Altice France new capital structure starts trading as investors consider M&A potential
Restructuring completed as secured debt trades; break-up of Altice France business possible through sector consolidation

A slow, global rebalancing away from the US dollar and Treasuries – Amundi’s Grégoire Pesques
PODCAST: There is a major need for diversification away from the US dollar, says Grégoire Pesques, CIO, global fixed income at Europe’s largest asset manager Amundi, in the latest Credit Exchange podcast with Lisa Lee. In the meantime, the lack of obvious safe havens has seen gold a big winner

Aviva’s new pension strategy to allocate 20%-25% to private markets
My Future Vision has partnered with Neuberger, KKR, Apollo and others to deliver private markets access to pension savers 

Blackstone’s Jane Lee to leave the firm
EXCLUSIVE: Blackstone's head of CLO capital formation who spearheaded its CLO issuance has resigned to take time off

Apollo launches sports lending strategy with new hires
The sports and live entertainment-focused strategy will invest in private credit and hybrid capital solutions opportunities

HSBC AM launches evergreen fund targeting trade, working capital assets
The new private credit strategy will invest in assets such as receivables and payables finance, trade loans and other instruments around the world

Mizuho EMEA names former BNP Paribas exec as CIB head
Matthew Ponsonby will become head of Mizuho EMEA’s corporate and investment bank, and president and CEO of Mizuho International on 1 October

Pseudo-trading plan language becoming increasingly formalised for CLOs – Dealscribe
The new report " new CLO basket is born" says that the development makes aggregation period language “nearly identical” to a traditional trading plan

CLO market braces for First Brands fallout
Auto part supplier's leveraged loan has been bid at 40 cents on the dollar, boding ill for recoveries and a hit to equity returns, as First Brands hurtles toward a restructuring

Crescent hires MDs for significant risk transfer strategy
The private credit manager’s bank capital solutions strategy focuses on credit risk-sharing deals

Hayfin hires two MDs for product and sales
The two managing directors will join the firm’s partner solutions group that focuses on creating new products and reaching new investors

Private credit has won the buyout financing game – Churchill’s Randy Schwimmer
PODCAST: “Long-term, I think the game is over from a buyout perspective. I think private capital has won that game,” says Randy Schwimmer, vice-chairman and chief investment strategist at Churchill Asset Management, on the latest episode of Credit Exchange with Lisa Lee

Alts firms turn to sports sponsorship to get their names out in the stands
Carlyle strikes partnership with F1 team Oracle Red Bull, following Blue Owl tennis tie-up and Apollo golf sponsorship; the efforts come amid a broader push into private wealth channels

Carlyle nabs head of direct lending origination from Golub
EXCLUSIVE: The firm also hired a second managing director focused on originations as it re-staffs its direct lending franchise

Evolving M&A is transforming the capital formation landscape – KKR
'Critical' link between M&A and credit is set to fuel growth in private markets

High issuance creating opportunities in CLOs and Australian ABS – Janus Henderson
ABS portfolio manager Ian Bettney finds market tight but sees attractiveness in certain sectors; high issuance keeping spreads on CLOs, Australian ABS, and US non-QM deals attractive

Equity funds keep CLO market active even as arb thins
CLO managers are raising equity capital to back their own issuance, and the surge is transforming the market

‘We like managers that are honest about the risks’
Investor's Corner with Elena Rinaldi, portfolio manager at TwentyFour Asset Management

Hot August sets tone for rest of 2025
Some European CLO managers still get time off in summer, but the days when the whole market shut down are long gone. So, in a busy year for CLOs, this August was the second busiest ever

News in brief
Stress in good quality companies opens up opportunities, says Oak Hill Advisors' Alan Schrager

Post-COVID, companies are adroit at managing supply-chain disruptions
With plenty of capital seeking a home and high grade credits well positioned, IG spreads will stay tight, reckons Duncan Sankey

Success in a larger market requires increased discipline and innovation
As the US CLO market grows, lower quality loans and increased volatility create new challenges, writes Tetragon's Dagmara Michalczuk

Fund performance – July 2025
CLO funds dominate in early summer with clean sweep of top 10

Credit funds at a glance – July 2025
Our roundup of top performers, fundraising and moves in credit

Credit hedge funds – July 2025
Credit hedge fund performance