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

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.

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

First Eagle promotes four across syndicated loans and direct lending
First Eagle Alternative Credit has promoted four officials to senior-level roles across its direct lending and syndicated loans businesses

Allspring hires head of US distribution
Allspring Global Investments has hired John Moninger as head of US distribution in a role encompassing retail and institutional sales, platform development, client service and consultant relations.

Euro loans with FX hedging offer better value than US: Barclays
The big underperformance of European loans in June has left them looking cheap versus those in the US – but FX hedging and a nuanced selection process are advisable for investors looking to take advantage of that

Spac pricing hints at Sound Point's growth ambitions in loan market
Sound Point Acquisition Corp has priced a $225 million IPO, signalling that credit asset manager Sound Point Capital Management is looking to expand its platform

Infrastructure manager targets €1 billion for eclectic mix of project finance debt and SRTs
A Copenhagen-based firm is launching its first credit fund and has partnered with an SRT specialist in London for a component of its potential €1 billion offering  

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

Apollo names successor CEO as Black steps down
The announcement that Leon Black will step down from leading the firm comes on the heels of law firm Dechert’s independent review of his working relationship with convicted sex offender Jeffrey Epstein

222 CLOs hold bankrupt telecom firm as its signal fades
CLOs hold $334.5 million debt of Australian telecommunications company SpeedCast International, which filed for Chapter 11 bankruptcy protection in the District of Texas on Friday

First Eagle buys US CLO manager THL Credit
Two years after establishing its credit business with the acquisition of NewStar Financial, First Eagle Investment Management is aiming big again after striking a deal to buy THL Credit Advisors

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

Ontario pension selects new president and CEO

Ontario Teachers’ Pension Plan has appointed Jo Taylor as its new president and chief executive officer, effective 1 January  

Ullico makes two senior hires for its new fixed income platform
Ullico, an insurance and financial services company, has appointed two senior professionals for its newly-created fixed income investment platform, UIA Investment Management (UIA IM)  

Man Numeric launches credit platform and appoints co-heads of credit
Man Numeric, the quantitative investment business of Man Group, has launched a new credit unit and appointed two officials to lead the business

Alaska fund appoints CIO
Alaska Permanent Fund Corporation (APFC), the $65 billion sovereign wealth fund, has promoted an official to chief investment officer.

Credit hedge fund to pay $10 million to settle insider trading case
New York-based Visium Asset Management is to pay approximately $10 million to settle a credit fund insider trading case, 8 May US regulatory filings reveal

Investcorp names new co-CEO
Alterative investment manager Investcorp has announced that Hazem Ben-Gacem will become co-chief executive officer, joining current co-CEO Rishi Kapoor

Cerberus appoints former JP Morgan COO as president
New York-based Cerberus Capital Management has announced three senior leadership promotions: Matt Zames as president of Cerberus, Frank Bruno to co-chief executive officer  and Lee Millstein as president of the Cerberus global investments.   

Cheyne generates double-digit returns for hedge funds
Cheyne Capital has delivered with two credit hedge funds that have reached their maturity

Apollo reorganises its global credit platform
Sources say Apollo Global Management has reshaped its credit business by merging certain divisions and promoting several staffers in New York. Separately, sources say a high-ranking credit head has left the firm

Oak Hill appoints sole head of European credit as ex-partner takes on new role
One of Oak Hill Advisors’ most senior staffers has stepped into a senior advisory role

PineBridge appoints high-ranking State Street official as its COO
Global asset manager PineBridge Investments has appointed of Michael Karpik as chief operating officer, according to a statement by the firm

Seasoned credit specialist swaps River Birch for Guggenheim Securities
Guggenheim Securities has poached Jim Seery from credit fund manager River Birch Capital