Pitching your structured credit fund: the three golden rules
Structured credit fund managers were given a lesson in how to market their strategies by a group of asset allocators at the Creditflux CLO Summit in New York.

CLOs wrestle back control of the European loan market
The share of European loans bought by CLOs is now larger than those acquired by loan managed accounts and hedge funds, according to a research paper by Barclays.

CSAM launches first commingled fund geared towards CLOs
Credit Suisse Asset Management has launched its inaugural CLO equity fund, according to market sources, collecting nearly $150 million on a first close for the strategy

LibreMax wins $200 million for structured credit managed account
The managed account will target 10 to 40 investments across a range of different strategies including CLOs, consumer, residential, commercial and regulatory capital.

BlueBay launches CLO fund with seed capital from parent RBC
Sources say the strategy launched earlier this year via an Irish fund structure with seed capital provided by BlueBay’s parent company, RBC

Orchard targets CLO investments in fruitful year of fundraising
Orchard Global Asset Management is in the process of fundraising for its first CLO focussed fund, according to market sources. The firm is targeting the global CLO market and looking across the capital stack.

Russell and Mediobanca launch multi-asset fund with CLO allocation
Mediobanca Private Banking has joined forces with Russell Investments to set up a fund that has a 20% allocation to credit, sources say  

Fair Oaks launches new fund targeting senior CLO paper
Fair Oaks Capital has launched a Ucits fund targeting triple and double A CLOs, according to market sources

Connection backs European CLO fund
Connection Capital has invested €5.2 million in the new CLO fund raised by Permira Debt Managers  

Permira launches European CLO fund and starts with secondary market investments
Permira Debt Managers has closed its fifth structured credit fund, Sigma V, which will invest in junior tranches of European CLOs

Apollo fee earnings rise 9% in Q2 as structured credit boosts portfolio
Apollo Global Management’s credit portfolio increased 4% quarter-over-quarter to $201 billion, driven by growth in affiliated life insurance firm Athene, as well as corporate credit and structured credit

A challenging environment

Credit plays a big part as KKR increases AUM by $6.5 billion
KKR grew its assets under management by 8% over the second quarter, according to the firm’s earnings call, which took place on Thursday.

Alcentra reaches €5.5 billion close for European direct lending fund
Alcentra says that it has raised €5.5 billion for its latest European direct lending strategy

Spotlighting the original originator
Five years ago in Creditflux, we reported on the very first CLO originator fund being launched: Blackstone/GSO Corporate Funding.

Credit funds at a glance

A round-up of fundraising and people moves in credit

CLOs at a glance
Managers focus on AUM building via new issues

CIFC launches its first CLO Ucits fund
CIFC Asset Management has become the latest manager to launch a new CLO Ucits fund

Head of European private debt Bone earns promotion at Partners
Partners Group’s head of private debt in Europe, Christopher Bone, has been promoted to partner as one of 10 senior-level promotions announced by the firm

Muzinich aims to take granular portfolio tactic across Europe
Muzinich has put together what it describes as a “direct lending 2.0” strategy, which it anticipates will serve as a solution to the constraints faced by middle market lenders in Europe. The firm launched the Italian version of the strategy in November via its Italian subsidiary Springrowth SGR and is looking to create follow-ups in other European jurisdictions

Blackstone builds on multi-asset approach with fifth fund
The new vehicle will invest directly into Blackstone deals across its alternatives platform

Silverpeak looks to put together listed CLO equity fund
Silverpeak's CLO-focused fund will primarily invest in CLO equity and be listed on the New York Stock Exchange

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

CLO Ucits funds take off despite investment limits
CLO investors are swarming over the Ucits fund market, despite the obvious regulatory headwinds and stringent liquidity requirements associated with these structures

Oaktree raises new special situations fund while CIO warns of direct lending risk
Oaktree Capital Management has released its second quarter 2018 results in which the Los Angeles-based firm reported $2.4 billion of new capital commitments in the quarter