Global direct lending fundraising plummets in Q1
Global direct lending fundraising figures plummeted in the first quarter as coronavirus-related volatility kicked in. Managers raised just $9.4 billion raised across 11 funds compared to $18.6 billion across 15 in Q1 2019, according to Creditflux's fund database

Longview Power turns to coal for handful of CLOs
CLOs hold $43.9 million of the debt of US power company LongView Power, which filed for Chapter 11 in the District of Delaware yesterday

US/Europe CDS relative value in play as index gaps widen
A growing differential is opening this week between European and US credit derivative indices, with stark warnings yesterday on the impact of the coronavirus pandemic prompting a big sell-off in financial markets

Jump-to-default risk collapses after Senate backs biggest ever US relief package
The US Senate's agreement of a record $2 trillion stimulus package is shaking jump-to-default risk from high yield corporate credit today, with some iTraxx Crossover constituents shedding over 1,000bp from the front end of their CDS curves

Credit reels back to January 2019 levels as coronavirus impact spreads
A more positive opening for European credit today proved short-lived, as coronavirus developments caused the market to reverse its modest improvement early on to careen back to some of the widest levels in over a year

European unitranche deal flow increased 11% last year, finds GCA
European direct lending unitranche deals completed in 2019 increased by 11%, according to GCA Altum's Q4 2019 MidCap Monitor, marking a record year for the industry 

US loan trading: McDermott downgrade leads to CLO outflows as managers board rail road firm
US freight railroads operator Genesee & Wyoming allocated its $2.55 billion term loan in November, making it the most popular issuer in the month. And CLO managers were sceptical of the outlook for McDermott Technology - signalled by $185.9 net outflows - after Moody's downgraded its corporate family rating from B3 to Caa2 

Job opportunities with First Eagle: loan analysts
First Eagle Investment Management has released details of two vacancies in its loans team in Boston

Job opportunity with First Eagle: loan trading
First Eagle Investment Management s looking to hire a loan trader in Boston

European loan trading: CLO managers snack on Ifco loans
35 CLO managers were holding €364.2 million  €364.2 million of IFCO’s loans in April – all at par

Tikehau pairs with Groupama for French and European SME debt fund
The new vehicle is anchored by European Investment Fund 

Schroders appoints credit specialist to fixed income team
Schroders has appointed a former BlackRock credit specialist as an investment director focused on Schroders' credit strategies

BlackRock's AUM increases 22% in a year as ETFs contribute to growth
BlackRock’s assets under management have surpassed $6.2 trillion following “a record year” for the firm in 2017, company officials said in a recent earnings call

Bain swoops for another portfolio in Italy
Bain Capital Credit has acquired yet another portfolio of assets from a European bank

Man Group taps former Lazard professional for marketing role in Hong Kong
Investment management firm Man Group has appointed a new managing director within its institutional sales team in Hong Kong, the company announced on 13 December

Binary risks present opportunities for the brave in credit options
Asset managers putting on tail hedges in the option market present opportunities for the brave 

Funds go for cocos amid retail exodus
Hedge fund managers are scooping up AT1s after a regulatory tweak causes retail investors to rethink their participation

Syniverse bonds turn volatile amid liquidity drought
Firm's bonds drop 31 points on a single trade highlighting lack of liquidity 

High yield financials in Europe set for new growth
New asset class could reach €300 billion in the next five years