Korean institution hunts for direct lending managers
Korea Post has launched a request for proposals in which it seeks out two managers to invest a total of $200 million into global direct lending loans  

Carmignac adds global credit Ucits strategy to its range
The fund will be co-managed by Carignac’s head of credit Pierre Verlé and fixed income fund manager Alexandre Deneuville

Mizuho looks to make return to CLO management
Mizuho is shaking up its credit business in Europe and is pushing into CLOs as both manager and arranger, according to several sources

Past Returns: Repacking in land of the rising sun
Five years ago in Creditflux, we reported that Bank of Tokyo Mitsubishi UFJ was embarking on a strategy of buying repackaged CLO triple A notes denominated in Japanese yen

Japan regulation affords CLOs breathing room
Japan’s regulators have avoided disruption of the global CLO market by softening the impact of their risk retention rules that came into effect in March

Isda tables plans to rid CDS market of narrowly tailored credit events
After lengthy deliberation, a working group of major firms is today set to publish proposals aimed at ridding the market of ‘narrowly tailored credit events’, whereby borrowers are persuaded to default on debt payments in order to trigger pay-outs for CDS holders

US dollar three-month is focus point for benchmarks, finds Ice Libor survey
One-, three- and six-month US dollar and sterling are the focus points for Ice Benchmark Administration to seek agreement with banks, according to the results of IBA’s survey on uses of Libor

US pension seek real estate debt managers
The State Universities Retirement System (SURS) has launched a real assets investment search, seeking private core, private core plus, and private non-core real estate managers, on both debt and equity  

It’s going to be a credit picker’s market
Our panel of experts believe that the credit market will be volatile this year, but there will be opportunities in European credit and additional tier one bonds, trups CDOs and unitranches

CLO market holds breath as Japan risk retention looms
Risk retention compliant US CLOs could make a comeback after the Japan Financial Services Authority (JFSA) unveiled its proposed new risk retention framework, which could tie the hands of the world’s biggest buyers of US CLOs

Central counterparties need to improve after Nasdaq Clearing member default, says Isda
Derivative central counterparties (CCPs) must look to make a number of improvements to risk practices, the International Swaps and Derivatives Association has said in a paper that follows a clearing member default at Nasdaq Clearing in September

Majority of investors seek to increase private credit allocations, BlackRock survey reveals
Over half of investors plan to increase their allocation to private credit in 2019, according to an institutional client rebalancing report published by BlackRock

Market favours retrospective over forward-looking approach to Ibor benchmark fallbacks, says Isda
New benchmark fallbacks for derivatives contracts that reference interbank offered rates are likely to be based on the “compounded setting in arrears rate” and the “historical mean/median approach to the spread adjustment”, the International Swaps and Derivatives Association has said

Norinchukin's CLO holdings jump by over 50% since March
Norinchukin’s appetite for CLOs shows no signs of relenting

Los Angeles pension backs Lone Star fund
Los Angeles Fire and Police Pension System has approved a commitment of up to $40 million to Lone Star Fund XI, according to a monthly report  

Dai-ichi anchors global infrastructure debt fund with $176 million
Asset Management One Alternative Investments has joined together with Dai-ichi Life Insurance to launch a new global infrastructure debt fund

Derivatives margin threshold should be €100 billion notional not €8 billion, says Isda
A regulatory threshold that requires counterparties to post initial margin (IM) on derivatives trades if they hold €8 billion notional or more exposure should be raised to €100 billion, the International Swaps and Derivatives Association has argued

Eaton Vance adds former Janus Henderson official as credit portfolio manager
Dónal Kinsella joins as institutional portfolio manager for the firm’s corporate credit strategies

Isda transfers credit determinations secretary role to subsidiary
The International Swaps and Derivatives Association has relinquished its role as secretary to the credit derivatives determinations committees (DCs) with the appointment of a new unit, DC Administration Services (DCAS), to manage this function

Isda extends deadline for derivatives benchmark consultation
The International Swaps and Derivatives Association has extended the fast-approaching deadline for its consultation on derivatives benchmark fallbacks, to allow more time for responses

September: credit funds at a glance
White Oak Global Advisors held a $2.1 billion final close on a new direct lending fund, while Phil Raciti's move from CVC Credit Partners to Halcyon Capital Management was one of the biggest moves in the credit industry

BlackRock becomes latest manager to explore interval fund structure for credit
Several managers have hit the market with the interval fund structure, as investors look to invest in illiquid strategies through an illiquid fund structure

Four private credit managers score as Arizona pension fund commits $250 million
The $9.78 billion pension fund has mandated nearly $250 million to four private credit managers, alongside additional commitments for co-investment opportunities 

Pimco receives nearly $400 million for ESG fixed income mandate
 An $11 billion super fund has awarded a new ESG-focused fixed income mandate to Pimco

Sovereign investors' allocation to alternative credit increase rapidly, finds survey
Sovereign investors are increasing their exposure to CLOs, direct lending and bank loans, according to a 2018 Global Sovereign Asset Management Study published by Invesco this week