King Street wins Saudi backing for new Middle East-focused private credit fund
A new credit fund will seek to provide private capital solutions to corporates and to conduct asset-based lending within Saudi Arabia and MENA

Oklahoma system allocates USD 1.3bn as others set 2026 targets
OTRS commits USD 1.3bn to Blackstone, KKR private credit funds, while Los Angeles, New Hampshire, San Antonio pensions disclose recent moves

King Street debuts new long/short credit UCITS fund
The fund launched on International Asset Management’s UCITS platform with USD 100m in commitments

Investors optimistic, bullish on European structured credit – BofA, King Street, Blackstone, Federated Hermes
PODCAST: Credit Exchange with Lisa Lee catches up with Bank of America's Alex Batchvarov, King Street's Young Choi, Blackstone's Alex Leonard and Federated Hermes' Andrew Lennox at the Global ABS conference in Barcelona

King Street, Generali Investments launch opportunistic credit fund for affluent Europeans
The fund will offer investments beyond traditional direct lending, offering investors access to corporate and asset-based lending, dislocated public credit, and some distressed situations

King Street launches special situation fund open to individual investors
The asset manager plans for the fund to have around USD 1bn in assets under management.  

King Street bolsters CLO research ranks with hire from KKR
Alternative asset manager King Street has hired Terry Ing from KKR to head US research for credit and CLOs    

Taconic adds CMBS specialist to team in New York
Taconic Capital has boosted its CMBS business with an experienced hire

Rockford Tower turns to CBOs in first deal of year
Rockford Tower Capital Management made the transition from regular-way CLOs into bond-heavy deals by pricing its debut transaction on Thursday

Migration into floating rate kicks off with record loan inflows
The leveraged loan market received record-breaking inflows from retail funds in January as investors pivoted into floating rate products in advance of interest rate rises

Credit Fundraising: Blue Owl and WhiteHorse gain from improving animal spirits
Fundraising perked up in July as managers raised $14.9 billion for credit funds - the third highest monthly amount this year

Credit funds at a glance (August 2021)
A round up of fundraising and people moves in credit

King Street raises $1.2 billion for first global credit drawdown fund
The fund will target distressed and stressed corporate debt, structured products, and asset-backed investments, as well as claims and claim-related opportunities

CMBS market picks hotels for bright summer ahead
CMBS and RMBS markets are set to be among the biggest beneficiaries as the US economy opens up in the latter half of this year, but market participants caution that there will be bifurcation in certain sectors

Rockford Tower prices US CLO triple As inside 117bp
Rockford Tower Capital Management teamed with Bank of America on Thursday to issue its third new CLO of 2021

CLO marketing specialist joins King Street in New York
King Street Capital has hired the head of business development from a large CLO investor

Rockford Tower and Credit Suisse print first CLO as partnership
Rockford Tower Capital Management teamed up with Credit Suisse on Friday for the two firms' first ever new issue CLO as partnership

Supply/demand technical forces CLO spreads to shoot wide
CLO spreads defied positive economic conditions and blew out in March and April. The widening came despite ample liquidity and investors looking to rotate into floating rate assets

ESG factors show up in leveraged loan pricing in US
Environmental, social, and corporate governance factors are filtering through to the US CLO market and influencing loan prices

Credit Rendezvous: ready and waiting
In Creditflux's quarterly review of credit, portfolio managers tell us that Inflation is likely to nudge higher but they are optimistic because dispersion will pick up and windows of volatility will emerge, rather than elongated phases of stress 

Credit fundraising: ESG centre stage as capital pours into new strategies
Sustainability was the watchword for fundraising in February, amid a flurry of fund launches as well as first closes for impact funds and sustainable bond funds

CLO pipeline: 15 managers make a final push
15 US CLO managers are in the near term pipeline with just a few days before primary markets close for the holiday season. Among these, nine are aiming to price a new deal while the rest include a reissue, a reset and four refinancings.

CLO pipeline: LCM switches arranger to complete deal and join issuance surge
Over $3.5 billion of global CLO issuance priced last week and managers in all three CLO markets are taking advantage of tightening spreads across the capital structure after three major covid-19 vaccine breakthroughs and increased confidence since the US presidential election

LP round up: Connecticut eyes Fortress for private credit partnership
Investors placed $3.3 billion across 26 credit mandates over the past fortnight, according to documents seen by Creditflux 

Rockford Tower CLO fails to meet effective date requirements
A 2019 CLO managed by Rockford Tower Capital Management has failed to meet requirements relating to its effective date on 22 June due to breaching its Moody's weighted average rating factor test