iTraxx and CDX roll provisional lists reveal effects of index overhauls
Eagerly awaited provisional lists are out for this month’s index CDS rolls, with big changes signalled across iTraxx and CDX products

US credit managers make ESG breakthrough after taking a first step via UNPRI
Incorporating a framework for investing in companies based on environmental, social and governance (ESG) factors is a challenge that US credit managers are accepting in growing numbers

Capital Four holds final close on nordic direct lending fund
The Copenhagen-based manager has held an €343 million final close for its latest private debt fund, according to market sources

RiverRock launches direct lending fund in partnership with European bank
RiverRock has launched a European direct lending fund in which it has signed an exclusive co-investment agreement with a bank

Credit traders’ kickstand: it’s a tough time to go short
Credit derivative indices are ending the week back at very tight levels, with a re-convergence of spreads, with little appetite to bet against presumed central bank dovishness or the upcoming CDS rolls in September

Italian job bombshell doesn't blow doors off financial CDS outperformance
Senior financial CDS have been among the best performing credits today as the market pushes tighter, with seemingly little anxiety about yesterday’s resignation of Italian prime minister Giuseppe Conte

Emerging market CDS trading slumped in Q2, finds Emta
There was $364 billion of emerging markets CDS trading in second quarter, according to the Emerging Markets Traders Association

UK pension pool launches multi-asset credit search
Border to Coast, a £46 billion ($56.8 billion) partnership between 12 UK pension plans, is seeking for a core multi asset credit manager, for its recently opened multi asset credit fund  

Apollo fee earnings rise 9% in Q2 as structured credit boosts portfolio
Apollo Global Management’s credit portfolio increased 4% quarter-over-quarter to $201 billion, driven by growth in affiliated life insurance firm Athene, as well as corporate credit and structured credit

Flat curves and decompression make waves below the surface
Hopes of using the summer slowdown to get to the beach may be tempered for credit relative value traders, where opportunities abound behind the uninspiring benchmark numbers of the slow market grind.

UK direct lending deal flow picks up with 99 deals in H1, finds GCA Altium
While loan volumes in the UK were much higher than expected, activity in Germany was lower compared to H1 last year, according to the GCA Altium MidCap Monitor Q2 2019

GSO adds $10 billion to inflows with direct lending, structured credit and energy
Blackstone grew its credit assets under management to $139.3 billion, up 13% on a year ago, according to the firm's second quarter earnings release

UK pension pool to launch maiden private credit offering
Border to Coast Pensions Partnership is launching its first private credit offering in early Q4, Creditflux has learned

Private debt boosts Partners' AUM
Partners Group has reached €17.2 billion in private debt assets for the first half of 2019, with private debt experiencing the highest net growth among all private markets, according to an AUM update from the manager today  

Calpers misses returns target despite fixed income outperformance
California Public Employees' Retirement System (Calpers) has missed its annual investment target despite strong performance from its fixed income portfolio, which was its top performer  

Santander issues SRT referencing Spanish SME loans
Banco Santander has issued a significant risk transfer referencing a €3 billion portfolio of loans

Credit traders' kickstand: European financials outperform as Trump-Xi meeting looms
Credit markets are finely poised going into the weekend, when US president Donald Trump’s crunch G20 meeting with Chinese president Xi Jinping likely could set the direction of trade from Monday

Rallye CDS auction price drops to 12.5 cents on unmatched sell requests
Rallye's credit event auction to settle CDS contracts produced a final price of 12.5 cents today, lower than the initial price set in the first round this morning of 14.975

First Abu Dhabi Bank pushes into credit derivatives with trading head hire
First Abu Dhabi Bank (FAB) is making a foray into credit derivatives and has hired an experienced credit trader to lead the initiative

European loan trading: CLO managers snack on Ifco loans
35 CLO managers were holding €364.2 million  €364.2 million of IFCO’s loans in April – all at par

US and European basis trades in play as bonds lag CDS rally
A recent outperformance of CDS indices versus cash bonds has opened up basis trade opportunities on both sides of the Atlantic, say credit strategists

Cheyne aims to capitalise on stress within direct lending as it closes €1 billion opportunistic fund
The fund seeks to capitalise on the accelerated sell-down of mid-market corporate loans by European banks

Highbridge refocuses on credit as it liquidates listed multi-strategy fund
Highbridge Capital Management has announced to investors in a multi-strategy fund that it is winding down the vehicle and refocusing its business exclusively towards credit

Credit traders' kickstand: nervous equilibrium gives way to weakness as earnings and tariffs weigh
Healthy fund inflows, European and US holidays, and a thinning primary market helped sustain credit spreads this week, but a weaker turn today shows this is a fragile equilibrium and company earnings misses are starting to be punished more severely

Border to Coast pension seeks exposure to UK investment grade credit
Border to Coast Pensions Partnership is set to begin a manager selection process, seeking UK investment grade credit and global multi-asset credit funds