Astor and Armory team up for US mid-market credit interval fund
Astor Investment Management has teamed up with Armory Capital to launch a middle-market credit interval fund, according to US regulatory filings

Azimut hires ex-Dyal official as it aims to buy minority equity in asset managers
Azimut will initially focus on acquiring minority stakes in alternative asset managers with under $3 billion AUM – including private credit, private equity, infrastructure and real estate firms

CLO managers brace themselves for Acosta bankruptcy
CLOs hold $402.5 million exposure to Acosta, a sales and marketing agency that is looking likely to file for Chapter 11 bankruptcy soon. A total of $163.7 million of Acosta’s term loan left the hands of CLOs in 2019

Fund performance
A round-up of fund performance click here.

BTIG founds European fixed income credit division and adds four traders
The London-based division will be led by Michael Carley, who BTIG hired last year as a fixed income managing director in New York

Distressed loans get IHS Markit workover as tech service aims to cut settlement times
IHS Markit is unveiling an electronic solution through its ClearPar platform aimed at simplifying trade settlement for distressed leveraged loans, an area that has greatly lagged efficiency in the par loans market    

CarVal’s independence backed by five-year Cargill loan
CarVal Investors’ management buy-out from parent company Cargill will be financed with a five-year term loan from Cargill alongside equity contributions by management, documents seen by Creditflux reveal.

Fund performance
A round-up of fund performance

Ucits at a glance
A round-up of ucits fund performance

Credit funds at a glance
A round-up of fundraising and people moves in credit

Franklin Templeton reorganises long-short credit fund team
Asset manager Franklin Templeton Investments will make changes to the portfolio managers for the Franklin K2 Long Short Credit funds, effective from October

MacKay Shields integrates CVP's loan team while spinning out distressed debt
MacKay Shields has spun out the distressed debt business of Credit Value Partners and focus resources on CVP’s leveraged loan platform

Ucits at a glance
A round-up of ucits fund performance

Credit funds at a glance
A round-up of fundraising and people moves in credit

Fund performance
A round-up of fund performance

Fund performance: Mercury rises as does credit fund performance

BlackRock launches $2 billion coporate credit fund with special situations remit
BlackRock has closed its flagship opportunistic credit fund, Global Credit Opportunities, with $2 billion capital commitments

Investor requirements rather than performance is driving ESG push: Creditflux survey
Only 14% of respondents to Creditflux's global credit ESG survey said performance was the main reason they were adopting envoronmental, social and governance-themed strategies

Clover Tech cov-lite loan blots CLOs after spilling a third of its value
The past week’s biggest declining loan by some way, for printing cartridge maker Clover Technologies (aka 4L Technology), is a worry for CLO portfolios as some 21 managers hold the name, according to CLO-i

CLO managers lick their wounds with Joerns bankruptcy
Seven CLO managers hold $92.3 million exposure to US healthcare equipment businesses Joerns Woundco Holdings, which filed for Chapter 11 bankruptcy on Monday 

Rallye CDS auction date set with three initial deliverables
A credit event auction to settle CDS referencing Rallye, the parent of French supermarket chain Casino, will take place on 27 June, with the Determinations Committee having agreed an initial list of three deliverable obligations

Fund performance

Mizuho appoints US and European credit trading heads in leadership shake-up
The hires include a newly created CLO role, head of credit trading, and head of special situations and illiquid trading 

Cairn teams with Mediobanca for European credit Ucits fund
The strategy will focus on four credit asset classes - financials, corporates, asset-backed securities and special opportunities