Fund performance
Good month for CLO funds sees six in top 10 as Axiom sets pace

Credit hedge funds
Credit hedge funds performance data

Credit funds at a glance
Fund performance, fund raising and LP commitments

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

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

Slow pace of loan prepayments increasing CLO tranche WAL, finds Barclays
Prepayment rates in the leveraged loan market have dropped to post-financial crisis lows, thereby increasing CLO debt tranches' weighted average life and slowing the pace of amortization for deals that have left reinvestment, according to new research published by Barclays

Jump in loan prices sees CLO primary stall in the US
US CLO primary supply almost ground to a halt in June with just three transactions printing in the first half of the month

Credit funds at a glance
Fund raising and people moves

Credit hedge funds
Credit hedge fund returns

Fund performance
A roundup of fund performance

Student loans emerge as headwind for loan market, says BofA
American graduates are poised to resume student loan repayments in August, and new research from Bank of America suggests the change could be a headwind for the loan market due to weaker consumer demand.

Credit hedge fund returns (May 2023)
Credit hedge fund returns

Credit funds at a glance (May 2023)
A round-up of people moves and fund raising

March madness sees most funds give up gains made in Q1
After a positive start to the year, credit funds ended the quarter with a step backwards; just under 30% of those listed reached positive returns for the month.

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

CLO market finds feet again after ‘miniature credit crunch’ blows up spreads in March
Markets were rocked by what some observers have called a “miniature credit crunch” in March, with disruption beginning with the collapse of Silicon Valley Bank and ending with UBS’s takeover of Credit Suisse.

Defaults rise yet fears of low recoveries hurt even more
Defaults and Chapter 11 filings are picking up this year amid tougher economic conditions for borrowers

CLO funds make best of a bad situation
It can’t get any worse can it? Well, it did in 2022, when credit spreads kept moving wider. Still, CLO funds were able to withstand the pressure, and they outperformed other credit strategies

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

FCA greenlights synthetic Libor
The UK’s Financial Conduct Authority has given the go-ahead for ‘synthetic Libor’ as it creates a bridge for Libor contracts that do not have any hard-wired language referencing Sofr. 

Antares adds to new syndicated loans unit with portfolio manager hire from Apex
Antares Capital has hired Andrew Stern as managing director and portfolio manager responsible for liquid credit

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