Fund performance: European CLO funds lead the way
February was a positive month for many funds, as only one quarter failed to reach the black. This builds off a stellar start to the year: 96% of funds reached a positive return in January

Carlyle appoint former Goldman executive as CEO
Carlyle Group have appointed former Goldman Sachs Co-President and CO-Chief Operating Officer Harvey Schwartz as Chief Executive Officer and a member of the board, the firm has announced.

Sculptor CEO Levin refutes "personal issue" accusation by ex-chief Och
Sculptor Capital Management’s independent board and the company’s chief executive officer and chief investment officer Jimmy Levin have fired back at former CEO and founder Daniel Och after he cited a “personal issue” in reference to Levin’s past

Axa IM launches multi-strat fund for pensions
Axa Investment Managers’ ‘alternatives’ business has launched an open-ended strategy for pension funds

Fund performance: Déjà vu as April leaders dominate
CLO funds stayed in the top flight for another month as they took over the top 10 credit hedge fund return table in May, when 87% of all funds listed made positive returns

DWS and Tikehau target UK pensions with multi-strategy credit fund
The new fund will invest in CLOs, ABS, private debt, leveraged loans, infrastructure debt and real estate debt

LP round-up: $2.6 billion flows into 26 credit managers
A stuck ship in the Suez Canal may have prevented others from getting through one of the world's busiest waterways in March, but allocations to credit funds were much more free flowing as investors poured over $2.6 billion into the hands of credit managers

It's all relative: CLO spreads explore record tights as credit indices hit impasse
CLO spreads are grinding to ever tighter levels, despite a flattish week for credit in which corporate credit indices have ended up more or less unchanged

It's all relative: CLOs are lagging no more, as Carlyle deal drags market tighter
“CLOs are lagging” has been a much repeated refrain over the last nine months. But Carlyle Group has this week produced a US CLO that has dragged spreads to their tightest point in three years so that, rather than comparing CLOs to pre-covid levels, they should be assessed against early 2018

Bridgepoint buys EQT's credit business - report
Bridgepoint is buying the credit business of EQT, according to the Financial Times

LP round-up: mighty Oaks win $1 billion apiece from Calpers
Credit investors allocated over $3 billion to 18 credit managers this week across a wide range of strategies

Lord Abbett preps floating rate interval fund with monthly share repurchase
Lord Abbett Enhanced Floating Rate Fund will invest at least 80% of its assets in floating rate products including senior secured or unsecured loans, second lien debt and floating rate structured credit including CLOs

EQT undertakes strategic review of credit business
EQT has announced a review of its credit business with the firm appointing JP Morgan to evaluate its 'strategic options', according to the firm’s Q4 2019 report

CIFC beefs up investor relations team in London with two hires
CIFC Asset Management has hired from Muzinich and Murano in a bid to strengthen its European investor relations effort

CLO supply set for double-digit drop in 2020, says JP Morgan
US CLO supply in 2020 will be as much as 20% down on 2019, while European issuance will fall 13% year-on-year, predict JP Morgan strategists in a research note. Even so, new CLOs should still outpace existing deal paydowns, as well as high yield primary market net new issuance

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

EQT looks to raise €500 million via IPO
The initial public offering is anticipated to increase EQT's flexbility to “pursue growth opportunities” and expand its private market investing business

Mediobanca builds loan and CLO trading team with hire
Mediobanca has made a hire as it looks to grow the loan and CLO trading business in London it established last year 

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  

The Last Tranche: awards season is upon us [podcast]
A look at 2018 award offerings and finalist, plus some insight on direct lending and b-wics

Oak Hill reshuffles leadership in Europe
Oak Hill Advisors has appointed three long-serving members of its investment and business development teams to lead the European office

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

24 CLO managers hold J Crew loan as it drops 4.62%
A total of 109 CLOs hold $219.4 million exposure to J Crew, whose Term Loan B traded down 4.62% from yesterday 

European loan issuance set to decline in 2019, says Moody's
The outlook for European leveraged loan issuance remains strong for next year, according to report by Moody’s, although levels will depend on M&A activity