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

Credit funds at a glance
A round-up of fundraising and people moves in credit

CLOs at a glance
A round-up of CLO performance

Bardin Hill CLO double B tranche downgraded to Caa1 by Moody's
Moody’s has downgraded the class E notes of Bardin Hill’s CLO, Halcyon Loan Advisors Funding 2013-2, to Caa1, the agency has announced

For enhanced CLOs to outperform, investors need the credit cycle to turn — and quickly
If the current credit cycle doesn’t end within two years, triple C-heavy CLOs will not see a return on their high financing costs

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

Loan shocks give 2018 warehouses yet another scare
The recent sell-off in loans could be an unwelcome development for long-dated CLO warehouses, which may have thought they were over the worst after a testing Q1. 

CLOs at a glance

A round-up of CLO performance

Credit funds at a glance
A round-up of fundraising and people moves in credit

Fund performance
A round-up of fund performance

One day, two investors, three CLO controlling stakes in secondary
Two investors are inviting bids for anchor positions they hold in three CLOs.

Carlyle CLO warehouse investment results in 26.7% return for South Korean firm
A CLO warehouse investment in a transaction managed by Carlyle Group has generated a $1.3 million return for Seoul-based Tiger Alternative Investors, according to a report in The Korea Economic Daily

Janus Henderson increases position in CLO Ucits fund
The London-based manager says that, while it has cut exposure to CLO funds, this one has has a more conservative nature 

CLO managers suffer puncture with $85 million of Jack Cooper debt
CLO managers hold $85.8 million of exposure to auto hauler Jack Cooper Ventures, which filed for Chapter 11 bankruptcy, according to the latest trustee reports from CLO-i 

Och-Ziff revenue tumbles despite inflows to credit funds and CLOs
Och-Ziff Capital Management posted a net loss of $8.6 million in the second quarter, which it blamed on the market’s reaction to US China trade tensions and the US Federal Reserve’s twist of monetary policy

Enhanced CLOs are no more enhancing than run-of-the-mill distressed funds
Triple C-heavy CLOs that try to time the market may be paying for options they never use

US CLOs thrive as managers embrace secondary loan market
Leveraged loan issuance is supposed to feed and keep CLOs healthy, but a 62% slowdown in US loan volumes this year was accompanied by average CLO equity distributions ticking 19% higher.

Considering the variables over the life of a CLO, a drop in Libor is a relatively modest risk
Changes in Libor do not have a major impact on CLO equity cash flows or equity yields

Fund performance: Mercury rises as does credit fund performance

CLOs at a glance
A round-up of CLO performance

Philadelphia Energy bankruptcy tars nine CLO managers with $241 million exposure
The Philadelphia-headquartered company has entered into bankruptcy protection for a second time, having only emerged from its first filing in August

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.

NEPC flags caution on leveraged loans and private credit
Private credit does not provide enough returns for the risk, according to the advisor to institutional investors

Clover Tech cov-lite loan blots CLOs after spilling a third of its value
The past week’s biggest declining loan by some way, for printing cartridge maker Clover Technologies (aka 4L Technology), is a worry for CLO portfolios as some 21 managers hold the name, according to CLO-i

CLO investor looks to offload US and European anchor equity positions
There are two controlling CLO equity stakes up for sale today with a 2017 European deal and a reissued US transaction going under the hammer