UK funds brace themselves against value-for-money ruling
The UK’s Financial Conduct Authority (FCA) has published its final set of fund governance rules that aim to strengthen the duty of authorised fund managers to their investors.

SVP closes fourth global special situations fund at its $2.85 billion hard cap
Distressed and special situation specialist Strategic Value Partners has held a final close for its fourth special situations fund, hitting its hard cap with $2.85 billion capital commitments

Former GSO distressed specialist to launch European credit fund - report
Bloomberg reports that Akshay Shah, a former senior managing director at GSO Capital Partners, has launched his own fund management business known as Kyma Capital in London

Credit manager PVE hopes to prosper following rebrand
London-based PVE Capital has restructured and rebranded, forming a new company named Prosperise Capital to replace PVE Capital

Structured credit investors look beyond US RMBS
Re-remic, re-performing loans, non-performing loans and single family rental securitisations have come into favour as non-agency RMBS issuance dries up

Distressed credit specialist rakes in $781 million for global debt fund
Balbec Capital's latest global credit fund has a $1 billion target

Former CQS credit CIO Finch joins Man GLG in top credit role
Man Group has hired Simon Finch as CIO of credit at its Man GLG unit

CarVal distressed specialist departs after three and a half years in London
Maxime Hennequet has left CarVal Investors after more than three years at the firm, Creditflux has learned

Structured credit PM earns promotion as Pimco unveils new managing directors
Structured credit portfolio manager Russell Gannaway is among seven officials to have been promoted to managing director at Pimco

Och-Ziff's head of European private credit set to join Carlyle
Carlyle Group has made a high profile hire to its credit team in London

European Commission introduces proposals to tackle high levels of NPLs
In a bid to address the high levels of non-performing loans that are sitting on bank balance sheets, and to reduce future accumulation of NPLs in the banking sector, the European Commission yesterday released proposals to try and tackle the issue.

Apollo forms Italian real estate partnership
Funds affiliated with Apollo Global Management have formed a strategic partnership with Milan-based Realty Partners to invest in the Italian real estate market

Manchester pension fund awards Stone Harbor £1 billion multi-credit mandate
A £21 billion UK pension fund has appointed global fixed income specialists Stone Harbor Investment Partners to manage a £1 billion multi-asset credit mandate

Tetragon shuts down distressed debt fund amid claims of fundraising struggles
Tetragon Financial Group is shuttering one of its subsidiary’s funds amid claims of troubles with fundraising

Apollo forms Italian credit-focused partnership
Apollo Global Management and Italian mid-market advisor Apeiron Management create a strategic partnership focusing on Italian corporate credit opportunities

Minnesota pension fund looks to commit $535 million to 'private credit'
Minnesota State Board of Investments has recommended investments worth $535 million to private credit, according to board documentation seen by Creditflux

Goldman distressed debt specialist to join HPS in London
London-based Frederick Morris is leaving Goldman Sachs and moving to HPS Investment Partners, Creditflux has learned

Makuria brings in over $900 million for special situations-focused credit fund
London-based Makuria Investment Management has received $918 million in capital commitment for its credit fund, according to market sources

Ironshield guards against future stress in Europe
The withdrawal of quantitative easing in Europe, coupled with rising interest rates, could lead to increased volatility and improved credit selection opportunities, especially among low-grade credits

Brokerage Exotix appoints global head of fixed income
London-based Exotix Capital has appointed Dean Tyler as global head of fixed income

Former Greylock professionals iron out plans for EM distressed launch
Two London-based former professionals from Greylock Capital Management are preparing to formally launch Fierro Capital Management two years after the firm's incorporation, Creditflux understands

Manager holds first close on second Italian credit recovery fund
DeA Capital Alternative Funds has announced the first close of its second Italian credit recovery fund at €300 million

Carlyle's head of origination for credit earns promotion to partner
Carlyle Group has announced 58 senior promotions across all its global offices: eight to partner, 19 to managing director and 31 to principal/director

Alchemy strikes gold with new distressed fund hitting £900 million
Distressed debt specialist Alchemy Partners has successful raised £900 million for its fourth special opportunities fund, holding a final close at the fund's hard cap