Stellus to use tech to connect with wealth advisors for direct lending expansion
Direct lender Stellus Capital Management says it has formed a partnership with ICapital, a fintech platform

Arb work pays off
With day-one arbitrage alone delivering projected CLO cash-on-cash returns of 20-25%, 2021 may have been the best year ever for equity investors — at least until CLO spreads began to widen  

They said it: "I feel vindicated..."
Dallas-based Patrick Daugherty says “it was worth it”, after his settlement with Highland

Marathon changes pace with rival's head of US CLOs set to join
Marathon is bringing in a senior portfolio manager from another CLO issuer

Three US CLOs join growing list of deals to default
Another three US CLOs have the ignominy of having their tranches downgraded to D, taking the total list of 2.0 CLOs to default to eight. Before August 2021, 2.0 CLOs had a clean record according to S&P ratings 

MidOcean announces promotions in credit business
Two portfolio managers are among those to earn promotion at MidOcean Partners 

Highland turnaround is complete as Daugherty takes control of affiliates
“I feel vindicated and proud to have fought for over 10 years on behalf of investors. It was worth it,” Daugherty tells Creditflux after reaching an agreement with Highland where he will have an ownership stake in the Highland platform, among other things 

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

III promotes CLO head to partner
III Capital Management, the investment manager arm of AVM, has promoted its head of CLOs to partner

Marathon promotes CLO specialist to managing director
Marathon Asset Management has a promoted CLO specialist to managing director, in a role which encompasses the management of all non-credit elements of the firm’s CLO business

Franklin makes it back to CLOs as parent company looks to issue through two channels
Franklin Advisers has made a return to CLO management after 10 years in a deal arranged by JP Morgan

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  

WhiteStar to absorb MacKay Shields' European CLO platform
WhiteStar Asset Management has swooped for MacKay Shields’ European CLO business, ending weeks of speculation over the latter’s CLO ambitions and confirming WhiteStar's status as a rising star 

It's All Relative: CQS, Capital Four and Tikehau look for CLO breakthrough as debutant premiums drop
The number of US CLO issuers in 2021 could be about to reach 106 with Capital Four, CQS and Tikehau looking to price debut deals, with price talk set at ambitious levels

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

CLO resets drive equity returns to highest in five years: JP Morgan
Equity investors in US CLOs are earning, on average, the biggest returns of the past five years, finds JP Morgan – with deals reset this year having done most to raise the numbers

Blackstone Credit names tech investing head
Blackstone Credit has promoted a New York-based official as its global head of technology investing

Lazard targets IG, crossover and HY in long/short credit ucits fund
Lazard Asset Management has unveiled a new credit ucits fund that will invest primarily in investment grade, crossover and high yield bonds in Europe and North America

"I’m passionate about broader representation within investment teams"
CIP's Leila Donnachy takes our credit quiz 

Sycamore Tree starts with clean slate as it markets debut CLO via Citi
Sycamore Tree Capital Partners is marketing its inaugural CLO via Citi 

LibreMax collects $225 million for structured credit fund
LibreMax Capital has closed its fifth drawdown vehicle, LibreMax Structured Opportunities Partners I, at $225 million

Livermore gives Peace a chance with anchor role in Blackstone deal and plans more CLO investments
CLO equity investor Livermore Investments Group reveals it was the anchor investor in a recent $650 million US deal

US CLO pipeline: 1.0 manager returning, Carlyle going for CLO 10 as market goes to 100
Never in 1,000 years would the critics have expected this 

Fitch places 102 US CLO tranches under 'observation' following methodology changes
Fitch Ratings says it has placed 102 tranches issued by 43 US CLOs and 13 tranches by seven Trups CDOs under criteria observation, following the update to its CLO and corporate CDO rating criteria earlier this month

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