Basis and capital structure strategies zing for Xaia as market anomalies multiply
April was another challenging month for most funds. But some managers were able to take advantage of relative value opportunities and growing investor appetite for this form of investment strategy

Credit funds at a glance (June 2020)
A round-up of fundraising and people moves

KKR takes covid-19 hit on flagship credit funds and lev fin
KKR took a 16% hit to returns on its alternative credit flagship funds amid the first quarter coronavirus downturn and a 13% loss on leveraged credit, taking these into negative territory for the last 12 months. The firm's private equity portfolio also slumped by 12%

On-site due diligence rules pose fundraising challenge
Stipulations in some fund limited partner bylaws dictating strict due diligence could pose a challenge for asset managers, sources say

Credit funds at a glance (May 2020)
A round-up of fundraising and people moves

Axiom bets on 2002-style credit recovery with crossover fund launch
Axiom Alternative Investments is readying to launch a fund aimed at generating returns from the dislocation and revival of European and US credit as the coronavirus pandemic develops

Former JP Morgan credit prop trader relaunches credit hedge fund
Palm Lane Partners is relaunching – two years after the credit hedge fund manager looked to spin out of JP Morgan Asset Management

Axiom seeks high yield sweet spot with long-short fund
Axiom Alternative Investments is set to launch a long-short fund that will identify mispricings of high yield credit arising from the prolonged compression of spreads between different rating bands.

Axa IM launches SRT fund after record-breaking 2019
Axa Investment Managers says it has held a first close on a fund that invests in significant risk transfers

Stockholm-based firm targets CLOs, CSOs and SRTs for new fund after stellar 2019
A fund manager, established in 2018, is said to be launching its second corporate structured credit fund, sources say, after generating 20% returns last year via its debut strategy. The new fund will invest across CLOs, CSOs, SRTs and index tranches 

New EC fund rules could lead to ‘pre-pre-marketing’
The European Commission has approved a standardised concept of ‘pre-marketing’ in a move that could see more capital flow through the European Economic Area. The new definition of pre-marketing is meant to provide clarity, but some sources say that the amendments could be seen as an additional burden and lead to a concept of pre-pre-marketing.

Cairn teams with Mediobanca for European credit Ucits fund
The strategy will focus on four credit asset classes - financials, corporates, asset-backed securities and special opportunities 

Tabula launches ETF to go short iTraxx Crossover
Tabula Investment Management, a European fixed income exchange traded fund (ETF) provider, has launched a product aimed at opening up the ability to short high yield credit to a wider base of investors

Axiom launches credit derivatives fund under recent hire Henrio
Creditflux reported in October that the French asset manager was looking to launch the new credit derivatives strategy

Former BlackRock portfolio manager lands at start-up credit firm Tresidor
Tresidor Investment Management – the new credit manager led by BlackRock’s former head of European credit Michael Phelps and ex-Goldman Sachs synthetic CDO head Edgar Senior – has added a credit portfolio manager to its team ahead of its maiden fund launch

GAM launches quantitatively-managed credit Ucits fund
The new fund is anticipated to offer “strategic allocation to credit with tactical ability to reduce exposure in challenging markets”.

Cairn sheds light on single-investment SRT fund
Fresh details have emerged on Cairn Capital’s new significant risk transfer (SRT) funds with the manager informing Creditflux that Pathfinder Fund III was structured such with US requirements in mind

Cairn adds two SRT funds to its roster
Cairn Capital has raised $150 million across two significant risk transfer (SRT) funds - with differing mandates - according to an announcement by the firm

Cairn launches multi-strat fund with SRT investments in mind
Cairn Capital’s significant risk transfer (SRT) business is evolving with the firm launching a multi-strategy fund to invest in these assets

Fixed income heads join forces to launch macro credit fund manager in London
Resco Asset Management, a new asset manager based in London, has launched and set about marketing its debut fund: Resco Macro Credit Fund

Axiom puts tranches at core of push into synthetic credit
Axiom Alternative Investments is set to target both index and bespoke tranches with the launch of Axiom Synthetic Credit Opportunity Fund.

BlackRock becomes latest manager to explore interval fund structure for credit
Several managers have hit the market with the interval fund structure, as investors look to invest in illiquid strategies through an illiquid fund structure

Cheyne more than doubles assets for credit fund in five months
Cheyne Capital has more than doubled assets for Cheyne Total Return Credit Fund December 2023 – in the space of just five months

BlueBay aims to capitalise on volatility with diversified alternative credit fund
The new Icav QIAIF will invest in a range of sub-strategies including global credit alpha, global long/short, event driven credit and emerging market credit alpha

Anchorage wins $75 million ticket for global credit fund
A US pension fund has approved an investment in the upcoming Anchorage credit fund