Pimco eyes CLOs as part of new flexible credit interval fund
Pimco is preparing to launch a new closed-ended, non-listed interval fund, named Pimco Flexible Corporate Income Fund, which will invest at least 80% of assets in corporate debt across public and private credit markets

Fund performance: European CLO funds lead the way
February was a positive month for many funds, as only one quarter failed to reach the black. This builds off a stellar start to the year: 96% of funds reached a positive return in January

Credit hedge fund returns (April 2023)
Credit hedge fund returns

Credit funds at a glance (April 2023)
A round up of people moves and fundraising

Credit Suisse/UBS deal to create $5 trillion asset manager
The emphasis is set be on wealth and asset management, according to a statement released by UBS in conjunction with its move to acquire Credit Suisse

Pimco promotes global lev fin and CLO head to managing director
Pimco's leveraged finance head is one of five senior officials promoted to managing director

Barclays won't let sleeping dogs lie after another Newfoundland CLO reset
Newfoundland CLO, the long running and world's largest balance-sheet CLO, has been given a new leash of life by upsizing in a reset yesterday, according to announcements from Moody’s and Scope Ratings.

Carlyle appoint former Goldman executive as CEO
Carlyle Group have appointed former Goldman Sachs Co-President and CO-Chief Operating Officer Harvey Schwartz as Chief Executive Officer and a member of the board, the firm has announced.

Credit Rendezvous: Make yourself comfortable, there’s a storm coming
In our Q1 outlook, we speak to Edwin Wilches, PGIM (US CLOs), Mikkel Sckerl and Flemming Dose, Capital Four (European CLOs),  Jim Fitzpatrick, CQS (US loans), Loic Prevot, Polus (European loans), Madelaine Jones, Oaktree (global high yield), Art Penn, Pennant Park (US direct lending), Mattis Poetter, Arcmont (European direct lending), Keerthi Raghavan, Waterfall (structured credit), Ray Costa, Benefit Street (distressed), Grant Webster, Ninety One (Emerging markets), Oumar Diallo, Aeon (real assets) for their views for the upcoming quarter. 

Fund performance: Credit funds end difficult 2022 on a positive note
In December 66% of credit funds reached a positive return, following an even better November where 81% of all funds pushed into the black

Credit hedge fund returns (February 2023)
Credit hedge fund returns

Credit funds at a glance (February 2023)
A round up of people moves and fundraising

"All that remains is to thank all of you who have kept faith with my monthly confessions of insanity"
With the economic outlook now beyond a joke, Welshcake signs off amid denials he is actually a Welsh footballer  

BC Credit targets $1.25 billion for third opportunistic credit fund
BC Partners Credit plans to deploy half the fund in private lending and structured equity opportunities and the other half in specialty lending and dislocated liquid credit deals

Beneath the triple C: Life could be better, but it’s just a letter, under the CCC
Many market participants were eagerly looking forward to a break in December after a gruelling year, but the rating agencies were in no mood to oblige. 

Senior Investcorp official lands at wealth manager
A well-known name in the CLO industry has landed at a wealth management firm 

Fund performance: Light at the end of the tunnel for credit funds after difficult year
Following a tough September, credit funds bounced back in October as 59% of funds made positive returns.

Credit hedge fund returns (December 2023)
Credit hedge fund returns

Credit funds at a glance (December 2023)
A round up of fundraising and people moves in credit

"This ‘higher rates for longer’ saga is more like the 1920-21 depression than the 1970s high inflation era"
Sometimes you have to swallow your medicine and take a step back to go forwards

LP round up: 27 managers find the top corner with investor wins
Credit fund managers like to take it one fund at a time and give it 110% for their 90-minute investor fund pitches - and it's working as $3.8 billion was allocated during November and early December. The gaffer would be proud. 

Manager looks to cut HY exposures in CLO-heavy credit interval fund
A credit fund manager has provided a performance update on is multi-strategy closed-end credit fund through regulatory filings, revealing it has beat its benchmark from 1 April to 30 September despite losing 13.66%

Sculptor and Och reconcile as sale process kicks off
Sculptor Capital Management is looking for a buyer after forming a special committee and building bridges with its founder Daniel Och

Beneath the triple C: Stormy October hits CLOs with rising tide of downgrades
After a slight respite in the pace of downgrades over the summer for CLOs, October brought renewed momentum as macro-economic pressures - primarily high interest rate burdens for corporate borrowers and supply side inflation - became the recurring rationale

Cairn begins "new chapter" as it rebrands to Polus
Cairn Capital has been renamed Polus Capital Management, which brings it together with Bybrook Capital, the credit asset manager it acquired in 2021.