Former GoldenTree high-flyers launch structured credit firm in Los Angeles
A former GoldenTree senior portfolio manager and business development specialist have launched an asset manager that will invest across an array of structured credit, including CLOs, synthetics and private transactions

SVP collects $1.65 billion for dislocation fund in four months
Strategic Value Partners has closed fundraising for its Strategic Value Dislocation Fund with around $1.65 billion in commitments

Credit fundraising: managers build homes for real estate credit funds
The “largest ever real estate credit fund” was one of the fundraising highlights last month as Blackstone’s Real Estate Debt Strategies IV fund reached $8 billion on its final close

Go long index mezz tranches to pick up spread: Citi
Citi research has outlined some of the opportunities that have arisen in the index tranche market as a result of elevated correlation

Voya loan co-head Norman set to retire
Dan Norman is set to leave Voya Investment Management, where he co-heads the senior loan team, at the end of the year

Bain prepares credit dislocation strategy
Bain Capital Credit looks set to raise a fund dedicated to opportunities arising from credit dislocation, just four months after collecting $3.2 billion for its latest distressed debt and special situations vehicle

Barings launches second North American direct lending fund
Barings has begun fundraising for its second North American-focused direct lending fund, three years after closing the firm’s inaugural strategy.

Mediobanca's private markets division raises $120 million for third fund
Mediobanca’s private banking division and Russell Investments have held a $120 million final close on a third private markets fund

Europe/US high yield gap re-opens with roll, but raises fair value questions
The semi-annual roll of US high yield index CDX HY has once again put daylight between it and European counterpart iTraxx Europe. But the new series has come in tighter than some market participants had anticipated

Aegon targets ABS for new fund
Aegon Asset Management says it has launched a global ABS fund with a return target of Euribor plus 500 basis points

European high yield converges on US as credit pushes wider
A worrisome week is ending with spreads pushing to new local wides and underperformance of European high yield versus US credit

LP round up: $5 billion flows to credit as private market allocations increase
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux

Spreads gap wider as slowdown fears sink in
Concern over the gathering coronavirus second wave, economic slowdown and the need for further central bank interventions has pushed credit spreads sharply wider, with yesterday’s US late session downturn spilling over to Asia and Europe

Barings and PGIM win loan and structured credit mandates as pension puts £2.7bn in credit
The firms will manage global syndicated loans, securitised credit, emerging market debt and global high yield credit for Border to Coast Pension Partnership's £2.7 billion ($3.43 billion) multi-asset credit fund 

Blackstone raises $8 billion for 'largest real estate debt fund ever'
Blackstone is flush with cash to deploy into commercial real estate properties after finalising fundraising on its latest real estate debt fund, Blackstone Real Estate Debt Strategies IV

Curves steepen as roll shifts risk from the front end
CDS index curves have steepened with the September roll, with the reformulation of iTraxx and European portfolios having a noticeable impact on the front end of the curve

Index roll brings sea change for US/Europe relative value
The roll of CDS indices to new series has shifted relative value measures between Europe and the US, with CDX indices trading in a tighter context to their new iTraxx counterparts

Fallen angels and financials feel heat as CDS indices roll
CDS indices are rolling into new contracts today, with outgoing series of iTraxx Europe and Crossover widening sharply from the market’s open on technical as well as fundamental factors

Pantheon collects $800 million for private credit strategy
The $50.7 billion manager has raised $800 million for a private debt fund, according to US regulatory filings

Sculptor promotes two after European credit head leaves for Pimco
Sculptor Capital Management has filled the void left by Mathieu Clavel, its former head of European and Asian corporate credit in Europe and Asia, by promoting two senior figures in its credit business

Credit retreats from tights as central banks offer reality check
European credit is following Asia wider today, picking up from where the US left off yesterday as the Federal Reserve vowed to keep overnight rates near zero for the coming years

Crossover dips below 300bp as retailers leave the basket
The removal of defaulting constituents Hema  and Matalan from iTraxx Crossover has helped take the index to its tightest prints since the start of the coronavirus sell-off

Hayfin appoints global business development head
Hayfin Capital Management has hired a new global head of business development from Avenue Capital in New York

Wriedt buys minority stake in direct lender Scio and joins as strategic advisor
Oliver Wriedt, the former chief executive officer at DFG Investment Advisers, has bought a minority stake in European credit asset manager Scio Capital

Noble and Hema produce disparate pay outs for CDS
This week has brought the high and lows of CDS settlement, with Noble Corporation bestowing an ultra low high pay-out for protection buyers after Hema protection sellers suffered less of a hit than was modelled by assumed recoveries