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

Man GLG's senior PM Mawby resigns
Man GLG’s Jon Mawby has resigned as senior portfolio manager with immediate effect and will now be placed on gardening leave, Creditflux understands.

SocGen prices its first CLO transaction of the year in US reset
Societe Generale has arranged its first CLO transaction of 2018, according to market sources

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.   

Minneapolis manager hits $1.5 billion in sales for credit strategy
The firm has reached $1.5 billion in sales for a credit fund, indicating sales of $500 million in a single year

B-wic round-up: demand for secondary CLO equity picks up in 2018
Secondary trading prices for US CLO debt tranches have been falling since the start of the year, with average cover prices for junior debt reverting to where they were six months ago. However, the opposite has to be said for CLO equity

Credit Suisse fund to liquidate following underperformance
Credit Suisse is liquidating the Credit Suisse Commodity Access Strategy Fund, which invests mostly in bonds

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

Octagon-managed structured credit fund invests heavily in CLO equity
A new structured credit interval fund subadvised by Octagon Credit Investors has invested almost half of its portfolio in CLOs

B-wic round up: triple A investor locks in gains after major CLO auction
Senior notes completely dominated the secondary market last week as one investor decided to showcase a $635.54 million selection of triple A notes spanning 13 CLOs

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

Synthetic CDOs seek to follow CLOs
Growing issuance, interest in longer maturities and the emergence of a secondary market are encouraging dealers to believe that bespokes are on the road to acceptance. By Sayed Kadiri

Recently priced CLO triple A bonds up for grabs in $635.54 million B-wic
Large slices of recently priced CLO triple A paper are up for grabs in the secondary market today, according to market sources

B-wic round up: large chunks of Silvermine CLO trade in $263 million auction
One CLO investor stepped up, in what was otherwise a quiet week in the secondary market, to launch a colossal b-wic totalling $263.1 million

FS Investment BDC's assets shrink for fifth year running
FS Investment Corporation, an FS Investments business development company (BDC), failed to grow its assets again in 2017 – but insists its recently announced partnership with KKR will allow it to grow stockholder value

B-wic round up: investor flips 2018 CLOs without waiting for the closing date
Flipping CLOs is not an unusual trade. But it is when it's done before a transaction has even closed

New York CLO manager teams up with Jefferies to refinance a reset deal
The manager has refinanced its 2012 CLO following a $666 million transaction, according to market sources

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

AB names fixed income co-heads and replaces Ashish Shah on two funds
Following the departure of Ashish Shah, who was AB's head of fixed income and chief investment officer, Will Smith has been appointed co-manager on two bond funds. Meanwhile, the firm has named two co-heads of fixed income

Pretium adds to its US CLO AUM with another acquisition
A boutique US CLO manager has sold two management contracts to fast-growing Pretium

THL Credit assigns new role to senior portfolio manager Murphy
Alternative credit manager THL Credit Advisors has promoted managing director Brian Murphy to head of capital markets

US CLO round-up: who's going to be first to break 100bp?
US CLO spreads continue to rally and the question on everyone’s lips right now is: “when [not if] will triple As dip below 100 basis points?”

Vintage deals revived as CLO equity investors buy, refi, reset and repeat
US CLOs are being reworked time and again as investors look to reset deals that have previously been refinanced

Who predicted $145 billion of issuance?
That went better than expected: US risk retention came in, and $145 billion of global new issuance later, it’s clear that CLOs aren’t disappearing. By Tanvi Gupta and Sam Robinson

Bill Barr steps down from Och-Ziff board as firm's new CEO is named
Och-Ziff has named a new chief executive officer to succeed Dan Och, with the firm announcing today that former Credit Suisse executive Robert Shafir will step into the position