Curve inversion for airlines and freight as Trump travel ban sparks sell-off
Airlines, travel firms and shipping companies are among some of the credits hit hardest by US president Donald Trump’s imposition of a ban on travel from mainland Europe, a move that sent the iTraxx Crossover index back to its widest level since October 2012

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

Amundi joins forces with French bank to launch midcap loan fund
Amundi has partnered with French bank LCL to launch a mid-cap direct lending fund - and the fund has collected €130 million on its first close, just over half its target size 

EQT undertakes strategic review of credit business
EQT has announced a review of its credit business with the firm appointing JP Morgan to evaluate its 'strategic options', according to the firm’s Q4 2019 report

Apollo CLO and CSO specialists earn promotion to partner
Apollo Global Management has promoted two members of its global structured credit team, according to market sources

BlueBay adds senior portfolio manager as it targets EM fund launches
BlueBay Asset Management has hired for a newly created senior portfolio manager job 

Western to launch European loan business after hiring portfolio manager
Western Asset Management is launching a European corporate loan business after hiring an experienced credit portfolio manager with a background rooted in the CLO industry

Allianz GI names CEO and head of investments as Utermann steps down
Allianz Global Investors has named Tobias Pross as chief executive officer and Deborah Zurkow as global head of investments, following the resignation of Andreas Utermann

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

West coast pension eyes European private credit for diversification
The $3.1 billion pension fund is looking to diversify its private credit exposure following an asset class education by investment consultant Meketa

Nordea AM portfolio manager joins Capital Four
Capital Four Management has appointed Nordea Asset Management portfolio manager Stine Milling Pilegaard as a director in its Copenhagen office

Axa IM hires BlackRock PM for global credit strategies
In a newly created role, the hire will be responsible for the firm's global credit strategy in its buy-and-maintain team

Swiss pension seeks new director after exit
Publica, a Swiss pension fund, is searching to appoint a new director, following the decision of Dieter Stohler this week to leave the firm  

Cairn appoints CEO from Oceanwood as Campbell steps down
Cairn Capital has hired a new chief executive officer, who will take over from co-founder Paul Campbell

Barclays rehires high yield credit trader from Goldman Sachs
A high yield specialist has become the second credit trader in as many months to rejoin Barclays from Goldman Sachs

Warsaw-based direct lender launches fund to invest in central and eastern Europe
The Warsaw-based private debt manager has received the backing of the European Investment Fund

100% pay-out on New Look CDS as physical bids fail to materialise
A credit event auction to settle CDS referencing New Look today resulted in a zero cent final price, meaning contracts paid out to protection buyers in full - the first time this has happened other than by a 'deemed auction' decision since 2012

Oak Hill reshuffles leadership in Europe
Oak Hill Advisors has appointed three long-serving members of its investment and business development teams to lead the European office

Key figure in HPS's direct lending team parts ways with the firm
HPS Investment Partners has lost a senior member of its direct lending team in Europe

HSBC boosts single name CDS and index trading with experienced hire
HSBC has added a former index trading head to its credit team in London

Deutsche plots single name CDS return and index push with two senior hires
Deutsche Bank has made two senior credit trading hires to its London office, with sources saying these portend a revival of its CDS market-making business

HPS targets $8 billion for flagship mezzanine strategy
HPS Mezzanine Partners 2019, the firm's fourth fund in its mezzanine strategy, has won $100 million from a Louisiana pension fund 

AnaCap buys €4 billion Italian SME loan portfolio
AnaCap Financial Partners has made its first transaction of its fourth credit opportunities fund 

M&G adds structured credit specialist as ABS portfolio manager
The new appointment will replace former ABS portfolio manager Patrick Janssen, who has taken a larger origination role in the company 

Muzinich aims to take granular portfolio tactic across Europe
Muzinich has put together what it describes as a “direct lending 2.0” strategy, which it anticipates will serve as a solution to the constraints faced by middle market lenders in Europe. The firm launched the Italian version of the strategy in November via its Italian subsidiary Springrowth SGR and is looking to create follow-ups in other European jurisdictions