Fund performance
Entering the final three months of the year, CLO funds took a clean sweep of the top 10 spots in the Creditflux tables. October was strong overall, as over 85% of funds listed made positive returns

Credit hedge funds
Credit hedge fund perfomance

Credit funds at a glance
Fund performance, recent hires, recent fundraising

BNP Paribas sees credit upside in 2025, even amidst Trump-led unpredictability
The bank also sees CLO equity outperforming in 2025 benefiting from resilient loan fundamentals, strong cash flows, and the upside potential from reset activity

BlackRock acquires HPS in USD 12bn deal
BlackRock has acquired HPS Investment Partners for USD 12bn in an all-stock transaction, creating a private credit franchise with a combined USD 220bn in client assets

Blackstone buys billion dollar infra loan portfolio
Blackstone Credit & Insurance-managed funds agreed to acquire interests in a USD 1bn portfolio of global infrastructure loans from Santander

HSBC Asset Management launches venture debt strategy with new hire
HSBC Asset Management turned to an SVB Capital veteran for a newly created position, head of innovation credit, to build out a venture lending strategy

Altice France reminds creditors that unrestricted subsidiaries can be freely spun-off
Altice France's debt documents permit the XpFibre spin-off, and most credit agreements and high yield bond indentures permit the distribution of the equity in unrestricted subsidiaries

Fund performance - Emerging markets index takes top spot in solid month for credit overall
September was another positive month for credit funds. In almost every category our indices were positive, and four strategies showed solid average returns of 1% or more. 

Credit hedge funds
Credit hedge fund performance data for September YTD 

Credit funds at a glance
Top fund indices, Marathon EM Bond Fund, people moves anf recent fundraising

Apollo and Mubadala extend capital solutions originations partnership
Apollo and Mubadala Investment Company have extended a private debt partnership established in 2022 that focuses on finding larger deals that require bespoke capital solutions

Ares negotiates sub line lending solutions with banks
Ares Management is upping its subscription line lending activity. It has agreed a new partnership with Investec and is talks with a number of other banks

Global SRT market set for record year, according to Chorus estimates
A new update from SRT specialist Chorus Capital forecasts that 2024 will be another record-breaking year for its market with the number running around 25% ahead from last year so far

Corinthia eyes EUR 1bn first close for maiden European direct lending strategy
Corinthia is on the cusp of holding a EUR 1bn first close for its inaugural European direct-lending strategy, four sources familiar with the situation said. 

Wendel announces purchase of majority stake in Monroe Capital
French investment firm Wendel announced on Tuesday it has agreed to acquire 75% of US private credit firm and CLO manager Monroe Capital for USD 1.13bn, as part of its planned expansion into third-party asset management.

Apollo raises USD 4.8bn for large cap direct lending
Apollo Global Management has closed its Apollo Origination Partnership Fund II, raising approximately USD 4.8bn of investable capital

Europe still leads US in SRT as banks diversify types of risk transferred
Despite copious headlines about the arrival of US banks to the significant risk transfer (SRT) market, Europe continues to lead the charge

European direct lending firms raise record funds in third quarter
European direct lending fundraising jumped up a notch last month, as year-to-date figures almost doubled in a few final closes

Fund performance
August returns were largely positive for credit hedge funds, as 88% of those listed in the Creditflux database reached into the black

Credit hedge funds
Credit hedge fund performance tables as of the end of August 2024

Credit funds at a glance
Emerging markets, structured finance and US high yield outperform, plus our tables of recent credit hires and recent fundraising

Nuveen Private Capital taps Ares partner for private wealth distribution
The platform encompassing Churchill Asset Management and Arcmont Asset Management, has hired Moshe Bajnon for the newly created position of global head of private wealth

Adams Street raises additional USD 289m for evergreen fund
Adams Street Partners has corralled an additional USD 289m for an evergreen direct lending fund that launched in 2020

Monarch raises USD 4.7bn for 6th credit opportunity fund
Monarch Capital Partners VI follows a “distress for control” strategy with a focus on corporate credit in North America and Europe