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

Credit hedge fund returns (September 2023)
Credit hedge fund returns  

CLO funds are hot in summer as they take nine spots in top 10 (Fund performance)
CLO funds took the lead through summer as the returns of the category index reached 1.88% and 3.18% in June and July, respectively. Both months saw a CLO fund as the top performer — Sound Point Meridian in June, and Oxford Gate Master Fund in July.

JP Morgan wins Kirschner case as court rules loans are not securities
The Second Circuit Court of Appeals has ruled in favour of JP Morgan in the Kirschner case that term loan Bs are not securities

LSTA hires new director of policy research
The Loan Syndications and Trading Association has appointed a new director of policy research

Arini continues expansion with Credit Suisse hire

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

Columbia names new loan and CLO head as Howard announces retirement
Columbia Threadneedle Investments has appointed the next head of its US bank loan team after current head Jerry Howard announced his retirement effective in January next year

Recent US bankruptcies show non-DIP lenders wiped out
A trio of recent US bankruptcies is testing the CLO market's recovery assumptions, according to Debtwire’s Restructuring Database of recent court filings.

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