Saba to close London office, reports Reuters
$1.7 billion hedge fund manager Saba Capital Management is closing down its offices in London

Pemberton to take flexible approach with new direct lending strategy
Direct lender Pemberton will have the ability to provide junior financing to performing companies as part of a new initiative

We only defeat a monster by building a new one
Whatever happened to Lombard Risk? New competition for Bloomberg messaging is a sign of history repeating

Think outside the box
While the US market credit is the most liquid and the UK is considered the home of European direct lending, there are opportunities further a?eld

Spotlight: Satellite operators - sending signals of distress
Satellite operators are trying to transmit optimistic messages – but they admit that prices for data services are falling

Hayfin raises €2.2 billion for special opportunities strategy
Hayfin Capital Management yesterday announced that it has completed fundraising for its new special opportunities strategy

Talk of carbon dioxide reduction boosting credit returns is hot air
There are good reasons to adopt a carbon neutral investing philosophy – just don’t expect it to have a major effect on alpha generation

It’s starting to look like 2007
It’s beginning to look a lot like 2007. Everywhere you go. 

They said it: Changing the rules
“The ECB has just changed the rules. You can get zero-ed overnight.” 

Past returns: Spanish financials trade comes good
Five years ago, hedge funds piled into Spanish bank debt on the belief that a bail-out of Spain would leave senior bank debt investors unscathed. 

Fees on the line as CLO investors fight back over ramp-up failings
CLO managers globally are being chastised for failing to deliver on their model portfolios.

Global raters dodged a bullet from the “Catalan Madoff”
At least one global rating agency dodged a bullet by declining to rate a Spanish fund backed by small and mid-market loans that is now being put into liquidation

SEB promotes leveraged finance official in Frankfurt
SEB says that leveraged finance specialist Stuart Hewer has been appointed as its new head of acquisition finance

Oak Hill resets its debut European 2.0 CLO
The manager made its first move on the European CLO market this year with deal arranged by Goldman Sachs

CLO round-up: triple-A investors answer the call as spreads hit 118bp
Hold the phone, CLO triple-A spreads are as tight as 118bp. That's if you're lucky enough to be on the approved list of a major Japanese bank

Imperial adds structured credit talent to London and New York offices
Imperial Capital has added to its structured products business in London and New York

GLG scores 80bp print as it refinances debut European CLO
The hedge fund is the second European CLO manager to price triple A notes at 80 basis points over Euribor.

CVC Credit raises $600 million for global CLO risk retention programme
CVC Credit Partners has announced the final close of its $600 million CLO risk retention vehicle, CVC Credit Partners Global CLO Management. 

Oak Hill looks to revamp its first post-crisis euro CLO
Oak Hill Advisors is looking to become the latest manager to carry out a reset of a European CLO following similar exercises recently by Investcorp and Chenavari, according to market sources

Ares brings in leveraged finance specialist Higgins as partner in credit group
The former global head of long-only credit strategies at BlueBay Asset Management has resurfaced at Ares Management in London

Deutsche Bank revamps and upsizes Chenavari’s debut euro CLO
Deutsche Bank has priced an upsized reset of Chenavari’s inaugural CLO, transforming the €308 million Toro European CLO 1 into a €410 million transaction dubbed Toro 4

CLO round-up: US CLO triple As hit 121bp amid late flurry of deals
What had started off as a quiet week in the new issue CLO market has ended with a bang as MJX Asset Management refinanced a deal on Thursday while American Money Management (reset) and CVC Credit Partners (new US CLO) have priced today

Up-and-coming distressed debt manager plans its second fund
A west coast manager led by a group of former Barclays officials is launching its second global distressed debt fund

Price talk circulates ahead of Chenavari European CLO reset
Chenavari is on course to reset its debut European CLO