Credit hits new wides as US and Europe ramp up coronavirus battle plans
An emergency weekend rate cut by the US Federal Reserve as well as population lockdowns in France and Spain underscore that measures of economic risk have moved to a more systemic level as world governments scramble to deal with the impact of the coronavirus outbreak

CLO investor leaves US structured credit specialist
A CLO tranche portfolio manager has left a fund manager in order to manage his family office

Kissick and make up: Ares replaces board member
Ares Management has appointe a replacement to its board of directors as retired Ares co-founder John Kissick steps down

CLO running financing costs plummet as East West prices debut deal
East West Investment Management has priced its debut US CLO and taken an unconventional approach in doing so with sources indicating that the firm has retained much of the debt in its deal

The manager, not the market, decides value in direct lending
Mid market loan spreads are contracting, but that’s a reflection of low volatility not excess cash

If you can stomach volatility, CLO equity is very attractive

Global CLO b-wic round-up: 71% of equity positions trade as supply picks up
The European and US secondary CLO market took a step back this week as the primary CLO generated $7.8 billion of deal flow globally

Guggenheim hires Citi ABS trading head to structured syndicate desk
Guggenheim Securities has replaced its recently departed co-head of structured product syndicate with an experienced hire

Axa IM finds replacement for top fixed income role
Axa Investment Managers has appointed Christophe Herpet as global head of Axa fixed income and its buy and maintain division

GSO makes big hire to co-lead distressed investing
Blackstone's credit platform has appointed an ex-Goldman Sachs official to co-lead its distressed debt business 

Ostrum appoints structured credit head as it looks to issue US CLOs
The market has found a plethora of CLO managers looking to expand in Europe, but Ostrum Asset Management has gone the other way by hiring an experienced US CLO portfolio manager

Morgan Stanley grows direct lending arm in New York with two hires
The bank has added a second hire to its private debt team having appointed an ex-Carlyle official to a newly created role as head of direct lending 

Former Ares partner takes on head of structured products role at Sound Point (correction)
A figure with more than 20 years of experience in CDO and CLO markets has resurfaced at Sound Point in New York 

You can’t time everything 100% correctly, but being too early can be a mistake
ArrowMark's Kaelyn Abrell takes our credit quiz

AIG CLO comeback gathers pace as it plans second pricing in two months
AIG Asset Management is working with Wells Fargo to price a $507.2 million new issue CLO named AIG CLO 2019-1

$1.8 billion manager Shelton buys credit manager Cedar Ridge
The $1.85 billion multi-asset manager has bought credit-focused firm Cedar Ridge Partners

Three US managers capitalise on loan volatility to price new CLOs
It’s late in the year, but loan market volatility seems to be presenting CLO managers with ideal circumstances in which to ramp up portfolios and price deals

New Mexico allocates $175 million to credit
New Mexico State Investment Council has awarded a $75 million commitment to real estate debt and $100 million commitment to a multi-credit fund

New Energy seeks to fuel second credit fund with $400 million
New Energy Capital is looking to raise $400 million for its second infrastructure credit fund, according to US regulatory filings

Baker McKenzie adds two global finance partners in London office
Global law firm Baker McKenzie has bolstered its finance team with the addition of two partners in the London office

The perception of liquidity is often not the same as the reality
Investec Asset Management's Jeff Boswell takes our credit quiz and discusses liquidity in Europe, the former "darling of the European debt market" Vivarte and the Matrix

US manager plans debut 2.0 European CLO, six years after selling 1.0 deals
A large US CLO manager is warehousing its first 2.0 CLO in Europe

CIFC's Vaccaro takes over as sole CEO as Wriedt makes abrupt departure
Steve Vaccaro has been appointed sole chief executive officer of CIFC Asset Management following the departure of co-CEO Oliver Wriedt

Fulcrum launches new multi-strat fund with daily liquidity
Fulcrum Asset Management has launched TM Fulcrum Diversified Liquid Alternatives Fund, which will invest across real assets, alternative credit and diversifiers

Making it to the top: women reflect on changes in the CLO industry
As a growing number of women break the glass ceiling and take senior positions in CLO firms, Creditflux asked about the opportunities and challenges they face. By Michelle D’Souza