Euro loan trading: CLO managers find a home for building specialist's downsized loan
CRH Europe issued a €700 million term loan B in November, which was downsized from €900 million. But still, it has proved popular with CLO managers with CLO-i indicating that CLOs bought €275.2 million of the loan

UK charities join forces on hunt for ESG managers
Three UK based charities are joining forces in the hunt for a manager to oversee a £32 million ($41.6 million) portfolio with a strong focus on environment, social and governance (ESG) criteria as well as impact investing  

CBAM plans expansion with new $60 million credit facility
CBAM has closed a $60 million credit facility to refinance a working capital facility to its parent company Eldridge Industries

UK pension eyes managers as part of £1 billion-plus credit expansion
Border to Coast Pensions Partnership is seeking investment managers for single credit asset class mandates,

Värde launches $2.5 billion global credit fund
Värde Partners has raised $2.47 billion for a new global credit fund, according to an announcement today

Ex-CQS portfolio manager resurfaces at Axa IM
A former European leveraged loan portfolio manager who left CQS in July 2018 has resurfaced at Axa Investment Management

Direct lenders seek flexibility as leverage facilities disperse
European direct lending funds are frequently taking on leverage, and with some of these facilities topping €1 billion, leverage providers are looking to syndicate their exposures among other banks.

Ucits at a glance: Ucits continue to chart a steady course

Ucits at a glance: ucits continue to chart a steady course

CIFC beefs up investor relations team in London with two hires
CIFC Asset Management has hired from Muzinich and Murano in a bid to strengthen its European investor relations effort

S&P acquires ESG rating business from RobecoSam
S&P Global has acquired an ESG ratings business from RobecoSam, according to an announcement. The acquisition includes that of SAM Corporate Sustainability Assessment (CSA), an evaluation tool.

Azimut hires ex-Dyal official as it aims to buy minority equity in asset managers
Azimut will initially focus on acquiring minority stakes in alternative asset managers with under $3 billion AUM – including private credit, private equity, infrastructure and real estate firms

Finnish life insurer assembles European loan investment business
The firm has brought over a loan portfolio manager from parent company Sampo Group to head the new unit and added a former Deutsche Bank official 

Western to launch European loan business after hiring portfolio manager
Western Asset Management is launching a European corporate loan business after hiring an experienced credit portfolio manager with a background rooted in the CLO industry

Investors increasingly see ESG as fiduciary duty, State Street survey reveals
North American investors are most likely to view ESG as a fiduciary duty, while European investors are driven by regulation, performance and reputational risk, according to results from a survey conducted by State Street Global Advisors

Managers dispel myth that lenders can’t influence ESG
There’s a growing belief among credit fund managers that they can influence borrowers to take on ESG-friendly practices, contrary to the widely-accepted notion that the business practices of companies are dictated by their private equity owners.

ESG integration is part of fiduciary duty, finds UNPRI
The United Nations Principles for Responsible Investment (UNPRI) report ‘Fiduciary Duty in the 21st Century’, published late last month, concludes that ESG is a source of investment value, ending debate that using ESG criteria might violate fiduciary duties.

BTIG founds European fixed income credit division and adds four traders
The London-based division will be led by Michael Carley, who BTIG hired last year as a fixed income managing director in New York

Proskauer promotes eight to partner in credit
Law firm Proskauer has promoted 15 lawyers to partners in its London, New York and Boston offices – including eight who work in credit

Mayer Brown adds leveraged finance partner in Frankfurt
Mayer Brown has appointed Bernina Butt to its banking and finance practice as partner

Distressed loans get IHS Markit workover as tech service aims to cut settlement times
IHS Markit is unveiling an electronic solution through its ClearPar platform aimed at simplifying trade settlement for distressed leveraged loans, an area that has greatly lagged efficiency in the par loans market    

CLO supply set for double-digit drop in 2020, says JP Morgan
US CLO supply in 2020 will be as much as 20% down on 2019, while European issuance will fall 13% year-on-year, predict JP Morgan strategists in a research note. Even so, new CLOs should still outpace existing deal paydowns, as well as high yield primary market net new issuance

Schroders integrates ESG into corporate revolving credit facility
The firm is the first asset manager to convert its corporate revolving credit facility into an ESG-linked facility, it claims, and will link pricing to three ESG-related key performance indicators

Credit CIO Finch leaves GLG
Simon Finch has parted ways with Man GLG, according to market sources, ending an 18-month stay at the firm where he served as chief investment officer for credit

NNIP's private debt head moves to private equity job
The team leader for direct lending, loan portfolio financing and non-performing loan securitisations at NN Investment Partners has moved to a senior private equity job at AnaCap Financial Partners