Ucits at a glance: mid market fund leaps into top four
The majority of Ucits funds end Q2 on a high note as 76% of those in our database recorded positive performance in June

CIP plugs ABS team gap with senior portfolio manager hire in London
CIP Asset Management has filled a gap on its European structured credit team

Fund performance: Déjà vu as April leaders dominate
CLO funds stayed in the top flight for another month as they took over the top 10 credit hedge fund return table in May, when 87% of all funds listed made positive returns

Credit fundraising: managers take care of infrastructure with new partnerships
Credit managers were busy launching new partnerships to support growth in infrastructure and CLOs. There were 13 announcements in the month paving the way for upcoming funds, platforms, and joint ventures

It's all relative: CDX HY touches record tights but junior US CLO tranches leak wider
Credit spreads are marching tighter, but someone forgot to tell the CLO market. European and US CDS spreads have moved in step with each other for the most part with investment grade and high yield tightening 4-6% in the last week, whereas CLOs have been losing ground

Real estate firm blows wider but BoE allays broader market concerns
Adler Real Estate traded sharply against trend as high yield credit spreads hit new post-pandemic tightest levels on Thursday

Chicken supplier takes courage from earnings improvement
Boparan, one of the riskiest companies in the European high yield credit market, is among the biggest movers in bonds and CDS on Wednesday, as the market resumes its rally to the tightest prints of the year

Marathon targets $300 million for inaugural healthcare credit fund
Marathon Asset Management is targeting $300 million for a credit fund focused solely on healthcare loans

Credit indices hit impasse after US high yield returns to pre-covid tights
Credit improvement looks to be taking a breather on Thursday after the compression play in CDS indices took US high yield index CDX HY to its tightest prints since February 2020, before the outbreak of covid-19 began to blow out spreads

AlbaCore swims to €1.5 billion first close on European private debt fund
AlbaCore Capital Group has held a first close on its third European direct lending fund, which has a €2 billion target

LP round up: big name managers win direct lending mandates amid $1.5 billion allocations
Apollo, Ares, Barings and CVC were among the beneficiaries of the direct lending rush in May 

Credit fundraising: Audax scores big in lighter month
Fundraising markedly dropped in May, but credit funds still amassed $12.8 billion and 10 credit funds reached final closes across a variety of different strategies

Novicap tech platform targets credit investors with fundraising drive
Novicap, a fintech company offering working capital optimisation solutions to SMEs and mid-market corporates, is looking to debt capital markets participants such as credit and structured credit funds, asset managers, pension companies and insurers as it seeks to raise third-party funding for its credit platform

Tech firm tempts credit investors with supply chain finance offer
Novicap, a fintech company focused on invoice financing, is looking to debt capital market participants — such as credit and structured credit funds, asset managers, pension companies and insurers — as it seeks to raise third-party funding for its credit platform

Lupus Alpha CLO funds bounce over 100% in year-long rise
Lupus Alpha’s CLO funds have posted 100%-plus returns in the past 12 months, with Lupus Alpha CLO Opportunity Notes II up 137.24%

Fund performance: CLO funds outperform as two hit over 100% 12-months return
CLO funds swatted away the competition in April on their way to dominating our top 10 credit hedge fund return table after an upbeat month

Carlyle hires head of credit investor relations in New York
Carlyle Group has hired an ex-Pretium official to lead investor relations for its credit platform

Kartesia closes €1.5 billion credit opportunities fund
Kartesia has closed its fifth credit opportunities fund, Kartesia Credit Opportunities V, at €1.5 billion

LP round up: $3.2 billion flows to 21 managers as private credit illiquidity premium holds firm
Investors allocated at least $3.2 billion to credit managers in April - and direct lending funds were in favour with Churchill and Ares being awarded two mandates

Fund performance: Lightning strikes twice as range of credit funds deliver
What seemed like a chance occurrence in February has struck again in March, as seven categories make our top 10 best performing hedge funds

Telecom Italia spreads dial up as Draghi disconnects network plan
Telecom Italia is among Thursday's underperforming credits in Europe, after the country's prime minister Mario Draghi scrapped plans for a single national fibre network

Credit fundraising: three massive European direct lending funds notch up €17.6 bn
Fundraising figures continued upwards in April as just over $24 billion was raised for credit funds, alongside $3.2 worth of allocations to credit managers. Nine funds held final closes including the largest European direct lending fund raised to date

Carlyle and Aflac officials lead new ACC committee with ESG template outlined as priority
The Alternative Credit Council has launched an ‘investor manager committee’, chaired by Carlyle Group’s Erica Frontiero and Elena Boeva from Aflac Global Investments, that has ESG in private credit as one of its first orders of business

Carlyle senior credit investor joins fintech firm as CFO
An experienced credit investment professional at the Carlyle Group has moved to become chief financial officer at fintech company NoviCap

"IG investors might want to rethink the instrument, but they need not fear rising rates just yet"
In his latest column for Creditflux, Cheyne's Duncan Sankey writes that the sharp rise in 10-year US treasuries could be positive for investment grade investors, but value is in CDS rather than bonds