Credit fundraising: November marks turning point as fund launches spike
November was always set to be an important month as the world awaited the US election outcome and the results of covid-19 vaccine trials. This did nothing to slow down fund managers as 14 funds launched, up from only four funds launching in September and five in October

Highbridge closes convertible dislocation fund with over $2 billion to deploy
Highbridge Capital Management has held a final closing of its convertible dislocation fund

Europcar posed as failure to pay credit event
Europcar Mobility Group has been proposed to the Emea Determinations Committee as a failure to pay credit event, following the French vehicle hire firm's announcement of a financial restructuring

Wide-end names gain ground as market hits impasse
Financial markets appear to have a hit resistance points in several asset classes today, with credit, stocks and oil prices struggling to find traction despite encouraging signals from the UK on rolling out the Pfizer/BioNTech covid vaccine

Spread compression resumes with US passing key milestones
Credit markets have resumed their crunch tighter today, with an absence of any obviously negative brakes to offset strengthening Asian industrial numbers and applications by vaccine makers for emergency approval in the US and Europe

Bulls give up some gains as IG banks and energy lead market wider
In a cautious opening to the week, credit spreads are edging wider against a backdrop of faltering oil prices but marginally strengthened stocks

Certior targets smaller distressed funds as it launches fund of funds
Certior Special Opportunities Fund is targeting distressed debt, opportunistic strategies, special situations, non-performing loans and asset-backed securities 

Europe keeps to the grind with wide-end driving improvement
Credit exhibits a firm tone as the week draws to a close, with index spreads grinding back towards their tights despite a mixed picture for oil prices and much of the US market away after the thanksgiving holiday

Stressed credits push tighter even as index bulls take profit
A cautious tone has returned to financial markets ahead of the US thanksgiving holiday, with the strong push tighter of credit spreads in recent sessions giving way to a widening move

Investment grade rallies hard on hopes of end to US deadlock
In a change from the recent trend investment grade credit is the front mover today, playing catch up on high yield as the market-wide rally gathers pace

LP round up: Monroe and Angelo Gordon beat 25 for direct lending mandate, as private credit plans brew
US public pension funds have disclosed $1.2 billion in commitments to credit focused strategies

European high yield stays positive as rest of market hits resistance point
Credit markets are taking a cautious step back following the recent rally, with only European high yield spreads still exploring their best prints of the week 

Covid toll puts reality check on market rally
Credit markets look to have hit a point of resistance, with spreads retracing today amid a rising likelihood of stricter covid-19 measures be applied in places such as New York, Tokyo and Madrid

No CDS auction for Scandinavian Airlines 'soft' credit event, rules DC
A credit event auction will not take place for Scandinavian Airlines System Denmark–Norway–Sweden CDS contracts, despite the company triggered a restructuring credit event last month, the EMEA Determinations Committee has ruled

Compression gains mount as Moderna vaccine result boosts confidence
Compression trades are paying off today, with a new covid-19 vaccine announcement prompting a broad tightening of credit spreads in which high yield corporate indices lead the charge and financial names are outperforming investment grade corporate borrowers

Manager shrinks in distressed and explores US direct lending sale: Debtwire
A global asset manager has a fresh set of priorities for its global credit platform with distressed debt and US direct lending moving down the pecking order

Compression and curves in play amid second day of vaccine rally
Credit spreads are converging as they edge tighter again today, following their forceful improvement to pre-covid levels yesterday due to a successful covid-19 vaccine test

Värde closes $1.6 billion dislocation fund
Värde Dislocation Fund, has a flexible, global mandate to invest in mispriced, stressed and distressed credit, focusing on short- to medium-term credit opportunities

Primary pumped as Trump gazumped and vaccine hopes jump
A 'yuge' rally is underway in credit markets today, with optimism over Joe Biden's apparent victory in the US presidential election turning to elation following a big covid-19 vaccine breakthrough

LP round up: $2.8 billion flows to credit as Apollo concedes fundraising may slow
Florida Retirement System Trust Fund made the largest commitments allocating $1.6 billion. Apollo meanwhile acknowledged a potential slowdown in fundraising as investors await results on an independent review into CEO Leon Black's relationship with Jeffrey Epstein

I foresee various spooky spectacles hitting our screens - and your long portfolios
Welshcake is settling in for a horror movie marathon. But in the previews he sees monsters lurking behind tight credit spreads

Fund performance: Structured finance finds its footing with credit rally
For the first time this year we have seen a structured finance fund take the top spot, as Serone Key Opportunities Fund leads a multitude of other funds in this category in the top 10 of our monthly fund rankings

Ucits at a glance: European funds and CLOs head rankings
Ucits fund returns

Credit funds at a glance (November 2020)
A round-up of fundraising and people moves

Credit hedge funds (November 2020)
Monthly credit hedge fund tables