European CLO round-up: Carlyle and Investcorp share reset record
Much like its counterpart in US, the European CLO market is off to a speedy start with two resets and a refi – generating total volumes of €1.5 billion

Morgan Stanley's fixed income sales dramatically dip in Q4 earnings report
Morgan Stanley's sales and trading net revenues took a dip in 2017, with fixed income net revenues in particular down 31% compared to 2016 figures

Euro league tables: Citi tops rankings in a year of growth for the CLO market
50 new issue CLOs, 39 active managers and four debutants: Creditflux analyses the revival of the European CLO market last year

European direct lending up 34% in recent quarter: Deloitte report
Direct lending in Europe continues to boom, according to the latest Deloitte deal tracker, which found a 34% growth of direct lending deals in third quarter 2017 alone compared to third quarter 2016

Trailblazing ethical investment fund from Rathbones passes £1 billion
Well before ESG (environmental, social and governance) investing became a buzzword, a Rathbones-managed fund was investing in ethical companies. Now that vehicle – Rathbone Ethical Bond fund – has passed £1.03 billion

Credit markets ignore geopolitical exposures, suggests Guggenheim
Global credit spreads have spent 2017 tightening, but markets may be ignoring certain risks, according to Anne Walsh, chief investment officer for Guggenheim’s fixed income unit

PDM liquidates CLO funds after 20% per year returns
Permira Debt Managers is liquidating two structured credit funds after generating strong returns

Investors nod through wind up of 1.0 euro CLOs
CLOs may have weathered the storm of the financial crisis far better than other structured products, but the tally of CLO defaults is quietly growing

They said it: the dangers of corporate finance
Cairn Capital's Asif Godall gives his take on companies that don't have a deleveraging plan

Engineering and construction: diversification leads to deepening debt
In trying to build a more global roster of clients, some construction companies may have dug a hole for themselves

Private debt performance shines in institutional investing study
A quarter of institutional investors say private debt outperformed their expectations over 12 months to 28 August 2017

Hedge fund with US and UK offices to shutter following poor performance
The New York-based firm, which invested in a range of strategies including long/short liquid credit, is shutting down and returning all capital to investors

Going short IG against the ECB will eventually pay off
Chenavari’s Demian Brasil takes our credit quiz

CLO managers return to new issues
The frenetic pace of refis and resets slowed in the third quarter as CLO managers – new and old – turned their attention to building assets

New European credit firm hires investor relations head from CQS after strong start
A recently-launched fund manager has hired from CQS after raising roughly €100 million for its debut credit opps fund

Marathon fund doubles assets in six months
Marathon's Emerging Markets Bond Fund substantially increased its assets between March and September – more than doubling its AUM, according to estimated figures

Euro CLO round-up: KKR Credit prices record-setting CLO
Times are good for European CLO managers (on the liability side of things at least) with CLO spreads as tight as they have been since the rebirth of the market in 2013

Euro CLO round-up: innovators and renovators rip out floors and refurbish deals
Barings and Cairn entered the CLO refi market this week to produce two transactions that will be remembered as pioneers in their field

2017 PGIM deal tops ranking of best-performing European CLOs
A PGIM-managed 2017 deal, Dryden 48 Euro CLO, made its first equity distribution in August, with the €6 million payment pushing the deal to the top of our CLO performance rankings for the month

Axa unwinds short-maturity CLO fund as 1.0 universe dwindles
Axa Investment Managers has recently wound down a fund designed to take advantage of a short-term opportunity in ageing CLO debt tranches

Marathon leads the pack to top US CLO performance tables
Recently refinanced CLOs top our ranking of the deals with the highest equity distributions over the last week with Marathon Asset Management leading the way

Apollo notches up 100% CLO refi/reset record
It’s not easy being a large CLO manager and staying on top of the refi-reset market, but Apollo has managed to do just that

Join the debate: CLO ramp-up failings
“There is one manager out there that has got away with this behaviour for several years. The ‘fight back’ from investors is overdue”

CLO boom encourages new ideas
Volumes are up, spreads are down and risk retention is a doddle. That must mean it’s time to push the boat out and innovate

Spotlight: Local exchange carriers - calling for rescue on the M&A hotline
Growth-starved US phone companies are seeing consolidation as the best way to improve performance