PineBridge collects $1.7 billion for second US direct lending strategy
The fundraise brings PineBridge’s private credit assets under management to $3.3 billion

Direct lenders look to support venture backed businesses
European direct lenders are exploring deal transactions based on annual recurring revenue (ARR) financings, according to market sources

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

ESG template fires up hopes of CSO issuance
2021 may not have been a year of big volume in the synthetic bespoke market, but primary business is back, and decisive inroads into environmental, social and governance (ESG)-focused issuance bode well for 2022

First Euro CRE CLO points to likely growth market
CRE CLOs have been identified as a likely growth market in Europe following the successful pricing of the first transaction on the continent, according to sources

Lev loan index rule change proposed to meet Sofr switch
Leveraged loan index stakeholders are being asked for feedback on a proposal that would allow the inclusion of loans linked to Sofr and scrap a minimum spread rule

Firm claims to cut loan settlement times with blockchain based securitisation
Cadeia, a German technology firm, claims to have undertaken the first ever fully blockchain based corporate loan securitisation transaction

Muzinich adds UK and Ireland institutional sales head
Muzinich & Co has hired a head institutional sales for the UK and Ireland

Ex-Citi structured products co-head launches crypto investment firm
Citi's former structured products trading co-head has launched a venture investment firm for crypto companies, digital assets and blockchain protocols with an inaugural $1.5 billion multi-strategy venture

Loans will be winners in bearish year for credit: BNP Paribas
Floating rate loans are best positioned for a year of widening credit spreads, but high yield bonds will outperform investment grade and EM credit is set for losses, says BNP Paribas in its 2022 outlook

Citadel promotes credit head to co-CIO
Citadel has promoted its global credit head to co-chief investment officer

There's still time to pick up pennies in credit before steamroller arrives: BNP Paribas
Declining dealer inventories, rising fund cash balances, and a greater prevalence of hedging have added up to produce a credit market that is positioned too short, according to BNP Paribas strategists

Zais and BNP Paribas strike ESG breakthrough with climate change CSO
The growing theme of environmental, social and governance standards helping to revitalise the market for collateralised synthetic obligations appears to have taken a big step forward, with Zais Group and BNP Paribas partnering on a first-of-its-kind deal that could lay a template for future transactions

Barrow Hanley makes first move in CLOs
Barrow Hanley Global Investors has unveiled plans to launch its first 'CLO fund' in the coming weeks, with suggestions that CLO issuance will follow 

Rising stars will fuel double B boom, says BofA
A rising star cycle is underway and adds to a bullish outlook for double B credits with company results pointing to an ‘epic V-shaped recovery’ in high yield revenues and earnings, say Bank of America credit strategists

Triple Bs gain momentum as IG buyers pick best spots
The absolute tightness of credit spreads has led many to lament their chances of delivering strong returns in 2021, while stressing the need to move down either the quality or duration curve. But even within investment grade, European and US managers are still finding pockets of value

Credit Rendezvous: And breathe...
The unanimous verdict is that credit spreads will be moving wider – they have to. But the difficulty credit fund managers face is predicting when the next sell-off comes and how sharp it will be. In the Q3 instalment of Creditflux’s Credit Rendezvous, the over-riding message from portfolio managers is that there’s little point in taking on too much risk. The report features the views of prominent credit figures including Paul Horvath (Orchard), Himani Trivedi (Nuveen), Ronnie Jaber (Onex), Graham Rainbow (Alcentra) and Michelle Russell-Dowe (Schroders). The report looks at 14 segments of the market including CLOs, direct lending, leveraged loans, distressed debt and credit derivatives.  

Golub deal volume hits record $9 billion in Q2
Golub Capital says the second quarter was its most productive ever in terms of deal origination

US loan managers capture secondary opportunities as new issues struggle
US loan managers switched gears by sourcing loans in the secondary market in the second quarter. This came as pricing in the primary market became less attractive in the early part of Q2 and with new loan issuance slowing in May and June

Fair Oaks scoops up two control CLO equity positions
Fair Oaks Capital has been picking up primary CLO equity paper, with the firm announcing a further two control US CLO equity investments in its publicly listed fund, Fair Oaks Income Fund

Novicap tech platform targets credit investors with fundraising drive
Novicap, a fintech company offering working capital optimisation solutions to SMEs and mid-market corporates, is looking to debt capital markets participants such as credit and structured credit funds, asset managers, pension companies and insurers as it seeks to raise third-party funding for its credit platform

Carlyle senior credit investor joins fintech firm as CFO
An experienced credit investment professional at the Carlyle Group has moved to become chief financial officer at fintech company NoviCap

Travel company CDS soars wider as bond issue converts to concern
TUI, the Anglo-German travel operator, is under pressure in credit and equity markets just it has launched an offering of convertible bonds

It's all relative: CLO spreads explore record tights as credit indices hit impasse
CLO spreads are grinding to ever tighter levels, despite a flattish week for credit in which corporate credit indices have ended up more or less unchanged

Direct lenders say coronavirus storm enables them to show benefits of bespoke lending
European credit managers are bracing themselves for setbacks after a new set of lockdown and curfew measures kicked off 2021 on the continent