RBC hires head of European loan trading from NatWest
RBC Capital Markets has built out its leveraged finance and financial sponsors banking business in Europe to capture “the shift of capital from the public to the private realm and win mandates on increasingly larger, marquee transactions”

A fresh approach to loss distribution
Considering how cash balances change over time, loss distribution models can look very different to conventional thinking. So is your CLO’s pricing based on incorrect assumptions?  

Banks and loans to benefit in 2022 as safe havens dwindle
Safe havens and sector pitfalls are among some of the top considerations for portfolio managers this year, as a consensus forms that credit could suffer versus other asset classes

Credit hedge funds (January 2022)
Credit hedge fund returns

Ucits at a glance: Robus and Altana dip but stay at the top
In October, Ucits funds continued a slide that had begun the previous month with 60% of them in the red

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

CLOs prove resistant to omicron in boost for new issue market
The CLO market has withstood the impact of the omicron coronavirus variant with barely a dent on CLO liability pricing

"In 2022, being slow will not be such a bad thing"
St David losing its place as the UK’s smallest city would be a travesty. Replacing Libor might be worse

Citi's former European CLO head earns promotion to MD
A long-time European CLO specialist is among the 306 promoted to managing director at Citi, according to reports

Lev loan index rule change proposed to meet Sofr switch
Leveraged loan index stakeholders are being asked for feedback on a proposal that would allow the inclusion of loans linked to Sofr and scrap a minimum spread rule

Firm claims to cut loan settlement times with blockchain based securitisation
Cadeia, a German technology firm, claims to have undertaken the first ever fully blockchain based corporate loan securitisation transaction

Axa IM raises €1.2 billion for SRTs
Axa Investment Managers has closed Partner Capital Solutions VIII, a significant risk transfer (SRT) strategy, at roughly €1.2 billion, according to an announcement.

CLO lower cap stack will outperform with $175bn new issuance in 2022: JP Morgan
Equity and lower rated tranche investors will do best as $175 billion of global new CLO issuance arrives in 2022, predict JP Morgan strategists in their annual outlook, taking market size to $1.2 trillion

NatWest hires head of Emea leveraged credit sales
NatWest has tapped Nomura for a head of leveraged credit sales position after its head of credit sales left for Jefferies in September 

Loans will be winners in bearish year for credit: BNP Paribas
Floating rate loans are best positioned for a year of widening credit spreads, but high yield bonds will outperform investment grade and EM credit is set for losses, says BNP Paribas in its 2022 outlook

Amundi replaces European loan head and appoints deputy
Amundi has shaken up the hierarchy of its loan business with a personnel shuffle at the top

BlueBay launches Article 8 multi-asset credit fund with Lloyds of London backing
The Article 8 fund will invest in high yield, bank loans, financial capital bonds, structured credit, convertible bonds, emerging markets and developed market investment grade

BNP Paribas bolsters credit business with European strategy head hire
BNP Paribas is looking to strategy to help drive growth in its credit business and has hired a head of European credit strategy from UBS 

Elfa launches ESG exclusion checklist to streamline process for CLO managers
The European Leveraged Finance Association has launched an environmental, social and governance exclusion checklist, which it says is designed to “streamline the negative screening and exclusion” for CLO managers

Sofr transition timing puts CLO debt and equity at odds, says BNP Paribas
CLO investors look to have tough conversations ahead on the structure implications of the transition from Libor to Sofr, with BNP Paribas strategists noting CLO debt will benefit from an early move while equity tranches would do better to wait

Credit hedge funds (November 2021)
Credit hedge fund returns

Ucits at a glance: Robus and Altana enter the final sprint neck and neck
A downward turn hit Ucits funds as 65% of them made positive returns in September,

Hayfin creates head of ESG role in London
Hayfin Capital Management says it has hired a head of ESG. This is a newly-created role, but Hayfin says it has “well-established environmental, social and governance capabilities”

Axa IM launches multi-strat fund for pensions
Axa Investment Managers’ ‘alternatives’ business has launched an open-ended strategy for pension funds

There's still time to pick up pennies in credit before steamroller arrives: BNP Paribas
Declining dealer inventories, rising fund cash balances, and a greater prevalence of hedging have added up to produce a credit market that is positioned too short, according to BNP Paribas strategists