Capital Dynamics registers debut direct lending fund
Zug-based Capital Dynamics is looking to launch Capital Dynamics US Middle Market Credit Fund after establishing a private credit business over the last 12 months

Evolving strategy takes Norinchukin close to top spot in CLO investment
Over the years, Nochu has tweaked its cov-lite stipulations, and added mid market and European CLO exposure to its CLO investments. It’s now nearly the market’s biggest investor  

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

Global head of credit correlation leaves JP Morgan to launch new hedge fund
Market sources say that a high profile figure, known to have been responsible for unwinding JP Morgan's 'London whale' positions, has left the bank to start his own hedge fund

CLO b-wic line up: equity in Apollo euro deal with low funding costs goes on sale
European CLO equity is so often described as being the most illiquid part of the global CLO market, but the last few days there has been a significant amount of trading in this area.

CLO b-wic line up: European equity makes up 85% of today's market share
European CLO equity has found a sudden burst of liquidity, albeit in bite-size pieces

MJX ventures into Europe with risk retention-compliant US CLO
MJX Asset Management priced a new issue US CLO on Friday that is compliant with European risk retention rules

CLO b-wic lineup shows it’s never too late to trade 1.0 equity
Old legacy deals make a comeback today as €37 million and $12 million of 1.0 equity is up for grabs in two European deals - Eurocredit CDO VI and Oak Hill European II - and one US deal, Gale Force 3 CLO.

CLO b-wic line-up: equity in 2.0 CLO with the lowest funding costs hits the market
It is set to be an eventful day for the secondary market as $264 million of US CLO b-wics and €35.9 million of European CLO b-wics are taking place

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

CLO b-wic line-up: over $300 million of senior CLO paper goes on the block
Senior notes dominate the secondary market today as $306.5 million worth of triple A notes are up for grabs

65% of distressed managers plan new funds over the next year, survey finds
Distressed debt is proving to be a popular strategy for managers, with 65% intending to launch a distressed strategy in the next 12 months, according to a report by Creditflux’s sister publication Debtwire and law firm Ropes & Gray.     

CLO b-wic line-up: middle market positions trickle into secondary market
CLO b-wic lineup: middle market positions and blast of double Bs flood the market

CLO b-wic line-up: 5% CLO stakes go up for sale
With US CLO risk retention a thing of the past the door has opened for managers to offload their vertical strips

CLO b-wic lineup: junior debt in Columbia CLO goes under the hammer
From triple A notes down to the equity, a bit of everything is up for grabs today

CLO b-wic line-up: $42 million of double B CLOs go up for sale
$41.9 million of double B notes are up for grabs today via b-wics. Out of these 16 line items, GSO Capital Partners’ Seneca Park is a noteworthy deal with the CLO being just two months away from the end of its reinvestment period

CLO b-wic line-up: soon to be static Euro triple As go up for sale
Fresh off the UK bank holiday yesterday, there is one CLO aution scheduled today for CLO investors interested in European triple A-rated tranches

CLO b-wic line-up: price talk circulates on CVC CLO control block
The control equity position in CVC Credit Partners’ 28 days-old reset, CVC Cordatus Loan Fund VI, is available in the secondary market today

CLO b-wic line-up: recent deals dominate secondary market
Recently priced deals have been put up for sale in the secondary market as 75.1% of today’s b-wic line-up consists of deals which have been priced (or altered) in the last 12 months

Ares emerges as favourite to take over troubled direct lending fund
Following Oaktree’s wind-down request, the board of the Ranger Direct Lending Fund has chosen Ares as replacement manager - moves which could see the fund change its focus from peer-to-peer loan investments to asset-backed loans

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

Direct lenders pile into "turbocharged" market as fundraising skyrockets: report
Growth in the direct lending market in the 12 months to 31 December was “turbocharged,” growing robustly in the fourth quarter 2017 in particular due to a consistently growing Eurozone economy, according to Deloitte

B-wic round-up: mid market CLOs find new homes in secondary market
The US secondary CLO market has had another eventful week as $908.2 million worth of CLO notes were made available, out of which $693.2 million, or 76.3%, traded successfully

EM manager crosses $2 billion fundraising mark across four debt funds
London-headquartered Ashmore Group has now raised more than $2.3 billion in total between four of its Luxembourg-domiciled emerging market debt funds, regulatory filings indicate