Investcorp adds fund placement business as it brings Mercury buyout to the boil
The transaction for the alternatives placement agent will help “serve investors worldwide with an array of attractive opportunities in alternative investments”, says Investcorp

Ares hires Natixis deputy CEO for the Americas to credit investing role
Ares Management has poached the Americas deputy chief executive officer from Natixis's investment banking business

Credit traders' kickstand: widening catalysts gather force with focus on financials
Credit markets are once again ending the week on a negative tone, having regained some posture over previous sessions following last week’s tariff-driven sell-off. Credit index spreads appear inclined to trade within a range, but potential catalysts for that range to shift wider outweigh any obvious reasons to return to the tight prints of last month

New investments drive Canada Pension Plan’s credit returns to 8.7%
Canada Pension Plan Investment Board (CPPIB)’s credit portfolio has delivered good returns during the 2019 fiscal year, despite the market volatility, according to the institution’s annual financial report  

Connecticut pension eyes investment in Clearlake fund
The State of Connecticut Retirement Plans and Trust Fund is considering a $75 million commitment to Clearlake Opportunities Partners II  

Credit traders' kickstand: Trump gives Europe the ghoulies as single B spectres haunt CLOs
Trade tariff terrors and things that go triple C rated in the night are top of the list of items spooking credit market sentiment at the end of this week

Ice seeks consensus with credit risk analytics service
Intercontinental Exchange (Ice) has launched ICE Credit Risk, a suite of analytics it will provide in collaboration with financial risk assessment company Credit Benchmark

Louisiana pension allocates $150 million to US credit funds
The Teachers' Retirement System of Louisiana has committed to Torchlight Debt Opportunity Fund VI and Summit Partners Credit III, a spokesperson for the pension fund has confirmed  

Highland names new co-CIO
Highland Capital Management has promoted its global equity trading head to co-CIO, as former co-CIO is named co-head of private equity 

High yield bonds regain lost ground

Gateway sees an opening for CDOs with flexible mandates
Gateway Credit Partners is taking an unconventional route towards building a corporate credit management platform by creating its business around CDOs

Investors back multi-asset funds for high yield gains
Multi-asset funds that include credit have become popular among institutional investors.

Fund performance
A round-up of fund performance

Credit Suisse adds special situations trading head among raft of hires
Credit Suisse has continued to build momentum in its credit business with the hire of a managing director to head special situations and loan trading with its Europe, Middle East and Africa credit products business, following on from nine others across its London and New York credit business

US pension fund to commit $1.1 billion in private credit by 2020
Investment consultant NEPC has recommended that Arizona Public Safety Personnel Retirement System (PSPRS) commit $550 million in private credit in both 2019 and 2020, according to a private credit review  

TwentyFour boosts credit team with New York analyst hire
TwentyFour Asset Management has added to its bond team

Merian drops Janus Henderson from bond fund previously managed by Bill Gross
Merian Global Investors has taken management of Merian Total Return USD Bond Fund in-house

16% of insurers plan CLO allocation increase, survey finds
Goldman Sachs Asset Management has released its annual insurance asset management survey

Blackstone follows in footsteps of KKR and Ares by converting to corporation
The conversion is anticipated to be effective from 1 July

Chicago pension fund seeks fixed income managers
Policemen's Annuity and Benefit Fund of Chicago (PABF) has launched two requests for proposals (RFPs) searching managers for its core fixed income and core fixed income portfolios.  

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

CQS names CEO for its US business
CQS Asset Management has appointed Michel Brogard as chief executive officer of the firm’s US business

Shenkman targets $500 million for opportunistic credit fund
Shenkman’s opportunistic fund will aim to take advantage of the volatility in the market

Moving on from the late 2018 hangover
It might be too early to call a full recovery, but it’s fair to say that the US loan market is back on track with $48 billion of institutional issuance in 2019 — 88% of which is made up of new issues

Windstream CDS settles higher than expected amid big physical settlement orders
Windstream Services CDS contracts have settled at a final price of 29.5, presenting a big pay-out for holders of protection but not quite as rewarding as bond levels had projected