ESG phenomenon leads to talk of incentive fee models
For asset managers that are diving into environmental social and governance (ESG) investment standards, an ugly truth is the lack of any standardised performance fees. But that could change as more investors begin picking and choosing allocations based on ESG rubrics.

THL updates credit investment framework to include ESG
THL Credit Advisors has announced that it has developed an investment framework for assessing environmental, social, and governance (ESG) factors in analysing credit quality and risk factors

Last of GSO's co-founders departs
It's the end of an era as GSO Capital Partners co-founder Bennett Goodman (the 'G' in GSO) will step down from the firm at the end of the year 

Connecticut $36 billion pension hires first chief risk officer
The Connecticut Retirement Plans and Trust Funds has hired its first-ever chief risk officer

Credit plays a big part as KKR increases AUM by $6.5 billion
KKR grew its assets under management by 8% over the second quarter, according to the firm’s earnings call, which took place on Thursday.

Calpers misses returns target despite fixed income outperformance
California Public Employees' Retirement System (Calpers) has missed its annual investment target despite strong performance from its fixed income portfolio, which was its top performer  

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  

Blackstone follows in footsteps of KKR and Ares by converting to corporation
The conversion is anticipated to be effective from 1 July

Shenkman targets $500 million for opportunistic credit fund
Shenkman’s opportunistic fund will aim to take advantage of the volatility in the market

New manager Resco lands ex-credit head to found advisory board
Resco Asset Management, a London based asset manager set up last year, has appointed the first of an anticipated three advisory board members

Credit manager Post unveils new leadership structure
The reshuffle follows the departure of Post Advisory's chief investment officer   

Ares grows credit 34% with direct lending boost, but high yield takes rough ride in Q4
Ares Management Corporation reported strong returns for its European direct lending strategies in the fourth quarter of 2018. But the firm's overall revenues slumped and its US loan funds and high yield strategies were hit by the volatile credit market 

Carlyle performance dips in Q4, but credit teams ride global volatility
Credit fund performance dipped for the Carlyle Group in the fourth quarter, as market volatility and fund outflows put a dent in the industry’s much stronger performance of the previous three quarters

Apollo's credit funds report gains in 2018 despite Q4 slump
Apollo saw $21.6 billion inflows throughout the quarter leading to a record total assets under management of $280.3 billion. The firm, however, reported a net loss throughout the quarter 

Carlyle Aviation appoints new managing director
The $5.6 billion recently acquired unit of asset manager Carlyle Group has appointed a new managing director and co-head of aviation  

Rockefeller partners with iCapital to expand into alternatives
Rockefeller Capital Management has partnered with financial technology platform iCapital Network, to increase its exposure to alternative investments

US regulation drives insurance money towards credit ETFs
Institutional investors are increasingly allocating to credit exchange-traded funds (ETFs), but their motivations are changing. These vehicles are famed for their liquidity, but several investors are said to be pouring money into them for the long term amid regulatory changes which have made ETF investments more favourable

Sears CDS battle heats up as DC challenged to change auction rules
A high profile battle over Sears Roebuck Acceptance Corp credit default swaps has taken a new turn, with one market participant challenging the Americas Determinations Committee to change its rules to avert price manipulation by another market participant in the bankrupt retailer's credit event auction

GSO co-founder plans new credit business
GSO Capital Partners co-founder Tripp Smith is launching his own credit management firm, according to a report by Bloomberg

Sears CDS external review panel named to solve Determinations Committee impasse
The North America Determinations Committee has selected an external review panel to decide whether two Sears Roebuck Acceptance Corp debt obligations can be delivered into an auction to settle the US retailer’s credit default swaps, having failed to achieve a strong enough quorum among its own 15 members

Credit sell-off has room to run and pricing is out of whack, says BNP Paribas
The credit market sell-off could have further to go despite recent widening and is “in the process of a late-stage business cycle unwind”, according to a strategist note seen by Creditflux

Investcorp adds ex-Anteil officials to run manager buy-out business
The new strategy will focus on acquiring up to 25% stakes in mid-sized alternative asset managers

Ares ups its target for US senior direct lending growth to $4.7 billion
Following $5 billion of inflows into global direct lending in the third quarter, Ares has upped the target for its US direct lending strategy 

Axa IM reveals new Ucits-compliant global credit fund
The new vehicle aims to offer investors a Ucits-compliant product that invets across the whole credit spectrum 

OFS holds IPO for $50 million CLO fund
OFS Capital Management has held an initial public offering for its closed-end CLO fund, OFS Credit Company