Index tranche levels spike as investors advance into equity
Trading of credit index tranches is picking up, with some $61 billion worth changing hands in the space during the first quarter, according to data from the Depository Trust & Clearing Corporation

Jefferies subsidiary and Stonyrock plan mid-market alternative manager stake acquisitions
The new joint venture will invest in private equity, credit, hedge funds, real estate, venture, and infrastructure firms

Carmignac adds global credit Ucits strategy to its range
The fund will be co-managed by Carignac’s head of credit Pierre Verlé and fixed income fund manager Alexandre Deneuville

Bespoke gains pull CLO buyers as market tipped to hit $100bn
Synthetic bespoke issuance could catch up with the more visible CLO market this year, say structured credit specialists

US pension fund earmarks $375 million for various credit strategies
Massachusetts Pension Reserves Investment Management Board (Mass PRIM) has committed $125 million to distressed, $100 million to aviation investments, while earmarking $150 million for structured credit    

Regulation stifles SRTs, but banks and investors revel in quarter-four outperformance
Over the course of 2018 there was roughly €6.5 billion of issuance in the market for significant risk transfer (SRT) deals, sources say, with the last three months understood to be the busiest quarter on record

Behave yourselves: EBA policy advisor warns against misuse of securitisation rules
The European securitisation market has come a long way over the last decade, and the message from one policy advisor is clear – don’t do anything to mess it up.

Majority of investors seek to increase private credit allocations, BlackRock survey reveals
Over half of investors plan to increase their allocation to private credit in 2019, according to an institutional client rebalancing report published by BlackRock

Cairn sheds light on single-investment SRT fund
Fresh details have emerged on Cairn Capital’s new significant risk transfer (SRT) funds with the manager informing Creditflux that Pathfinder Fund III was structured such with US requirements in mind

Cairn adds two SRT funds to its roster
Cairn Capital has raised $150 million across two significant risk transfer (SRT) funds - with differing mandates - according to an announcement by the firm

Blackstone builds on multi-asset approach with fifth fund
The new vehicle will invest directly into Blackstone deals across its alternatives platform

Managers see growth in distressed and direct lending, but structured credit splits opinion
The private credit industry remains on track to grow to $1 trillion assets under management by 2020, according to joint research published by the Alterative Credit Council and law firm Dechert with allocations to distressed and mid-market deals tipped to rise. But structured credit has divided US and European managers

GoldenTree adds partner to its structured credit team in London
GoldenTree Asset Management has made a big hire to its London office with a structured credit specialist joining as partner

ArrowMark builds in London with big SRT hire
ArrowMark is one of the biggest investors in the SRT market, but unusually it conducts most of its business out of the US. It has now added to its presence in London with an experienced official joining its SRT business

Axiom puts tranches at core of push into synthetic credit
Axiom Alternative Investments is set to target both index and bespoke tranches with the launch of Axiom Synthetic Credit Opportunity Fund.

Jefferies creates team and aims to build CSO business
Amid mounting buy-side interest in the synthetic CDO market, sources say that Jefferies is looking to build a US business arranging these transactions  

BlackRock becomes latest manager to explore interval fund structure for credit
Several managers have hit the market with the interval fund structure, as investors look to invest in illiquid strategies through an illiquid fund structure

Dealers show appetite to retain tranches amid CSO growth
There are increasing numbers of dealers involved in the CSO market and their approach to issuing bespokes is evolving, attendees at Creditflux’s Credit Dimensions conference heard last month.

Steep climb: dealers and investors cross-examine merits of five-year CSOs
The market for bespoke tranches of credit synthetic obligations (CSOs) looks set for further year-on-year growth, but this could depend on expanding activity to longer tenors

Fortress ABS fund surpasses $450 million
New York-headquartered Fortress Investment Group has raised just over $450 million for its asset-based credit fund

Cheyne more than doubles assets for credit fund in five months
Cheyne Capital has more than doubled assets for Cheyne Total Return Credit Fund December 2023 – in the space of just five months

Invesco to convert Canadian bond fund into global credit strategy
The new Invesco Active Multi-Sector Credit Fund will have a global multi-sector approach

Sovereign investors' allocation to alternative credit increase rapidly, finds survey
Sovereign investors are increasing their exposure to CLOs, direct lending and bank loans, according to a 2018 Global Sovereign Asset Management Study published by Invesco this week

Standard Chartered plans refocused SRT return
One of the biggest issuers of significant risk transfer (SRT) deals is returning to the market