September 2023 US Leveraged Highlights
Refinancing continues to amplify leveraged debt volume in Debtwire's latest report featuring key trends in the leveraged loan and high-yield bond market

AllianceBernstein wins mandate for New Mexico high-yield strategy
The State of New Mexico State Investment Council named AllianceBernstein as the new manager of its short-term high yield strategy during its 26 September meeting

Fund performance
Positive August for credit sees CLO funds on top again

Credit funds at a glance
Ucits see red in a tough June for returns

Testing the water: issuers gauge sterling HY bond demand following 10-year record low
Pure Gym, a UK-based fitness club, has become the second company in a week to test demand for sterling-denominated senior secured notes in the European high-yield market

New York-based asset manager launches floating-rate credit fund
EUR 30m fund focuses on floating-rate debt investments

RiverRock secures €153 million in commitments for new senior loan fund

RiverRock sets €1 billion commitment target for latest fund, nearly double the size of its previous vintage

Credit funds at a glance (September 2023)
A round-up of people moves and fund raising  

Credit hedge fund returns (September 2023)
Credit hedge fund returns  

CLO funds are hot in summer as they take nine spots in top 10 (Fund performance)
CLO funds took the lead through summer as the returns of the category index reached 1.88% and 3.18% in June and July, respectively. Both months saw a CLO fund as the top performer — Sound Point Meridian in June, and Oxford Gate Master Fund in July.

CSAM loses senior credit portfolio manager
Credit Suisse Asset Management rearranges its asset management team after long-time bond fund manager exits

Walleye Capital adds credit volatility portfolio manager from Squarepoint Capital

Minnesota-headquartered Walleye Capital has hired a new portfolio manager specializing in credit volatility

Santander taps Credit Suisse dealmaker

Santander Corporate and Investment Banking hires new managing director from Credit Suisse

Refinancing continues to dominate headline figures in latest European leveraged highlights
Debtwire has released its July 2023 European Leveraged Highlights, containing key trends in the leveraged loan and high-yield bond markets

Neuberger Berman secures £2 billion mandate for credit fund
One of the UK's largest pension funds has awarded Neuberger Berman a £2 billion mandate for credit

Australia's largest super fund beefs up international team
Australia's largest pension fund is is growing its team across other geographies in an effort to increase its international presence

New York Life Investments taps member of Jefferies credit team

New York Life Investments has hired a member of the Jefferies Credit Partners loans team as director of high yield and leveraged loans

Hayfin Capital Management beefs up high-yield and syndicated loans team

Hayfin Capital Management has hired a new head of high yield and syndicated loans trading from Capital Asset Solutions

Edmond de Rothschild adds new co-manager to credit fund

Edmond de Rothschild adds additional fund manager to credit fund. 

DebtDynamics North America: Likely-to-distress scores highlight struggling industries
Out of a universe of more than 12,000 leveraged US companies, 180 are in the stressed/distressed lifecycle categories

Primary loan and bond markets shows signs of revival, but at a cost
Activity in the US junk debt market has picked up after the 4th of July and the momentum is expected to continue through 2H23, but at a cost for issuers.

Asset management firm creates new credit platform
Insurance and asset management firm Nassau launches new credit platform with more than $8 billion in assets under management. 

Australian fund manager adds new credit PM
Australian fund manager IAM has branched into opportunistic credit with the acquisition of the River Capital Liquid Credit Fund and credit mandate, which includes a move for the fund’s portfolio manager.

June 2023 US Leveraged Highlights
Debtwire has released the June 2023 US Leveraged Highlights, featuring key trends in the leveraged loan and high yield bond markets.

Refinancing and extensions dominate European debt issuance and hit highest share in a decade
With the highest interest rates in the Eurozone since the Global Financial Crisis, the European leveraged finance market has been dominated by companies that need to refinance or extend their deals.