CLOs at a glance: innovations arrive as year draws to close

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

Deluxe decline leaves CLOs feeling deflated

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

CLO managers brace themselves for Acosta bankruptcy
CLOs hold $402.5 million exposure to Acosta, a sales and marketing agency that is looking likely to file for Chapter 11 bankruptcy soon. A total of $163.7 million of Acosta’s term loan left the hands of CLOs in 2019

Fund performance
A round-up of fund performance click here.

Fund performance
A round-up of fund performance

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

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

Fund performance
A round-up of fund performance

Sound Point swaps evergreen fund for drawdown
Sound Point Capital Management is dropping its evergreen distressed debt fund in favour of a vehicle that will employ a drawdown structure, as is customary for distressed strategies.

Fund performance: Mercury rises as does credit fund performance

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 managers lick their wounds with Joerns bankruptcy
Seven CLO managers hold $92.3 million exposure to US healthcare equipment businesses Joerns Woundco Holdings, which filed for Chapter 11 bankruptcy on Monday 

Fund performance

Texas pension fund looks to top up credit portfolio
Texas County & District Retirement System (TCDRS) has decided to increase by 3% its target allocation to strategic credit  

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

Credit funds at a glance

A round-up of fundraising and people moves in credit

Managers swoop on largest DIP in years
San Francisco-based Pacific Gas & Electric has tapped $5.5 billion of debtor-in-possession financing. Restructuring is likely to be fraught, but ten CLO managers have bought the loans

Payless bankruptcy steps on toes of CLOs
CLOs hold exposure to the debt of US retailer Payless ShoeSource, which filed for Chapter 11 bankruptcy earlier this week

CLO managers exposed as US mortgage lender files for bankruptcy
CLOs hold $164.9 million exposure to the debt of Ditech Holding Corporation, who refiled for Chapter 11 bankruptcy on Monday 

It’s going to be a credit picker’s market
Our panel of experts believe that the credit market will be volatile this year, but there will be opportunities in European credit and additional tier one bonds, trups CDOs and unitranches