Russia returns to default pricing as railway co awaits credit event vote
Russian credit spreads are once again under intense pressure and sanctions-related credit events are back under the spotlight as the country's state-owned railway company faces the scrutiny of the Emea Credit Derivatives Determinations Committee

Carlyle hits $4.6 billion hard cap on second global credit opps fund
With leverage, Carlyle Credit Opportunities Fund II has around $6 billion of capital to deploy

Russian Railways posed to DC as failure-to-pay credit event
Russian Railways has been posed as a failure-to-pay credit event, following a filing about its debt on the Swiss Stock Exchange on Friday

Federated Hermes hires official with restructuring experience to direct lending team
Federated Hermes says it has hired Christoph Lausecker as a director in its private debt team

Russia extends rally as DC rules against repudiation / moratorium
Russian Federation CDS contracts rallied strongly for a second day on Thursday, after the Credit Derivatives Determinations Committee ruled a repudiation / moratorium had not occurred on the country's sovereign debt

DC accepts request to rule on Russian repudiation / moratorium
The Russian Federation is subject to credit event scrutiny over warnings it could repay foreign bond investors in rubles, with the Credit Derivatives Determinations Committee agreeing to rule on a 'potential repudiation / moratorium' question

German real estate firm leads way as credit makes another lurch tighter
Adler, the German real estate investment group, is among the outperformers in Friday's rallying credit market, despite an audit by KPMG having been unable as yet to refute allegations made against the company

Russia debt repudiation / moratorium question lands with Determinations Committee
The Russian Federation looks to be edging closer towards triggering a credit event, having been referred to the Credit Derivatives Determinations Committee for a 'potential repudiation / moratorium' on its bonds

Crestline collects $3.6 billion across three private credit fund closes
The Fort Worth, Texas-based manager has closed its fourth opportunistic credit fund, third direct lending fund and second portfolio financing fund

Russia’s long EM index tenure cut in one swoop
Various constituent changes have been tabled for the forthcoming March roll of CDX and iTraxx credit derivative indices into new series, but one stand out is the administrator’s decision to eject Russia from all series of CDX EM

Russia CDS won't be orphaned in credit event but could pay big, say investors
Contrary to a flurry of recent media reports, Russian Federation CDS contracts are highly likely to have deliverable bonds in the event the country triggers a credit event - and this could come soon with high pay outs for protection holders

LP round up: Fidelity wins big, Pacific retains loan mandate, pensions eye distressed
The month also included one CLO fund commitment, one high yield manager search, one finalised US loans mandate and one $400 million multi-sector fixed income managed account mandate

Fund performance: Groundhog Day as 2021 leaders start strong
CLO funds once again claim the most top performing spots as seven out of 10 funds belong to the category

Credit hedge funds (March 2022)
Credit hedge fund returns

Credit funds at a glance (March 2022)
A round up of fundraising and people moves in credit

Europe braces for long dip amid fear of rising inflation
Credit markets are heading into uncertain times, with soaring inflation rates and the subsequent actions of central banks the primary drivers

York's European credit team embarks on fresh start under Fidera
York Capital’s European credit team has completed its spin out 

Russia debt hits default levels amid FX and asset lock-up
Russia appears to be on the brink of default on its debt, with bonds and CDS pricing in the likelihood of an imminent trigger

Ukraine crisis takes EU and Russian markets into new territory
Credit spreads went back to the wides again on Monday, after the European Union intensified its pressure on the Russian economy and reached an unprecedented agreement to supply Ukraine with weapons

Willis Towers Watson promotes manager research specialist to global credit head
Willis Towers Watson has named a global head of credit for manager research

French co rattles investors on micro level as Russia overclouds macro
After a cautious opening, investors in the European credit market have resumed hedging as western leaders continue to talk up the prospect of Russia invading Ukraine and the Kremlin has dismissed hopes of a Biden-Putin summit as premature

Ukrainian volatility speaks loud and clear after Russia talks fail
Ukrainian and Russian credit are ending the week with renewed volatility, as failed attempts at diplomatic talks appeared to exacerbate rather than simmer down tensions between the countries

Saipem extends recovery as credit market stabilises
Saipem is the credit market's main mover on Thursday in a flatter day for spreads following recent volatility

Relief rally for riskiest credits brings reversal on dispersion and first loss trades
Some of the European high yield credit market's riskiest corporate credits are enjoying a strong relief rally, among signals of reprieve from the woes that have beset them in recent weeks