DebtDynamics EMEA | Right on time
Leveraged loan borrowers favouring shorter tenors pile maturities for 2028

Manulife Investment agrees deal to buy CQS
Manulife Investment Management, the global wealth and asset management portion of Manulife Financial Corporation, has agreed to buy London-based alternative credit manager CQS, including the CQS credit platform and CQS brand

Credit hedge funds
Hedge fund performance tables

Credit funds at a glance
Fund performance; people hires; fundraising 

ESG initiatives should avoid unfavourable reactions by pursuing substance over form
By any financial measure, the collaboration of trans activist Dylan Mulvaney with Bud Light hurt the brand. What was formerly America’s best-selling beer saw its market share collapse — from over 35% in May 2023 to around 9% in June — because of a boycott by US conservatives after a 60-second TikTok video aired of Mulvaney drinking it.

M&G launches first European private credit fund
M&G Investments is the latest firm looking to individual investors as an avenue for fundraising with the launch of a new ELTIF, dubbed the M&G Corporate Credit Opportunities Fund

DebtDynamics EMEA | Under pressure: likely-to-distress scores highlight struggling industries and regional woes
The European leveraged market has crossed the threshold of 100 companies at the stressed/distressed lifecycle stage, according to Debtwire data

Loan Highlights 3Q23: Loan volumes remain significantly lower than historical averages
Capital markets loan activity continued to struggle in the third quarter of 2023, as issuers in the Americas and Europe held off from tapping markets

Fund performance
Positive August for credit sees CLO funds on top again

Credit funds at a glance
Ucits see red in a tough June for returns

Credit hedge funds
Credit hedge funds performance data

Securities regulators call for improvement in practices in CLO market
IOSCO, an international policy forum for securities regulators, has called for improvement in practices in both the leveraged loan and CLO markets.

RiverRock secures €153 million in commitments for new senior loan fund

RiverRock sets €1 billion commitment target for latest fund, nearly double the size of its previous vintage

Fed members need to restore their credibility, which could translate into excessive tightening
Rising wages have boosted spending and GDP — but the party can’t last forever

Credit funds at a glance (September 2023)
A round-up of people moves and fund raising  

Credit hedge fund returns (September 2023)
Credit hedge fund returns  

CLO funds are hot in summer as they take nine spots in top 10 (Fund performance)
CLO funds took the lead through summer as the returns of the category index reached 1.88% and 3.18% in June and July, respectively. Both months saw a CLO fund as the top performer — Sound Point Meridian in June, and Oxford Gate Master Fund in July.

Arini's hiring spree continues as it builds out CLO platform
Arini continues to beef up its loan team with the hire of a senior member of the credit team at Rothschild

Snooze - you’re extended! Can lenders in European SFAs sleep-walk into extended tranches? - Xtract Special Report
This Xtract Research special report asks whether lenders under European SFAs could find themselves re-designated into a later-maturing facility or tranche than originally documented without their explicit consent

Refinancing continues to dominate headline figures in latest European leveraged highlights
Debtwire has released its July 2023 European Leveraged Highlights, containing key trends in the leveraged loan and high-yield bond markets

Neuberger Berman secures £2 billion mandate for credit fund
One of the UK's largest pension funds has awarded Neuberger Berman a £2 billion mandate for credit

Australia's largest super fund beefs up international team
Australia's largest pension fund is is growing its team across other geographies in an effort to increase its international presence

Hayfin Capital Management beefs up high-yield and syndicated loans team

Hayfin Capital Management has hired a new head of high yield and syndicated loans trading from Capital Asset Solutions

Last frontier: Common currency conquers non-Eurozone countries to dominate lev loan market
Our latest DebtDynamics EMEA research shows that the share of the European leveraged loan syndication market denominated in the EU common currency jumped from 80% in 2015 to levels closer to 95% since 2019  

Funds round-up: its still all about private credit
Our summary of all the news about credit funds in the last seven days as private credit again dominated fundraising