Co-head of Blackstone's GP stake-buying business to join Angelo Gordon
Angelo Gordon has snapped up a big name from Blackstone

Stifel hires head of leveraged finance capital markets in new role
Stifel Financial has hired to a newly created role of managing director, head of leveraged finance capital markets in New York

Fitch cuts US leveraged loan default rate projection
US leveraged loan default rate is anticipated to be just 1.5% by year-end 2022, according to a new report from Fitch Ratings. That’s down from the rating agencies’ original 2.5%-3.5% projection

Variety of US CLO-eligible loans makes ramping up a joy [CLO Symposium video]
A buoyant US CLO market is basking in a golden summer with record issuanc. Speakers at Creditflux’s CLO Symposium earlier this month pointed out a vibrant loan market means CLO issuers are spoiled for choice

Alcentra makes leadership changes as European CLO head Rainbow goes part-time
Alcentra has announced changes to its leadership team with co-chief investment officer of liquid credit Graham Rainbow deciding to take on a part-time role at the firm

CLOs face uncertainty as Libor rate deadline looms
CLO equity valuations could be increasingly under the spotlight in coming months, as sources warn of disruption while the market grapples with basis risk between Libor and Sofr in loans and CLO notes

TriMark court ruling encourages peace between lenders
Many CLO managers breathed a sigh of relief in August, with one source indicating a recent court case decision sent a “clear signal that the spate of lender-on-lender violence in the leveraged loan market will not remain unchecked”

The growing role of data in CLO management
The complexity of managing a CLO has made it as much an art as a science, but new technologies are sweeping into the market, according to speakers on a Virtus roundtable discussion.

An alternative way of looking at CLO overlap
Analysing CLO collateral to look for overlap is critical for any CLO investor, but it is normally done either within a portfolio of CLOs or by bilaterally comparing two managers. In one of its latest research pieces, Moody’s Analytics has taken a different approach

Credit hedge funds (September 2021)
Credit hedge fund returns

Ucits at a glance: Loomis Sayles makes gains in sleepy July
Ucits fund returns

Lingering covid vies with inflation as top credit threat, finds BofA
Covid-19 lingering is catching up with inflation as credit investors' number one worry, Bank of America's August survey has found. The picture for central bank purchases is bullish, but strategists see industrial and bank senior bonds as shorts for contrarians over the summer

B. Riley hires ex-Jefferies high yield head and plans fixed income expansion
B. Riley Securities has hired Tim Sullivan as head of fixed income with the firm expanding its fixed income division

"In some ways, CLOs resemble a quirky, cottage industry more than a trillion-dollar market"
CLO volumes outstanding have passed $1 trillion, but index omission and private placements are holding us back

Credit investors seek alpha as delta variant creates volatility
The leveraged loan and private debt markets have been on a tear for the first half of the year, but analysts are forecasting a more volatile six months ahead

Liquidations emerge as speed bump to $1 trillion CLO market
CLOs are now a $1 trillion global industry, but liquidations are picking up and could hamper growth — as well as providing welcome relief to an engine that’s running somewhat hot. CLOs are now a $1 trillion global industry, but liquidations are picking up and could hamper growth — as well as providing welcome relief to an engine that’s running somewhat hot.

They said it: "The mantra is doing good and doing well without sacrificing returns"
CarVal on its ESG line of CLOs

Loan investors reap windfall from meme stock craze
The so called “meme stock” craze is having a tangible positive impact on certain companies’ loan prices

Jets overcome turbulence as American Airlines repays debt
Although international travel remains suppressed by the coronavirus, US domestic air travel has rebounded, with the Transportation Security Administration data showing a return to 2019 levels of footfall at US airports. 

Credit hedge funds (August 2021)
Credit hedge fund returns

Ucits at a glance: mid market fund leaps into top four
The majority of Ucits funds end Q2 on a high note as 76% of those in our database recorded positive performance in June

Middle east firm hires high profile loan official to build on control CLO equity business
Middle east asset manager Lakemore Partner is doubling down on CLOs with the control CLO equity investor hiring one of the biggest names in the loan and CLO management business

Former DWS official claims company over-stated ESG progress: WSJ
DWS Group’s environmental, social and governance investment claims are in the spotlight after its former sustainability officer claimed the firm over-stated its ESG efforts, according to the Wall Street Journal

Key CLO official earns promotion to managing director at Z Capital
Z Capital Group has promoted two members of its investment team in New York, including a central figure on its CLO management platform