Weil promotes structured finance specialists to partner
Weil Gotshal & Manges has promoted two structured finance specialists to partner, according to an announcement from the firm.

24 CLO managers hold J Crew loan as it drops 4.62%
A total of 109 CLOs hold $219.4 million exposure to J Crew, whose Term Loan B traded down 4.62% from yesterday 

Texas pension fund commits €75 million to European distressed debt
A $30.01 billion pension fund has awarded €75 million to a European distressed debt fund managed by AnaCap Financial Partners

Crestline holds $600 million final close for PE-focused financing fund
The new fund will provide financing to private equity funds post their investment period, allowing them to provide follow-on growth capital to portfolio companies or additional liquidity 

Global CLO league tables at a glance - October 2018
A snapshot of the overall league tables as of 31 October

Tikehau’s private debt AUM hits €7.5 billion
Tikehau Capital, the Paris-based asset management and investment firm, has reached €7.5 billion in private debt assets under management (AUM) as of September 2018. This represents an increase of 17% for the third quarter, amounting to €1.1 billion  

Los Angeles pension backs Lone Star fund
Los Angeles Fire and Police Pension System has approved a commitment of up to $40 million to Lone Star Fund XI, according to a monthly report  

September: Ucits at a glance
Ucits funds continue to post mixed returns

Selling at the time of the default or downgrade can often be the worst value decision for the CLO
CLOs don’t have to be forced sellers during distress cycles: skilled CLO managers and well-structured indentures can give optimal recoveries, says our columnist Thomas Majewski

Dwindling refi viability forces revision of CLO forecasts
A combination of a flatter term curve and squeezed arbitrage is causing market participants to adjust their CLO forecasts on both sides of the Atlantic

Machines connect as credit managers’ new best friends
The clamour for credit funds that adhere to environmental, social and governance (ESG) criteria means the managers behind these funds are handling ever-larger and deeper data sets. This has led a growing number of fund managers to divert resources into incorporating artificial intelligence (AI) and machine learning into their investment processes

Europe-US convergence poses trading conundrum
A convergence between European and US investment grade credit index spreads over recent weeks has left strategists nonplussed, with some suggesting a trend reversal could be on the way

Past returns: Citi kickstarts CSO market
Five years ago in Creditflux, we reported on the revival of the synthetic CDO market, with Citi leading the push

They said it: ebit-don't or ebitdaaa
Two direct lenders take turns complaining about ebitda adjustments

Points up front: Creditflux makes significant SRT call
They were once referred to as regulatory capital relief trades (or reg-cap trades), but now no one can agree on what to call them

Buy and hold isn’t only option for CLO equity
New US CLO equity is being more regularly flipped into b-wics. Figures suggest that equity pieces of 2017 and 2018 US deals made up 22% of the b-wic market over the past four quarters

Widening whisks market back to 2017
Right now, CLO volumes are healthy and the list of active managers is steadily growing. But with CLO liability spreads reverting to where they were a year ago, some issuers are a little nervous.

Managers digest blockbuster deals
Third quarter loan and bond volumes tend to be small — but this year corporate credit fund managers have swallowed huge deals from AkzoNobel, Altice and Refinitiv

DTCC begins test phase for blockchain credit derivatives platform
15 of the world’s largest banks have begun testing the blockchain-based credit derivatives platform by the Depository Trust & Clearing Corporation

Dai-ichi anchors global infrastructure debt fund with $176 million
Asset Management One Alternative Investments has joined together with Dai-ichi Life Insurance to launch a new global infrastructure debt fund

Managers see growth in distressed and direct lending, but structured credit splits opinion
The private credit industry remains on track to grow to $1 trillion assets under management by 2020, according to joint research published by the Alterative Credit Council and law firm Dechert with allocations to distressed and mid-market deals tipped to rise. But structured credit has divided US and European managers

UBS AM hires PM to infra debt team as it nears final stages of fundraising
UBS Asset Management has recruited portfolio manager Viktor Kozel to its real estate and private markets business. Speficially, he will work within the infrastructure debt team as the firm goes about fundraising for Archmore Infrastructure Debt Platform II  

Ares ups its target for US senior direct lending growth to $4.7 billion
Following $5 billion of inflows into global direct lending in the third quarter, Ares has upped the target for its US direct lending strategy 

LaSalle expands into US real estate debt with Latitude acquisition
LaSalle Investment Management has bought a majority stake in the $1.2 billion debt business of Latitude Management Real Estate Investors

Buy and hold isn't only option for CLO equity
New US CLO equity is being more regularly flipped into b-wics. Figures suggest that equity pieces of 2017 and 2018 US deals made up 22% of the b-wic market over the past four quarters