Vanguard plans global credit bond fund launch for US investors
Vanguard’s $1.3 trillion fixed income group is looking towards a US-domiciled global credit bond fund in the fourth quarter this year, following the Ucits version it launched last year 

Institutional investors are too constrained in their private debt approach, research suggests
Institutional investors are too constrained in their approach and are focusing too much on mid-market corporate direct lending, research from global advisory firm Willis Towers Watson suggests

Central clearer resource concentration puts systemic risk in spotlight
A joint study by regulators has revealed that default resources are increasingly concentrated in just two central counterparties

London-based direct lender wins as San Francisco pension fund deploys into private credit
A Californian pension fund has mandated $60 million to a strategic credit fund, as part of its private debt pacing plan to deploy up to $750 million to private debt annually

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

Credit drives strong returns for five of the largest asset managers in the business
Carlyle is close to hitting its ambitious fundraising target; direct lending has been kind to Ares; and Och-Ziff has decided to shed its US CLO risk retention stakes after exiting its financing agreements

Dyal buys minority stake in another private credit manager
Following a minority stake acquisition in HPS last month, Neuberger's Dyal has now attained a stake in another New York based private credit manager

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

Direct lenders express concern over proliferation of ‘adjusted ebitda’ terms

Alarm sounds on margin rules as small funds look to make early inroads
A fast-approaching 1 September regulatory deadline for phase three market participants to apply initial margin (IM) to derivatives trades looks set to pass without serious mishap, according to lawyers and the International Swaps and Derivatives Association

Consultant calls on investors to quiz managers over ESG processes
The lack of consistent and reliable data seems to be a major challenge when embracing environmental, social and governance (ESG) criteria across private equity, infrastructure and credit.

CLO Ucits funds take off despite investment limits
CLO investors are swarming over the Ucits fund market, despite the obvious regulatory headwinds and stringent liquidity requirements associated with these structures

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

Oaktree raises new special situations fund while CIO warns of direct lending risk
Oaktree Capital Management has released its second quarter 2018 results in which the Los Angeles-based firm reported $2.4 billion of new capital commitments in the quarter

ICG reports €4.8 billion of inflows over three months after direct lending success
Intermediate Capital Group has released its quarter end results - showing strong inflows and deployment

Portfolio managers continue to be pessimistic on credit outlook, survey finds
A survey by the International Association of Credit Portfolio Managers states that 56% respondents believe average corporate default rates will increase over the next 12 months 

German asset manager launches CLO-focused Ucits fund
UniInstitutional Structured Credit, managed by Frankfurt-headquartered Union Investment, will invest in a portfolio of securitisations, with a strong focus on CLOs  

Connecticut pension fund looks to mandate $140 million to private debt
Connecticut Retirement Plans and Trust Funds mandated $50 million to Balance Point Capital and is looking to invest up to $90 million to Intermediate Capital Group

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

Capital Dynamics registers debut direct lending fund
Zug-based Capital Dynamics is looking to launch Capital Dynamics US Middle Market Credit Fund after establishing a private credit business over the last 12 months

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

Neuberger's Dyal acquires minority stake in HPS
Dyal Partners, a division of Neuberger Berman, has acquired a minority equity stake in global credit manager HPS Investment Partners

LCH expands into US with CDSClear as JP Morgan goes live
CDSClear, the Paris-based credit default swap clearing house of LCH, has expanded its reach into the US with JP Morgan becoming the first US bank to offer client clearing

Alcentra appoints Rajguru as global chief investment officer as Hatfield retires
Alcentra has appointed Vijay Rajguru as global chief investment officer effective 2 July 2018, a spokesperson for the company has confirmed to Creditflux, following Paul Hatfield's decision to retire from the firm at the end of the year