Credit funds at a glance (September 2021)
A round up of fundraising and people moves in credit

Audax prints its largest middle market CLO to date
Audax Private Debt has issued its largest CLO to date named Audax Senior Debt CLO 6, which came in at $601.35 million

Silver Point makes CLO debut with $400m middle market deal
Silver Point Capital has become the third manager to debut in US CLOs after printing its first CLO on Friday

KKR prints largest new CLO of 2021 with static mid market deal
KKR Credit has priced the largest new issue CLO of the year to date, teaming with Bank of America on the huge $1.13 billion static deal named KKR Lending Partners III

SMBC Nikko builds on CLO momentum with mid market deal for Monroe
SMBC Nikko has picked up its third CLO credit this year

Credit Fundraising: Blue Owl and WhiteHorse gain from improving animal spirits
Fundraising perked up in July as managers raised $14.9 billion for credit funds - the third highest monthly amount this year

Golub adds BSL CLO and extends mid-market advantage with reset
Golub Capital Partners has followed up its hefty middle market CLO in July with a slightly smaller $559.1 million broadly syndicated loan deal via Credit Suisse as well as a reset of a 2020 transaction

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

Mid market CLO league tables: stalwarts Golub and Natixis reign supreme again
It may have taken seven months, but the mid market CLO league tables have familiar faces at the top with Golub Capital and Natixis leading the way in manager and arranger issuance, respectively

BlackRock issues low levered, mid-market CLO with two arrangers
BlackRock has priced its second CLO of the year backed by loans to middle market companies

Credit Rendezvous: And breathe...
The unanimous verdict is that credit spreads will be moving wider – they have to. But the difficulty credit fund managers face is predicting when the next sell-off comes and how sharp it will be. In the Q3 instalment of Creditflux’s Credit Rendezvous, the over-riding message from portfolio managers is that there’s little point in taking on too much risk. The report features the views of prominent credit figures including Paul Horvath (Orchard), Himani Trivedi (Nuveen), Ronnie Jaber (Onex), Graham Rainbow (Alcentra) and Michelle Russell-Dowe (Schroders). The report looks at 14 segments of the market including CLOs, direct lending, leveraged loans, distressed debt and credit derivatives.  

Golub issues 2021's third-largest middle market CLO
Golub Capital Partners has issued the third-largest middle market CLO of 2021 to date

Antares hires experienced investor relations official from Barings
Antares Capital has hired a head of investor coverage in asset management

"I’ve been doing ESG for 27 years; I just didn’t know it"
Apollo's Joe Mornoey takes our credit quiz

Past returns: Mid market CLOs move into light
Ten years ago in Creditflux, we reported that S&P was reducing shadow ratings after it notified CLO managers it would not assign such ratings to companies with more than $499 million of outstanding debt

Fund performance: Déjà vu as April leaders dominate
CLO funds stayed in the top flight for another month as they took over the top 10 credit hedge fund return table in May, when 87% of all funds listed made positive returns

Credit funds at a glance (July 2021)
A round up of fundraising and people moves in credit

Credit fundraising: managers take care of infrastructure with new partnerships
Credit managers were busy launching new partnerships to support growth in infrastructure and CLOs. There were 13 announcements in the month paving the way for upcoming funds, platforms, and joint ventures

Barings completes first middle market CLO since 2019
Barings has issued its first CLO backed by middle market loans since October 2019

Sound Point looks to amplify mid-market offerings with BDC and CLOs
Sound Point Capital Management expanded into mid-market lending earlier this month with the acquisition of CVC Credit Partners’ US direct lending arm, and the firm has big ambitions to expand the business

Cerberus prints lesser-spotted CLO reissue
Cerberus Loan Management priced a rare CLO reissue on Wednesday in just the fourth deal of this flavour of transaction to print in 2021

Golub near-doubles size of CLO that left reinvestment last year with late reset
Golub Capital Partners teamed up with GreensLedge on Friday to reset a middle market CLO, Golub 33(M)-R2, almost doubling the size of the transaction

Update: Kayne to split from CLO and credit opps units
Kayne Anderson is set to spin out its CLO business

Audax brings CLO haul to $2 billion with largest deal so far
Audax Management Company issued a fifth middle market CLO on Thursday, bringing its deals under management to $2 billion