November 2023 US Leveraged Highlights
Debtwire today releases the November 2023 US Leveraged Highlights, featuring key trends in the leveraged loan and high-yield bond markets

ICG taps Apollo partner as head of US liquid credit
The new head of US liquid credit has been tasked with helping grow ICG's US credit business

CLO manager raises new captive equity fund
The New York-based alternative asset manager raised a new CLO equity fund with a first close of USD 136m

Arini continues expansion with Credit Suisse hire

Credit hedge fund Arini taps former senior-level Credit Suisse executive. 

TPG buys Angelo Gordon for $2.7 billion
TPG has entered into an agreement to buy Angelo Gordon in a cash and equity deal valued at around $2.7 billion, the firm has announced

Fund performance: European CLO funds lead the way
February was a positive month for many funds, as only one quarter failed to reach the black. This builds off a stellar start to the year: 96% of funds reached a positive return in January

Fund performance: Credit funds end difficult 2022 on a positive note
In December 66% of credit funds reached a positive return, following an even better November where 81% of all funds pushed into the black

LP round up: 27 managers find the top corner with investor wins
Credit fund managers like to take it one fund at a time and give it 110% for their 90-minute investor fund pitches - and it's working as $3.8 billion was allocated during November and early December. The gaffer would be proud. 

San Bernardino pension commits $50 million to CLO fund as part of multi-credit strategic partnership
San Bernardino County Employees’ Retirement Association allocated $50 million to a CLO equity fund, as part of a roughly $240 million multi-credit strategic partnership with the manager

Structured credit gains focus from 75% of UK pensions: Aeon
Three quarters of UK pension schemes say they are increasingly focused on structured credit products

Cairn begins "new chapter" as it rebrands to Polus
Cairn Capital has been renamed Polus Capital Management, which brings it together with Bybrook Capital, the credit asset manager it acquired in 2021.  

Fund performance: Wake us up when September ends
After a resurgent August, credit markets hit a rough patch in September, with every Creditflux index posting negative returns, and only 12.9% of funds in our listings showing a positive return.

Fund performance: August provides much-needed relief for CLO funds
.August fund performance 

Apollo invests $1 billion in IG CLOs, launches secondary solutions platform and cuts BDC fees
In its earnings call, Apollo highlighted the resilience of the CLO asset class, strong deployment in direct lending, upcoming reduction in management fees for its publicly traded BDC and the launch of a new secondaries and sponsor solutions platforn, seeded by Abu Dhabi Investment Authority

Fund performance: Select funds shine in dreary June for credit hedge funds
Credit funds suffered through June, as only 8% of listed funds reached the black. This made June the fourth month in a row in which negative returns increased

Fund performance: Rocky May piles on the misery for credit hedge funds
Negative fund performance soared in May

Arcmont says liquid loan opportunities depend on timing as it advocates direct lending instead
Arcmont Asset Management has made the case for direct lending over syndicated loans in a white paper, despite having being an admirer of CLO management platforms 

Fund performance: Credit hits another bump in the road after March revival
There was more upheaval for credit funds in April, reversing the mini-recovery in March as 40% of funds made positive returns, a decrease on the 47% in March

400 Capital targets $600 million for opportunistic structured credit fund
The fund is targeting a $600 million final close next month with target net returns of 12-15%

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

Trade finance specialist sentenced to 12 years in prison for CLO and fund fraud
David Hu, the former chief investment officer of International Investment Group, has been sentenced to 12 years in prison for his role in running a “Ponzi-like scheme”, which included using a CLO to create fraudulent loans.  

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

US CLO fund wins $16 million from San Jose pension
The $5 billion pension awarded the allocation to a manager's fourth US CLO fund, having previously allocated to its second and third fund