KKR opens Stockholm office
KKR has expanded its presence in the Nordics with an office in Stockholm

It's all relative: CDX HY touches record tights but junior US CLO tranches leak wider
Credit spreads are marching tighter, but someone forgot to tell the CLO market. European and US CDS spreads have moved in step with each other for the most part with investment grade and high yield tightening 4-6% in the last week, whereas CLOs have been losing ground

CLO demand to drive loan outperformance over bonds: BNP Paribas
The buying power of CLOs and funds could mean leveraged loans rally further and outpace high yield bonds, says BNP Paribas' credit research team

Axa IM extends palm oil policy to cover ecosystem protection and deforestation
Axa Investment Managers says it is expanding its 2014 policy of excluding investments in companies which do not have sustainable palm oil production certificates by factoring in deforestation and ecosystem protection

Schroders unites private market divisions under Schroders Capital umbrella
Schroders has united its private market capabilities under a new umbrella branded Schroders Capital

BlueBay hires Germany/Austria institutional sales official in new role
BlueBay Asset Management has tapped a former bfinance official as head of institutional sales Germany and Austria, a newly created job

"Technology won’t replace human judgement. In ESG a qualitative review is necessary"
The social aspect of ESG must be given sufficient weight in investment decisions  

Tech firm tempts credit investors with supply chain finance offer
Novicap, a fintech company focused on invoice financing, is looking to debt capital market participants — such as credit and structured credit funds, asset managers, pension companies and insurers — as it seeks to raise third-party funding for its credit platform

Elfa adds to ESG fact sheet range in standardisation drive
The European Leveraged Finance Association (Elfa) will shortly publish sector-specific fact sheets for the transport and healthcare industries, sources say, bringing its total of ESG fact sheets to 12

Managers offer solutions for underfunded pensions
Credit managers are tapping UK defined benefit pensions that are battling negative cashflows

Breakthroughs come thick and fast for Libor alternatives
Momentum has gathered around initiatives to replace Libor in contracts, with CME Group obtaining a regulatory nod on the term Secured Overnight Financing Rate (Sofr) as well as moving to launch interest rate futures based on banks’ short term credit yields

"We should be mindful of the transfer of power to the C-suite that inheres in ESG"
As shareholder returns become one factor among many, the C-suite becomes more powerful  

Fund performance: CLO funds outperform as two hit over 100% 12-months return
CLO funds swatted away the competition in April on their way to dominating our top 10 credit hedge fund return table after an upbeat month

Credit hedge funds (June 2021)
Credit hedge fund returns

Ucits at a glance: Altana sits atop tables as credit bounces back
Ucits funds picked up in April as 79% made positive returns

Meag hires experienced credit specialist for top fixed income job
€328 billion asset manager Meag has appointed a head of active fixed income in Munich to oversee a range of assets including credit

Blackstone and Credit Suisse among participants in talks for new ESG loan index
European leveraged loan market participants – including Blackstone and Credit Suisse – are said to be in the process of launching the ESG loan index

CLO PM set to leave PGIM ahead of move to London-based manager
A London-based mid-sized CLO manager has hired an official from PGIM 

DWS and Tikehau target UK pensions with multi-strategy credit fund
The new fund will invest in CLOs, ABS, private debt, leveraged loans, infrastructure debt and real estate debt

"The lack of standardised ESG data creates opportunities for data-driven investors"
Investors can gain an edge by using technology to help parse ESG data

Woah, we’re halfway there
Judging by the 2020 vintage, European CLO overlap is 50%. But varied approaches to holding bonds and the many loans managers turn down mean there are ways for issuers to outperform

Points up front: Abrdn finds text appeal
Marketing consultants have been working overtime to concoct new brand names, but their efforts have not been met with universal acclaim

Points up front: The flattest term curve - work anniversary rewards
If you think CLO term curves are flat with a handful of basis points between three and five-year triple A CLOs, then you haven’t seen anything yet

BofA and State Street divided over CLO convertibles
A split has emerged in the approach between the two big buyers of triple A-rated CLO tranches that are structured as loans

Fund performance: Lightning strikes twice as range of credit funds deliver
What seemed like a chance occurrence in February has struck again in March, as seven categories make our top 10 best performing hedge funds