Altice France reminds creditors that unrestricted subsidiaries can be freely spun-off
Altice France's debt documents permit the XpFibre spin-off, and most credit agreements and high yield bond indentures permit the distribution of the equity in unrestricted subsidiaries

Blackstone reports 18% return from private credit over last 12 months
Blackstone's private credit and liquid credit returns outperform private equity investments in the last 12 months

CLO funds maintain strong start to 2024 to stay top year to date
The first quarter of 2024 has been a memorable one for CLO funds, as the category continues its dominant spell, claiming 7 of the top 10 spots in March

Fund performance
In February, CLO funds once again claimed the majority of top positions in our fund ranking — this time taking eight of the top 10 spots (see table below).

Wave of legal hires becomes a tsunami
In February alone legal heavyweights Allen & Overy, DLA Piper, Fried Frank, Kirkland & Ellis, Proskauer Rose and White & Case all announced the arrival of partners in the credit space

Fund performance
Q4 has kicked off with structured finance funds leading the way in the Creditflux league tables, as the category index reached 0.61%, and all but one fund made positive returns.

Fund performance: European CLO funds lead the way
February was a positive month for many funds, as only one quarter failed to reach the black. This builds off a stellar start to the year: 96% of funds reached a positive return in January

Fund performance: Credit funds end difficult 2022 on a positive note
In December 66% of credit funds reached a positive return, following an even better November where 81% of all funds pushed into the black

LP round up: 27 managers find the top corner with investor wins
Credit fund managers like to take it one fund at a time and give it 110% for their 90-minute investor fund pitches - and it's working as $3.8 billion was allocated during November and early December. The gaffer would be proud. 

Structured credit gains focus from 75% of UK pensions: Aeon
Three quarters of UK pension schemes say they are increasingly focused on structured credit products

Cairn begins "new chapter" as it rebrands to Polus
Cairn Capital has been renamed Polus Capital Management, which brings it together with Bybrook Capital, the credit asset manager it acquired in 2021.  

Fund performance: Wake us up when September ends
After a resurgent August, credit markets hit a rough patch in September, with every Creditflux index posting negative returns, and only 12.9% of funds in our listings showing a positive return.

Fund performance: August provides much-needed relief for CLO funds
.August fund performance 

Apollo invests $1 billion in IG CLOs, launches secondary solutions platform and cuts BDC fees
In its earnings call, Apollo highlighted the resilience of the CLO asset class, strong deployment in direct lending, upcoming reduction in management fees for its publicly traded BDC and the launch of a new secondaries and sponsor solutions platforn, seeded by Abu Dhabi Investment Authority

Fund performance: Select funds shine in dreary June for credit hedge funds
Credit funds suffered through June, as only 8% of listed funds reached the black. This made June the fourth month in a row in which negative returns increased

Fund performance: Rocky May piles on the misery for credit hedge funds
Negative fund performance soared in May

Arcmont says liquid loan opportunities depend on timing as it advocates direct lending instead
Arcmont Asset Management has made the case for direct lending over syndicated loans in a white paper, despite having being an admirer of CLO management platforms 

Fund performance: Credit hits another bump in the road after March revival
There was more upheaval for credit funds in April, reversing the mini-recovery in March as 40% of funds made positive returns, a decrease on the 47% in March

Fidelity International makes senior direct lending hires in private credit push
Fidelity International has been staffing up in European direct lending, with 12 additions to the private credit team that was established a year ago

Spac pricing hints at Sound Point's growth ambitions in loan market
Sound Point Acquisition Corp has priced a $225 million IPO, signalling that credit asset manager Sound Point Capital Management is looking to expand its platform

Ucits at a glance: 2022 opens shakily but with a familiar lead
Ucits funds moved slowly into 2022 as 59% made negative returns in January

Fund performance: Groundhog Day as 2021 leaders start strong
CLO funds once again claim the most top performing spots as seven out of 10 funds belong to the category

KKR and PGIM among bidders to buy Alcentra: Bloomberg
BNY Mellon is set to offload its credit investment unit Alcentra, according to a report by Bloomberg citing people familiar with the matter

Fund performance: CLO funds deliver again, but third of all funds post losses
CLO funds took six of the top 10 spots in October in a continuation of the previous month’s strong performances. However, a consistent showing from Wasserstein in the US high yield category has claimed the top spot for the last two months

LP round up: no Stoptober as investors allocate $5 billion to credit
US institutional investors allocated $5 billion to credit funds in October, with Oak Hill and Pimco among the biggest mandates