Cerberus ends 10-month CLO absence with tight triple-As
Cerberus Business Finance ends a 10-month absence from middle market CLO new issues by partnering with Natixis to price Cerberus Loan Funding XXVIII

Newcomer wins Creditflux Manager of the Year award in virtual event
Last night Creditflux presented its first ever virtual hosting of our annual Manager Awards, with over 450 people tuning in live to see the winners announced

LP round up: horseshoe does the trick for Pimco and other distressed managers
Institutional investors poured $2.7 billion into credit this week through 14 managers, according to board documentation seen by Creditflux

LP round-up: Champaign pension raises a glass (or bucket) to private credit
Institutional investors allocated over $600 million to 11 managers this week, according to board documentation seen by Creditflux

Cerberus raises $779 million for direct lending fund
Cerberus Business Finance is raising a new direct lending fund, according to regulatory filings

LP round-up: mighty Oaks win $1 billion apiece from Calpers
Credit investors allocated over $3 billion to 18 credit managers this week across a wide range of strategies

Bluestem bankruptcy hits $106 million of CLOs
CLOs hold $105.7 million of the debt of US retailer Bluestem which filed for Chapter 11 bankruptcy last week, according to the latest trustee reports from CLO-i. 

San Francisco pension earmarks $200 million for mortgage fund
San Francisco City and County Employees’ Retirement System (SFERS) has committed $200 million to a credit fund managed by Cerberus Capital Management  

HSBC notches up first US CLO arranging credit
HSBC has teamed up with Natixis as co-arranger on the latest new issue CLO from Cerberus Business Finance

Cerberus scores $100 million add-on for SMA as LPs favour existing relationships
North Dakota State Investment Board is looking to extend its partnership with direct lender Cerberus, in a bid to maintain its desired allocation to the direct lending asset class

Texas pension to lift direct lending budget to $250 million
Texas County & District Retirement System (TCDRS) is considering investment in a number of direct lending funds, with existing and new managers, according to documents seen by Creditflux  

CLO managers suffer puncture with $85 million of Jack Cooper debt
CLO managers hold $85.8 million of exposure to auto hauler Jack Cooper Ventures, which filed for Chapter 11 bankruptcy, according to the latest trustee reports from CLO-i 

New kids on the block dominate awards

Spire wins Creditflux Manager of the Year award
Spire Partners was the big winner at Creditflux's Manager Awards last night as the London-based manager scooped the award for the manager of the year. On top of this, the firm picked up awards for Best European CLO Manager and Best European CLO for Aurium CLO II

Managers slide down term curve
PGIM and Voya were among managers issuing short dated deals in the first quarter. These CLOs, along with a surge in b-wics, kept up the supply of short dated paper as refinancings fell away

Mid market CLO round-up: Cerberus steps up with unusual triple As
Three middle market CLOs were brought to the market this week via Cerberus, Maranon and First Eagle

Cerberus opts for step-up tranche for low-levered mid market CLO
Cerberus Business Finance opted for a step-up tranche in its first CLO of the year, which priced yesterday via Natixis

Mid market CLO league tables: inaugural reissue boosts Cerberus
With the year almost wrapping up, things are looking up for middle market CLOs with 18 managers now involved in this space

Cerberus adds a fourth CLO to its 2018 deal tally as volumes approach $2 billion
Cerberus Business Finance’s 2018 middle market CLO volumes approached the $2 billion mark yesterday after the manager priced its fourth new issue deal of the year

Mid market CLOs should outperform regular CLOs in the next downturn, conference hears
Middle market CLO managers are bullish on their prospects when the credit cycle does eventually turn, according to panelists at IMN’s ABS East conference in Miami this week

Cerberus appoints former JP Morgan COO as president
New York-based Cerberus Capital Management has announced three senior leadership promotions: Matt Zames as president of Cerberus, Frank Bruno to co-chief executive officer  and Lee Millstein as president of the Cerberus global investments.   

Wells Fargo prices three CLO transactions in a single day
Wells Fargo priced three CLO transactions on Thursday, totalling $1.47 billion issuance, according to market sources