Pension funds line up to finance direct lending in wake of USS deal
Lending to direct lending funds is fast becoming a big business, with institutional investors now looking to take on the role of leverage provider

Capital Four makes gains as Takko revives
Capital Four Management’s credit opps fund makes a strong start to 2017

Deployment fees create risk, say direct lenders
The fee structure of European direct lending funds could force fund managers into buying unnecessarily risky loans

Buy-side firms eye slice of trade receivables pie
European insurers and asset managers are looking to break the stranglehold that banks have had over the market for trade receivable securitisations

La Française switches from CLOs to tranches to play EU uncertainty
Manager rotates out of CLOs and into index tranches on the basis that value has moved into synthetic credit

Hedge fund spins out technology business
Credit hedge fund manager Hellebore Capital is spinning out its technology arm with the aim of building the go-to venue for credit derivatives pricing information

Investec pulls out of emerging market and sterling credit businesses
Emerging markets and sterling credit sales and trading desks to fold at South African lender in London

Eiffel proves you don’t need to guess oil prices to pick good oil bonds
Paris-based manager benefits from tertiary link to oil bounce with helicopter pick 

Ex-GoldenTree partner lands at Brigade to fortify its European CLO plans
There is a change of leadership at Brigade's London offices with an experienced portfolio manager filling a position that had recently opened up

US pension fund to channel capital into Waterfall's new European unit
A US pension fund is looking to take advantage of New York-based Waterfall Asset Management's recent expansion into Europe

CQS promotes New York-based loan portfolio manager
Credit hedge fund manager CQS has promoted a loans specialist in its New York offices, according to market sources

Pension fund backs Apollo with $200 million for new European credit fund
Apollo Global Management is looking to raise around $3.5 billion for a new credit fund which will look to purchase non-core assets off the books of European banks

Investment grade specialists exit Citi’s London offices
Senior investment grade analysts follow sales head out of Citi in London 

US bank hires portfolio manager for €1 billion push into European loans
Market sources say that a large US bank has hired a seasoned credit professional with experience at Indicus Advisors, 3i Debt Management and Intermediate Capital Group, as part of its plan to invest in European loans through its treasury desk

European loan specialist leaves sell side to join Black Diamond
Black Diamond Capital Management has added a European loan specialist to its team in London

Former CQS credit analyst joins brokerage for asset management role
A senior credit analyst has joined a firm, perhaps best known for its brokerage business, to work on its funds business