CLOs nurse $172 million of Quorum's debt following bankruptcy - but recovery prospects look good
CLOs hold $172.9 million of the debt of US hospital operator Qurum Health Corporation, which filed for Chapter 11 in the US Bankruptcy Court for the District of Delaware last week

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

VIP Cinema makes uncomfortable viewing for CLOs as it's reeled into Chapter 11
CLOs hold $52.9 million of debt in seatmaker VIP Cinema Holdings, which has filed for Chapter 11 bankruptcy protection in the District of Delaware

Creditors left with sour taste as two food companies file for bankruptcy
Credit investors have been left to digest two US food company bankruptcy filings this week, with dairy producer Dean Foods triggering the first credit event to hit on-the-run series 33 of the CDX HY index, while Houlihan's Restaurants has also sought protection

BlueMountain starts new chapter as co-founder leaves and it winds down hedge fund
There are sweeping changes taking place at BlueMountain Capital Management, with the firm announcing that co-founder Stephen Siderow is leaving and that it is winding down its flagship hedge fund, BlueMountain Credit Alternatives Fund

Fair Oaks launches new fund targeting senior CLO paper
Fair Oaks Capital has launched a Ucits fund targeting triple and double A CLOs, according to market sources

Synthetic structured credit specialist lands at Brigade
A former Lehman Brothers structured credit specialist has landed at Brigade Capital Management in New York

Texas pension awards $75 million to CLO fund
The new commitment will sit in its strategic credit opportunities bucket

Bespoke gains pull CLO buyers as market tipped to hit $100bn
Synthetic bespoke issuance could catch up with the more visible CLO market this year, say structured credit specialists

Blackstone builds on multi-asset approach with fifth fund
The new vehicle will invest directly into Blackstone deals across its alternatives platform

Market favours retrospective over forward-looking approach to Ibor benchmark fallbacks, says Isda
New benchmark fallbacks for derivatives contracts that reference interbank offered rates are likely to be based on the “compounded setting in arrears rate” and the “historical mean/median approach to the spread adjustment”, the International Swaps and Derivatives Association has said

Chicago manager targets secondary market for new CLO fund
Boutique CLO manager Chicago Fundamental Investment Partners has registered a new opportunistic CLO fund

AllianceBernstein looks towards BSL CLO management with new hire
AllianceBernstein is looking to expand its CLO management business and enter into the world of broadly syndicated CLOs

Credit drives strong returns for five of the largest asset managers in the business
Carlyle is close to hitting its ambitious fundraising target; direct lending has been kind to Ares; and Och-Ziff has decided to shed its US CLO risk retention stakes after exiting its financing agreements

Neuberger's Dyal acquires minority stake in HPS
Dyal Partners, a division of Neuberger Berman, has acquired a minority equity stake in global credit manager HPS Investment Partners

Pension fund set to vote on rescinding York credit commitment and cutting Tricadia
The investment committee at San Bernardino County Employees’ Retirement Association has recommended that the pension fund rescind its commitment to a structured credit fund managed by York Capital Management, and terminate its relationship with multi-strategy credit manager Tricadia Capital Management

Mariner eyes new series for CLO Opportunities Fund
Mariner Investment Group is raising for the its second series of its CLO Opportunities Fund, according to US regulatory filings

Alcentra holds $513 million close for CLO-focused fund
Alcentra has held a final close on its third structured credit opportunity fund with $513 million capital commitments - which has the ability to invest in US and European CLO equity, mezzanine tranches and warehouse capital 

Antares promotes loan specialist Lyne and ex-JP Morgan CLO chief Mathew
Private credit giant Antares Capital has announced that founding partner Timothy Lyne has been appointed senior managing director and co-head of sponsor coverage while Vivek Mathew has been promoted to head asset management and funding

BlackRock expands US private debt capabilities with TCP acquisition
BlackRock has agreed to acquire $9 billion asset manager Tennenbaum Capital Partners

Structured credit specialists seek future-proofing in direct lending
At the turn of the last credit cycle, structured credit recovered spectacularly – but credit managers today seem to be gravitating towards private credit as the area to pick up excess returns in a downturn

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

Ares switches to C-Corp structure as it announces "record year" in earnings release
Ares has announced a change to its corporate tax status in an earnings release that described 2017 as “a record year” for the firm

CIFC taps former Citi CLO veteran to lead structured credit business
Jay Huang has joined credit manager CIFC as a managing director, senior portfolio manager and head of structured products investments in New York, Creditflux has learned

Oak Hill promotes three to partner
Oak Hill Advisors has promoted three managing directors to the position of partner, according to market sources