Manager shrinks in distressed and explores US direct lending sale: Debtwire
A global asset manager has a fresh set of priorities for its global credit platform with distressed debt and US direct lending moving down the pecking order

Former GoldenTree high-flyers launch structured credit firm in Los Angeles
A former GoldenTree senior portfolio manager and business development specialist have launched an asset manager that will invest across an array of structured credit, including CLOs, synthetics and private transactions

Credit fundraising: managers build homes for real estate credit funds
The “largest ever real estate credit fund” was one of the fundraising highlights last month as Blackstone’s Real Estate Debt Strategies IV fund reached $8 billion on its final close

LP round up: $5 billion flows to credit as private market allocations increase
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux

Blackstone raises $8 billion for 'largest real estate debt fund ever'
Blackstone is flush with cash to deploy into commercial real estate properties after finalising fundraising on its latest real estate debt fund, Blackstone Real Estate Debt Strategies IV

Sculptor promotes two after European credit head leaves for Pimco
Sculptor Capital Management has filled the void left by Mathieu Clavel, its former head of European and Asian corporate credit in Europe and Asia, by promoting two senior figures in its credit business

Fair Oaks resumes dividends on listed CLO fund
Fair Oaks Capital will resume paying dividends on its listed fund Fair Oaks Income Fund

Fiera rolls out private credit strategy with recent hires leading charge
Fiera Comox, an affiliate of Fiera Capital Corporation, has launched a new global mid-market private credit strategy

LP round up: managers keep fundraising hopes high as GSO targets $7.5 billion for mezz offering
Institutional investors allocated $1.6 billion into credit this week, according to documents seen by Creditflux

Golding holds first close for private debt vehicle
Munich-headquartered fund-of-funds manager Golding Capital Partners has held a first close on almost €200 million for its private debt fund Golding Private Debt 2020

LP round up: horseshoe does the trick for Pimco and other distressed managers
Institutional investors poured $2.7 billion into credit this week through 14 managers, according to board documentation seen by Creditflux

Fair Oaks tops up on double B CLO tranches in May
Fair Oaks topped up on double B-rated CLO tranches in its listed CLO fund in May, adding $79 million par value of BB-rated paper

EnTrust aims to onboard $1 billion for maritime direct lending fund by June
EnTrust Global is targeting $1 billion for a maritime direct lending fund, Blue Ocean Onshore Fund, and anticipates a final close in June

Fair Oaks suspends dividends from listed CLO fund citing covid-19 uncertainty
Fair Oaks Capital has suspended dividends on its listed CLO fund “in light of the ongoing uncertainty in economies and markets caused by covid-19 pandemic”, according to an update to investors in the $315 million fund

Credit hits new wides as US and Europe ramp up coronavirus battle plans
An emergency weekend rate cut by the US Federal Reserve as well as population lockdowns in France and Spain underscore that measures of economic risk have moved to a more systemic level as world governments scramble to deal with the impact of the coronavirus outbreak

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

Credit traders' kickstand: this is not a drill
Freefall in financial markets has brought one of the credit market’s most volatile sessions on record, as coronavirus cases globally near 100,000 and the WHO has warned governments are not doing nearly enough. iTraxx Crossover one-day volatility is up with the 2008 global financial crisis and 2011 European sovereign crisis

Pimco plans to outperform come rain or shine with $4.5bn all-weather fund
Pimco has become the latest manager to fashion a flexible, all weather credit fund that invests across public and private markets, geographies and capital structures. The Newport Beach-based manager is hoping to raise $3 billion for the strategy. With half a turn of leverage, it could have up to $4.5 billion to deploy.

Park Square promotes four after departure of direct lending head
Park Square has announced four promotions to partner, which comes a couple of months after its head of direct lending Howard Sharp parted ways with the firm, as previously reported by Debtwire

CSO arrangers look to build on $65bn of issuance in 2019
The synthetic bespoke tranche market this year has fallen short of expectations in terms of overall issuance volume, but ends with transformative inroads being made.

JP Morgan AM moves CFO to head up private credit
The chief financial officer of JP Morgan Asset Management has switched to a newly created role as head of private credit

Azimut hires ex-Dyal official as it aims to buy minority equity in asset managers
Azimut will initially focus on acquiring minority stakes in alternative asset managers with under $3 billion AUM – including private credit, private equity, infrastructure and real estate firms

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

Tikehau builds private debt secondary platform with senior hire
Tikehau Capital has bolstered its private debt capabilities with the launch of a new secondaries platform