yields hit astronomical levels
Issuers tapping public syndication for leveraged buyouts have turned to the high-yield bond market in recent months, where levels of activity are impressive considering the current shortage of new money issuance.

Loan Highlights 2Q23: Running aground
The global loan market endured a bleak first half of the year, with the overall 1H23 volume falling 28% year-on-year (YoY) to $1.9 trillion, the lowest showing since 2012.

Capital Four adds three to US team
Capital Four's US team continues to expand, with the credit asset management firm hiring three new people in its New York office

Hedge fund Sona taps Barclays exec
Private credit manager Victory Park Capital has launched Triumph Capital Markets, a new platform that focuses on structured financing and capital markets

ICG hires new global head of credit
Asset management firm ICG has hired ScION Tech Growth Chief Executive Officer Mathew Cestar as the firm's global head of credit

May 2023 European Leveraged Highlights
High yield bond refinancing dominates a weak market according to Debtwire's May 2023 European Leveraged Highlights, featuring key trends in the leveraged loan and high yield bond markets. 

May 2023 US Leveraged Highlights
Leveraged investors continue to favor bonds to loans, according to the Debtwire May 2023 US Leveraged Highlights, featuring key trends in the leveraged loan and high yield bond markets.

Carlyle names future CFO
Carlyle has named John Redett its new chief financial officer and head of corporate strategy, the company has said.

Credit funds at a glance
Fund raising and people moves

Credit hedge funds
Credit hedge fund returns

US loan default rates will peak near record levels, says Deutsche Bank
A new research paper from Deutsche Bank has forecast leveraged loan default rates rising to near all-time highs by the fourth quarter of 2024.

Infrastructure investor brings in senior team to launch new sustainable credit platform
Energy Capital Partners (ECP) has announced that a new team will merge into ECP’s dedicated credit investing business and launch a sustainable credit platform named ECP ForeStar