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. 

FS and Portfolio Advisors join forces to create $73bn asset manager
FS Investments and Portfolio Advisors have announced a merger in a deal which will see Portfolio Advisors become the institutional investment arm of FS

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

"Conditions making deal financing challenging for issuers can harm beneficial terms for investors"
Direct lending terms look better than at any point in the past decade. But is there enough to go around?

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

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

PSP and Aimco form credit partnership as Aimco poaches its global credit head
Public Sector Pension Investment Board (PSP) and Alberta Investment Management Corporation (Aimco) have struck a remarkable agreement which sees the pair jointly invest in credit and the transfer of a senior figure. 

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

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. 

AlbaCore eyes reinvestment as it closes €2.4 billion private credit fund
AlbaCore Capital has held a final closed on a fund that specialises in private European credit investments

Public credit markets "most attractive for 15 years" says Wamco
The US Federal Reserve is helping to create the potential for the "most attractive opportunity in public credit markets in the last 15 years", according to a research note published by Western Asset Management

LP round up: two managers terminated as 20 win $2.5 billion
US institutional investors allocated over $2.5 billion to 20 credit managers in October, according to documents seen by Creditflux. Two credit fund managers however were terminated in the month

Fund performance: Wake us up when September ends
After a resurgent August, credit markets hit a rough patch in September, with every Creditflux index posting negative returns, and only 12.9% of funds in our listings showing a positive return.

Credit hedge fund returns (November 2022)
Credit hedge fund returns

Credit funds at a glance (November 2022)
A round up of fundraising and people moves in credit

Franklin Templeton wraps up deal for $35bn Alcentra
Franklin Templeton has completed its acquisition of BNY Mellon’s $35 billion credit unit Alcentra

Pimco targets up to $5 billion for flexible credit fund
The fund will invest across capital solutions, distressed and stressed opportunities, and idiosyncratic positions

Fidelity Investments eyes CLOs as part of multi-strategy credit fund
Fidelity Investments is preparing to launch a new multi-strategy credit fund, which will “opportunistically rotate across the entire credit spectrum”

CIFC hires Carlyle's credit investor relations head
CIFC Asset Management has hired T Michael Johnson as managing director and co-head of business development

Investors tipped to take on key role in growth of CFOs
It’s early days in the renaissance of the market for collateralised fund obligations (CFOs), but market participants are looking forward to how the product will evolve.