Robeco looks to align macro fixed income with credit as it makes senior hire
Robeco has hired Jamie Stuttard as co-head of the global fixed income macro team and fixed income strategist  

Muzinich poaches Neuberger Berman MD for top fund distribution role
Muzinich has hired a global head of distribution, according to an announcement today, picking up the role previously held by Joshua Hughes, who left for CIFC Asset Management in May

GSO co-founder plans new credit business
GSO Capital Partners co-founder Tripp Smith is launching his own credit management firm, according to a report by Bloomberg

Spanish bank prices €972 million SRT with triple As paying 31bp
Cajamar Caja Rural, based in southern Spain, has priced a €972.1 million significant risk transfer (SRT), according to market sources

Cairn sheds light on single-investment SRT fund
Fresh details have emerged on Cairn Capital’s new significant risk transfer (SRT) funds with the manager informing Creditflux that Pathfinder Fund III was structured such with US requirements in mind

Singapore fund to lend to financial institutions in emerging and developing markets
Singapore’s EFA Group is aiming to raise $100 million for a fund that will lend to banks and financial institutions in emerging and developing economies

Cairn adds two SRT funds to its roster
Cairn Capital has raised $150 million across two significant risk transfer (SRT) funds - with differing mandates - according to an announcement by the firm

Blackstone builds on multi-asset approach with fifth fund
The new vehicle will invest directly into Blackstone deals across its alternatives platform

Spanish €2.3 billion SRT referencing project finance loans suffers downgrade
A junior debt tranche in a €2.3 billion significant risk transfer originated by Banco Santander has suffered a downgrade less than a year after its launch

Ex-Citi CDO trading chief joins Jefferies as head of European fixed income
Jefferies has appointed a former Citi European credit and pre-crisis CDO trading head to lead its European fixed income business

European loan issuance set to decline in 2019, says Moody's
The outlook for European leveraged loan issuance remains strong for next year, according to report by Moody’s, although levels will depend on M&A activity

Finnish pension fund seeks portfolio administrator for illiquid investments
Finland's state pension fund is searching for a portfolio administrator to oversee its illiquid investments, which include private credit

Santander issues £1.1 billion SRT featuring UK project finance loans
Banco Santander has completed a £1.12 billion significant risk transfer through a transaction dubbed Fitzroy 2018-1 CLO

Star names join Barclays as it pushes into CLOs

Portfolio managers continue to be pessimistic on credit outlook, survey finds
A survey by the International Association of Credit Portfolio Managers states that 56% respondents believe average corporate default rates will increase over the next 12 months 

Investors eye alternative credit ahead of expected interest rate increase – report
Investments in alternative credit are set to rise among institutional investors over the next 12 months, according to an alternative credit report published by NN Investments Partners

European CLO PM rumoured to be joining CIFC from large asset manager
CIFC Asset Management looks to have made a major breakthrough in its bid to establish a European credit business with the $17 billion asset manager rumoured to be hiring the head of European performing credit at a large global credit firm

Aircraft lessors: gathering clouds lead to talk of turbulence
Aircraft leasing companies have been cruising over the past two years as passenger numbers grew, but rising interest rates and trade tariff concerns are making some bondholders nervous

Higher leverage is on the horizon - but, for now, take in the MFN sunsets
It’s clear from our analysis of most favoured nation protections and sunsets that strong demand for loans is enabling borrowers to insist on advantageous terms even as they increase leverage

Term structure is being developed for floating rate benchmark SOFR, says LSTA
The Secured Overnight Financing Rate, known as SOFR, is being developed into a term structure

Drug makers: desperately seeking pain relief
With Teva’s profitable Copaxone being undermined by cheaper alternatives, the company is in need of a pick-me-up. By Euan Hagger

Capital Four fund soft closes at €350 million
Copenhagen-based Capital Four Invest has recommended a soft close for its Luxembourg-domiciled Credit Opportunities Fund following its growth to €350 million

Aberdeen Standard Investments launches global private markets fund
Aberdeen Standard Investments has launched a £138 million Global Private Markets Fund (GPMF), which will invest in a diversified mix of private credit, private equity, real estate and infrastructure

Ironshield guards against future stress in Europe
The withdrawal of quantitative easing in Europe, coupled with rising interest rates, could lead to increased volatility and improved credit selection opportunities, especially among low-grade credits

US power generators: Falling prices spark bankruptcies
As renewables and gas undercut traditional power generators, bond holders are preparing for price shocks. By Euan Hagger