Antares co-founder departs from firm
This follows the departure of other co-founders in recent months 

Deutsche and Commerzbank CDS provisions amended as German protocol hits delay
The Determinations Committee has amended its statement on the seniority of Deutsche Bank and Commerzbank obligations following a delay to implementation of a German bank CDS protocol

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.  

Texas pension fund looks to top up credit portfolio
Texas County & District Retirement System (TCDRS) has decided to increase by 3% its target allocation to strategic credit  

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

New manager Resco lands ex-credit head to found advisory board
Resco Asset Management, a London based asset manager set up last year, has appointed the first of an anticipated three advisory board members

Man GLG adds credit portfolio manager in London
Man GLG has appointed a lead portfolio manager from Aventicum Capital Management

Triple B fightback has begun, says BNP Paribas
Fallen angel risk – the possibility that a wave of triple B credits could be cut by rating agencies to sub-investment grade – should begin to decline, according to strategists at BNP Paribas

Dechert adds funds partner in London office
Law firm Dechert has expanded its fund practice with the appointment of a partner from Akin Gump 

Short resets take CDS indices wider at March roll
CDX and iTraxx credit derivative indices are rolling into new series today, with short position resets taking the incoming series 31 of the Europe main index wide of where series 30 closed yesterday

Investors eye trade finance as alternative to direct lending
Institutional investors are turning their attention towards trade finance funds in a bid to reduce duration risk within their portfolios, sources say.

CDS relative value traders shift their bets as Europe trades inside US
Credit derivative markets have hit a point of position cutting and resetting, with the iTraxx Europe index having dipped inside its US counterpart CDX IG for the first time since December even as the European Central Bank’s new funding programme underwhelmed financials traders

BlackRock to merge infra and real estate platforms as key figure departs
BlackRock is restructuring its infastructure and real estate platforms into a real assets division, sources say

Isda extends German CDS protocol deadline beyond March index roll
The International Swaps & Derivatives Association (Isda) has extended the deadline for market participants to adhere to its German bank CDS protocol after it became clear a number of affected parties would not be signed up in time

Illiquid credit boost returns for PensionDanmark
PensionDanmark has generated 5.8% returns from its illiquid credit portfolio for the year 2018, according to its latest annual report published today. But its liquid credit portfolio took a 3.4% hit

US and UK sound post-Brexit derivatives regulatory accord
The US Commodity Futures Trading Commission (CFTC) and the Bank of England have issued a joint statement assuring derivative market participants of continued access to trading and clearing after the UK’s exit from the European Union

CIFC launches CLO fund with investment grade mandate
CIFC Asset Management is back in the market with yet another CLO-focused fund – this time, aimed at investment grade opportunities

Generali seeks high yield analysts in Milan as credit research head builds team
Generali Investments’ head of global credit research has relocated within the firm from Paris to Milan and is seeking hires to build a team in the Italian city

European sub-financials shake-off Santander AT1 shock, outperforming senior fins and corps
Santander’s decision yesterday not to call a €1.5 billion additional tier one (AT1) bond shocked investors in the asset class. But while this may have been expected to bring a wider reverberation of pain, investors and strategists have noted a firming up of the European financial bond sector today

HSBC boosts single name CDS and index trading with experienced hire
HSBC has added a former index trading head to its credit team in London

Deutsche plots single name CDS return and index push with two senior hires
Deutsche Bank has made two senior credit trading hires to its London office, with sources saying these portend a revival of its CDS market-making business

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

UK pension looks to take investment grade strategy global
UK pension fund National Employment Savings Trust (Nest) has issued a search for a global investment grade corporate bond manager