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

Credit and equity retreat from extremes but oil slumps further
Financial markets are mounting a tentative recovery on Tuesday, having been hammered to new bearish extremes at the start of the week

Novicap names new CEO in leadership shuffle as it sets targets for credit division
Novicap, a fintech company offering working capital optimisation solutions to SMEs and mid-market corporates, has shuffled its leadership structure and set a €1 billion cumulative volume target for its credit division by the end of this year

LP round up: Apollo and Silver Rock win over $1 billion as pensions plough into private debt
Institutional investors allocated at least $2 billion to credit funds in April, according to Creditflux data, with Apollo and Silver Rock emerging as big winners

Earnings wait puts German firm’s investors in real state
The credit market’s brief relief rally on Thursday morning has given way to a resumption of the bearish run, with one European high yield borrower entering dangerous territory and Tesla coming under pressure in US credit after its share price took a hit

US high yield outperforms as credit adds to rally
French equipment rental company Loxam is among the biggest movers as credit markets rally for a second day, but US high yield is having the better week

High yield and IG single names diverge even as buyside seeks macro neutrality
High yield and investment grade single names are moving in opposite directions at the start of the week, while indices reflect a push by investors to cut directional exposure to macro credit

Crestline collects $3.6 billion across three private credit fund closes
The Fort Worth, Texas-based manager has closed its fourth opportunistic credit fund, third direct lending fund and second portfolio financing fund

Russia’s long EM index tenure cut in one swoop
Various constituent changes have been tabled for the forthcoming March roll of CDX and iTraxx credit derivative indices into new series, but one stand out is the administrator’s decision to eject Russia from all series of CDX EM

Nuclear power plant seizure amps up commodity chaos
The high volatility driven by Russia's invasion of Ukraine is taking financial markets to new extremes, with credit ending the week once again hitting new widest spreads since mid-2020

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

York's European credit team embarks on fresh start under Fidera
York Capital’s European credit team has completed its spin out 

Ukraine crisis takes EU and Russian markets into new territory
Credit spreads went back to the wides again on Monday, after the European Union intensified its pressure on the Russian economy and reached an unprecedented agreement to supply Ukraine with weapons

Investors rush to hedge Russia as barrage of threats tee up nervous weekend
The prospect of a flare-up between Russia and Ukraine has left credit spreads back at their recent wide levels going into the weekend, with European investment grade credit particularly feeling the heat following 'false flag' headlines on Friday

Europe leads relief rally with energy and peripheral bank credits outperforming
Credit spreads are making a broad move tighter on Tuesday, with European Central Bank president Christine Lagarde having tried to rein back rate hike expectations and oil company BP posting strong profits

Europe/US relative value comes into play amid growing credit outflows
Big successive moves wider are taking credit spreads to new extremes and bringing compression between Europe and the US amid the highest daily market volatility since 2020

Saipem near-term default risk spikes following Moody's downgrade
Saipem's CDS curve has inverted precariously to reflect the company having become the most likely near-term default in the iTraxx Crossover index

Bond pipeline builds as rocky markets thwart supply
Various factors have played into credit spreads widening at the start of 2022, but an over-supply of bond issuance is not one of them — in contrast to what was moving the market this time last year

Performance dispersion hits index equity correlation
Volatility at the start of the year has intensified moves in iTraxx and CDX index tranches, with traders pointing to growing dispersion in performance among constituents as a theme that will bring more focus on equity correlation in 2022

Financial-corporate compression in play as relief rally extends
Credit markets are experiencing a second day of improvement, with financials outperforming corporate borrowers in the investment grade arena

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

Värde promotes three credit specialists to partner
Värde Partners has promoted Jim Dunbar, Aneek Mamik and Carlos Sanz Esteve to partner

HPS reveals private credit-focused non-traded BDC
HPS Investment Partners has become the latest manager to launch a public, non-traded business development company