Apollo predicts banks will trade AMAPS notes someday
EXCLUSIVE: Apollo’s head of asset-backed finance says that Apollo’s newly-launched CLO alternative AMAPS will one day be traded by banks

‘You should hire new people into the organisation that are young, who are aggressive’
Q&A with Tony Minella, co-founder, president of Eldridge Industries & CEO of Eldridge Capital Management

Lending to nonbank entities like BDCs will be a growth area—State Street
Additionally, the firm said its investment grade private credit ETF, developed with Apollo, hit USD 800m in assets under management during the quarter

Iran War to increase corporate default rates globally — IACPM Survey
Though the credit market is absorbing new leveraged loan issuance amid geopolitical uncertainty, credit managers expect the war to drive a rise in defaults

AI risk is number one worry for credit investors – BofA
An AI bubble is the top concern for 23% of high-grade credit investors, a new Bank of America report has found

Apollo readies offensive strategy for software valuation troubles
The alternative asset manager says it’s ready to step in as a lender or even provide equity to software companies as the market anticipates  challenges from artificial intelligence

Ares to acquire systematic credit shop BlueCove
The London-based fixed income manager invests in high-yield, corporate investment grade, convertible bonds and other liquid credit assets

Apollo looks elsewhere, saying CLOs suffer from commoditization
The alternative asset manager said CLOs have tightened to levels that are unsustainable

Canadian giant PSP to deploy CAD 6bn to IG private credit
EXCLUSIVE: The allocation will focus on investment grade opportunities across infrastructure, asset-backed and structured debt financing

Credit markets have become more stable and behave differently – KKR’s Eddie O’Neill
PODCAST: The co-head of global liquid credit at KKR sees opportunities and reasons for optimism after the recent market upheaval, especially in Europe and Asia in the latest "Credit Exchange with Lisa Lee" podcast

Funds at a glance – March 2025
Leading fund – Lupus Alpha CLO Opportunity Notes I

State Street launches public-private market fund, leaning on Apollo
The new fund is designed for the US retirement channel and provides private market exposure through a pooled investment vehicle managed by Apollo

Janus Henderson highlights agency mortgages in new fixed-income ETF
John Kerschner views agency mortgages as the cheapest thing in fixed-income and has a high allocation for the new JIII ETF   

This year sees elections affecting about 49% of the world’s population
There are many reasons to fear the populist right, but markets are more scared of uncertainty

Credit hedge funds
Credit hedge fund performance

Relative to Airbus, Boeing was long accountants but short engineers
A qualitative approach can help investors spot boards that are too focused on short-term returns

US CLOs get welcome boost as major name returns to single B
CLO mangers received a welcome boost last week after S&P Global Ratings upgraded an arts and craft retailer rating to B- from CCC+- on Friday, citing “significant improvement” in operating margin and cash generation.

IACPM survey finds credit PMs still gloomy, but less so than last quarter
Respondents to the latest IACPM Credit Outlook Survey are still negative about future credit conditions, but less so than in previous surveys

Credit hedge funds
Credit hedge funds

Credit funds at a glance
Credit funds at a glance

BBVA hires ex Credit Suisse managing director
BBVA has hired a new managing director to be head of its US financial institutions group for debt capital markets

DLA Piper hires two partners for leveraged finance practice
Alan Rockwell and Heather Waters Borthwick have joined DLA Piper from Shearman & Sterling, and will both be partners based in New York. 

Canadian investment firm launches new credit fund
Mawer Investment Management has launched a new credit fund dubbed the Mawer Global Credit Opportunities Fund, which will be managed by portfolio manager Brian Carney

Muzinich launches investment-grade credit fund
Muzinich & Co. has launched the Muzinich Global Market Duration Investment Grade Fund, which will focus primarily on investing in global corporate investment grade bonds

New report finds 2023 a record year for alternative credit M&A
A new report on “Acquisitions of Alternative Credit Managers” by credit specialist Gapstow forecasts that more M&A activity lies ahead for credit firms as they struggle with the challenges facing the broader investment management industry