Pension funds line up to finance direct lending in wake of USS deal
Lending to direct lending funds is fast becoming a big business, with institutional investors now looking to take on the role of leverage provider

Points up front: best of frenemies
Delegates at the Creditflux Direct Lending conference in London last month were treated to much acerbic banter between two of Europe’s most experienced mid-market lenders

They said it
No-one wants to stop managers from filling their Bentleys with petrol

Capital Four makes gains as Takko revives
Capital Four Management’s credit opps fund makes a strong start to 2017

Deployment fees create risk, say direct lenders
The fee structure of European direct lending funds could force fund managers into buying unnecessarily risky loans

Buy-side firms eye slice of trade receivables pie
European insurers and asset managers are looking to break the stranglehold that banks have had over the market for trade receivable securitisations

La Française switches from CLOs to tranches to play EU uncertainty
Manager rotates out of CLOs and into index tranches on the basis that value has moved into synthetic credit

Hedge fund spins out technology business
Credit hedge fund manager Hellebore Capital is spinning out its technology arm with the aim of building the go-to venue for credit derivatives pricing information

Investec pulls out of emerging market and sterling credit businesses
Emerging markets and sterling credit sales and trading desks to fold at South African lender in London

GSO's head of European CLOs set to leave the firm
A well-known figure in the European CLO market is stepping down from his role at the largest CLO management firm in the industry

Former BlueBay partner establishes direct lending firm after key hires
The former head of German direct lending at BlueBay has launched a new firm with backing form a German private equity firm. He has hired former Barings and Park Square officials to support his new business

Euro CLO volumes surpass €2.5 billion as ICG prices reset
Intermediate Capital Group is establishing itself as the leading CLO issuer in Europe after completing a €429.5 million reset earlier today. 

Mezz spreads tighten as CVC euro CLO nears pricing
CVC Credit Partners is close to pricing its first European CLO of the year, according to market sources

European CLO pipeline builds as CVC Credit markets €415 million deal
€415.6m CVC Cordatus Loan Fund VIII is expected to price next week

2017 European CLO issuance gets off the mark as ICG prices €414m deal
Intermediate Capital Group priced St Paul's VII with Deutsche Bank yesterday evening, making it the first European manager to price a CLO in 2017

3iDM hires two arrangers for its first European CLO of 2017
NatWest is collaborating with the soon-to-be Investcorp Credit Management - that's RBS partnering with 3iDM in 2016-speak

Manager liquidates its static 2.0 European CLO
The European CLO market’s first static 2.0 deal is being redeemed two years after it launched. Unusually, the deal has benefited from a late rating upgrade

Eiffel proves you don’t need to guess oil prices to pick good oil bonds
Paris-based manager benefits from tertiary link to oil bounce with helicopter pick