First Brands Bankruptcy: financial tune up raised red flags that Wall Street overlooked
First Brands files for chapter 11 bankruptcy protection; Stakeholders anticipate significant discovery into company's practices

Man Group to acquire CLO and private credit manager Bardin Hill
The USD 3bn credit manager, now named Bardin Hill, is a private credit and US CLO shop based in New York

HPS targets $9.5 billion for fifth mezzanine debt fund
HPS Investment Partners is targeting $9.5 billion for its fifth global mezzanine debt fund, HPS Strategic Investment Partners V - but unlike earlier vintages, HPS says it will not target opportunities within the upstream energy space

Deutsche Bank adds credit trading head to US build out
Deutsche Bank is looking at the next phase of its US development with the hire of a credit trading head from another bank 

Eagle Point hires trader for non-CLO assets as it eyes growth in corporate credit
Eagle Point Credit Management is growing its non-CLO business, with the firm hiring a head corporate trader responsible for trading high yield, BDC debt as well as equity, reits and other securities

LP round-up: $2.6 billion flows into 26 credit managers
A stuck ship in the Suez Canal may have prevented others from getting through one of the world's busiest waterways in March, but allocations to credit funds were much more free flowing as investors poured over $2.6 billion into the hands of credit managers

DE Shaw amasses $1 billion for stressed and distressed assets
The fund will invest in stressed and distressed assets, financings, and special situations opportunities

Atalaya hits $1 billion hard cap on private credit fund with 10-13% return target
Atalaya Capital Management has hit its $1 billion hard cap on its private credit speciality finance fund, Asset Income Fund V

Ex-Highland official launches private credit placement agent firm for niche strategies
The former partner and chief executive officer at global placement agent FirstAvenue Americas, has launched his own placement agent named Briarcliffe Credit Partners

Leucadia pushes into distressed debt as it seeds new manager
Leucadia Asset Management has made a push into special situations and distressed debt, with the Jefferies’ subsidiary announcing a strategic partnership with FourSixThree Capital. Leucadia will provide seed capital to newly formed FourSixThree, as part of that transaction

Chesapeake default takes CDS auctions to eight-year high
Chesapeake Energy has been confirmed as the latest CDX HY index constituent to require settlement at auction, after the Americas Determinations Committee ruled it has triggered a bankruptcy credit event

Chesapeake bankruptcy points to hit for CDS and loan holders
Chesapeake Energy looks set to become the latest in a string of defaults to hit US high yield index CDX HY, after the Oklahoma City headquartered shale producer filed for chapter 11 protection

Balbec holds $1.2 billion final close on fourth insolvency credit fund
Balbec Capital has held a $1.2 billion final close its fourth non-performing loan fund, InSolve Global Credit Fund IV

Angelo Gordon bolsters distressed debt team with hire from GSO
Angelo Gordon has bolstered its distressed debt and corporate special situations team with the appointment of a managing director

Credit traders' kickstand: rolling with the pain, as relative value trades come unstuck
What a difference a month - and a pandemic - make. This time in February, no-one could have imagined a global financial crisis would be unfolding, that credit performance would be a battle between a virus and some of the biggest government and central bank interventions on record, that today's iTraxx Europe and CDX index rolls would traverse unprecedented ranges, that option expiry strikes would be blown beyond recognition, or that cash and CDS differentials would be whipsawing with such violence

Credit traders’ kickstand: roll nightmares haunt CDS market as indices whiplash
It’s Friday 13^th, but CDS traders will be hoping the worst of the horror shows are behind them as they try to regather their shredded nerves in time for next week’s biannual index rolls

Credit breakdown as one-day volatility outstrips financial crisis
Credit default swap markets have surpassed the record one-day volatility of the global financial crisis, with indices surging to new wide prints as the spiralling impact of the coronavirus outbreak brings government lockdowns on travel while wreaking havoc on oil prices and supply chains

Franklin Templeton reorganises long-short credit fund team
Asset manager Franklin Templeton Investments will make changes to the portfolio managers for the Franklin K2 Long Short Credit funds, effective from October

PennantPark raises $750 million for direct lending and opportunistic credit
PennantPark Investment Advisers has raised $750 million across four vehicles, according to an announcement

Owl Creek turns heads to special situations with new fund
The firm joins several other distressed investors preparing to take advantage of a potential downturn

Texas pension fund commits €75 million to European distressed debt
A $30.01 billion pension fund has awarded €75 million to a European distressed debt fund managed by AnaCap Financial Partners

Distressed debt specialist closes $727 million credit fund
Balbec Capital has announced the final close of InSolve Global Credit Fund III with $727 million capital commitments

Distressed credit specialist rakes in $781 million for global debt fund
Balbec Capital's latest global credit fund has a $1 billion target

Oak Hill promotes three to partner
Oak Hill Advisors has promoted three managing directors to the position of partner, according to market sources

Pimco fund edges closer to $5 billion hard cap with new pension fund injection
Pimco's special situations fund, already above $3 billion, has picked up fresh inflows from a Pennsylvania pension fund