Partners nears $100 billion in AUM as CLOs drive private debt growth
Swiss manager Partners Group has reached $94.1 billion in assets under management, with CLOs boosting the firm’s growth, according to its 2019 annual results  

CSO arrangers look to build on $65bn of issuance in 2019
The synthetic bespoke tranche market this year has fallen short of expectations in terms of overall issuance volume, but ends with transformative inroads being made.

Falling correlation reignites passion for index tranche trades
Dispersion in the global corporate credit market is rekindling interest in correlation trading, with dealer sources reporting that a late surge lifted 2019 index tranche volumes to $250 billion.

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.

Ucits at a glance: Ucits continue to chart a steady course

Ucits at a glance: ucits continue to chart a steady course

Beware of "mequity" risk in direct lending, writes Barings
Barings co-head of global private finance, Ian Fowler, predicts that the adoption of lending terms associated with broadly syndicated loans into private credit will not prove beneficial in the long term

Permira hit by downgrades in direct lending portfolio but maintains leverage facility ratings
Permira Credit Solutions II's largest asset holding, which represents 17% of the fund, was downgraded from B to D, according to Arc Ratings. Another was downgraded from CCC+ to CCC

West coast pension looks to step up direct lending allocations
The City of Fresno Retirement System will commit $140-160 million to private credit for the next two years, according to board documentation seen by Creditflux. This comes amid a pause in direct lending commitments for the pension fund, which has not committed any capital to this market in 2019

Canadian pension awards €300 million to middle market real estate debt
Canada Pension Plan Investment Board (CPPIB) has awarded €300 million to a separately managed account focused on real estate across Spain and Portugal. The pension fund did not name who this partnership was with 

Ucits at a glance
A round-up of ucits fund performance

Green bonds and international credit deliver double-digit returns for Swedish pension
Second Swedish National Pension Fund (AP2) reached SEK 367.4 billion in the first half of 2019, with investments in fixed income generating double-digit returns, according to its half year report  

Ucits at a glance: Amundi and Loomis Sayles funds register big gains in H1

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.

Creditflux and Debtwire unveil second European Direct Lending Perspectives report
Creditflux and its Acuris stablemate Debtwire have joined forces to produce their second European Direct Lending Perspectives, a report that sheds light on the biggest trends from Q1

GSO adds $10 billion to inflows with direct lending, structured credit and energy
Blackstone grew its credit assets under management to $139.3 billion, up 13% on a year ago, according to the firm's second quarter earnings release

Calpers misses returns target despite fixed income outperformance
California Public Employees' Retirement System (Calpers) has missed its annual investment target despite strong performance from its fixed income portfolio, which was its top performer  

Direct lenders pin hopes on ESG as risk management tool
Strategies geared towards environmental, social and governance (ESG) may have originally been popularised at the behest of pension funds seeking responsible investments, but there are growing hopes that incorporating ESG will help fund managers outperform in a downturn.

Robus lifts soft-close from credit fund after capitalising on late-2018 correction
The soft close for Robus Mid-Market Value Bond Fund has been in place since October 2017

Danish pension fund eyes niche credit opportunities
PensionDanmark is preparing for more volatility in 2019 by casting its eye towards niche opportunities in the special situations and distressed debt market. The Copenhagen-based pension fund last month merged its alternatives and private debt platforms

Leveraged loans pose credit risk but not systemic risk, conference told
Regulators and the press need to understand the difference between credit risk and systemic risk, claimed panelists at the IMN European CLOs and Leveraged Loans conference

Regulation stifles SRTs, but banks and investors revel in quarter-four outperformance
Over the course of 2018 there was roughly €6.5 billion of issuance in the market for significant risk transfer (SRT) deals, sources say, with the last three months understood to be the busiest quarter on record

Demonised triple Bs could outshine angelic neighbours
There has been a stampede to denounce triple B corporate credit, but investors ditching this rating band may not only miss solid returns but find bigger problems up the spectrum, investors and analysts tell Creditflux.

AT1s should be highly valued, not feared
Additional tier one (AT1) bonds stand out as a rich source of value this year, say portfolio managers, despite the shock headlines generated mid-February by Santander’s decision not to call a €1.5 billion note