Morgan Stanley loses head of direct lending and co-head of North America private credit
EXCLUSIVE: the head of direct lending had also served as co-head of North America Private Credit at Morgan Stanley Investment Management; bank assigns new head  

L&G discontinues GP stakes programme as head of strategy departs
Current GP stakes investments remain 'strategically significant'; Hannah Gore-Randall led investments into Pemberton, NTR, ImpactA
   

Private capital funds core to next wave of structured finance expansion - new Latham partner Franz Ranero
New Latham recruit Franz Ranero, who leads a team of 11 to have moved across from A&O Shearman, spoke to Creditflux about the opportunities in more private, bespoke financings that share common features with CLOs and asset-backed loans

Latham & Watkins hires two marquee structured finance lawyers
The law firm has recruited A&O Shearman veterans Franz Ranero and James Smallwood    

By raising billions, private credit funds are causing a seismic shift in leveraged finance
Private credit funds are amassing a huge war chest that’s permanently changing the complexion of the leveraged finance market

Debut manager markets first European CLO
A new European CLO manager is in the market with its first CLO, with the deal expected to price in the next few days

Sculptor launches CLO captive equity platform
Sculptor Capital Management launched its new CLO captive equity platform today, anchored by a commitment from Rithm Capital

How many CLOs will be reset?
Tightening liability spreads aren’t just driving record new CLO issuance this year — they’re also triggering a wave of resets and refinancings in the US, especially for broadly syndicated CLOs

Fund performance: CLO funds dominate top 10, but long-short and Ucits funds find places too
CLO funds made sure to end the year their way: once again they claimed most of the top performance spots. Six of the 10 best-performing funds in December have a majority of their assets invested in CLOs.

UK-based manager looks to restart European infra CLO market
RM Funds, an Edinburgh-based infrastructure debt investor, is looking to launch the first European infrastructure CLO since 2008

What CLO investors really need to know
From the drivers of CLO performance to cashflow modelling, these are the seven things every CLO equity investor needs to know. This article is an extract from Dealscribe and CLO Research’s guide What CLO Equity Investors Need To Know

Amundi launches impact strategy aiming at agri
European asset manager Amundi has launched an impact investing strategy dubbed Amundi Ambition Agri-Agro Direct Lending Europe, with the intent of preserving natural resources and ensuring food sovereignty.

Capital Four named new sub manager of high yield bond fund
Danish boutique asset manager Capital Four revealed on Tuesday that it will take over sub-management of the Nordea 1 - International High Yield Bond Fund, as the firm continues to build out its investment capabilities in the US

European CLOs win out against US deals
Last month, our analysis explored the performance of US CLOs that were previously reset. We found that they delivered higher distributions than deals which weren’t reset, with the exception of the 2017 and 2018 vintages (Creditflux September 2023 — Do resets help CLOs perform better?). This article expands that analysis to the European market, and compares the performance of US BSL and EU CLO equity tranches.

Loan Highlights 2Q23: Running aground
The global loan market endured a bleak first half of the year, with the overall 1H23 volume falling 28% year-on-year (YoY) to $1.9 trillion, the lowest showing since 2012.

Serone Capital hires PM for European Special Situations Fund
Serone Capital Management has hired new blood in its European special situations division as existing PM Ralph Herrgott moves on

May 2023 European Leveraged Highlights
High yield bond refinancing dominates a weak market according to Debtwire's May 2023 European Leveraged Highlights, featuring key trends in the leveraged loan and high yield bond markets. 

Crédit Agricole appoints head of corporate and leveraged finance
Crédit Agricole CIB has appointed a head of corporate and leveraged finance, effective Thursday

Credit Suisse/UBS deal to create $5 trillion asset manager
The emphasis is set be on wealth and asset management, according to a statement released by UBS in conjunction with its move to acquire Credit Suisse

Sound Point holding CLO M&A talks which could catapult it to fifth-largest manager
Sound Point Capital Management is locked in talks with a large, global CLO manager over a deal that could take its CLO AUM north of $36 billion

Experienced CLO investor parts ways with bank treasury desk
A senior triple A CLO investor has parted ways with a treasury desk ahead of a move to another financial institution  

Not every CLO can be a winner
The CLO industry has undeniably performed well enough to justify the plaudits it receives. But there will always be some unloved CLO tranches that slip into triple C territory

Chenavari strikes gold with senior CLO and ABS trading hire
Chenavari Investment Managers has made a senior hire to its European CLO and ABS trading team

Founder of Alcentra's structured credit business to step down as PM
A long-time CLO tranche investor is set to move away from day-to-day portfolio management duties and take on a new role as senior advisor 

Oaktree launches global high yield Ucits fund with low-carbon emissions focus
Oaktree has launched a global high yield responsible Ucits fund, which it says will offer investors the “opportunity to gain exposure to the asset class while promoting progress toward a low-carbon economy.”