Tabula makes series of hires for active credit fund launch
A new arm of independent investment manager and fixed income ETF provider Tabula Investment Management has made four hires as it looks to launch actively managed credit strategies with a systematic approach

ESG growth in CLOs has momentum in 2021, say JPM strategists
ESG investing in securitised products such as CLOs have 'momentum for growth in 2021' despite very slow volume growth and lack of progress in standardised scoring over the past year, say JP Morgan strategists in a research note

Europe resumes rally in US absence with Italian spreads hitting new records
Caution about a possible Draghi bubble looks to be a rare commodity, as Italy sovereign and bank spreads are once again among the biggest improvers in a buoyant start to the week

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

Bain preps follow-up to 2015 global direct lending fund
Bain Capital has launched its latest direct lending strategy, Bain Capital Global Direct Lending 2021

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

Brexit trade deal bolsters private debt deal-making
The long-awaited Brexit UK-EU trade deal struck on 24 December has provided private equity sponsors with a level of certainty, say market participants, even though a financial services deal is still to come

SME lender LCM raises €3.4 billion for European credit fund
LCM Credit Opportunities 4 is nearing a €4 billion target and expects to hold a final close in April

Credit funds at a glance: several funds post double digit November returns
November was a strong month for credit hedge funds listed by Creditflux, with latest returns demonstrating the effect of the vaccine/US election rally on fund perfomance

Alcentra co-CIO for liquid credit set to leave this month
A high profile figure in the US CLO business is leaving Alcentra

Oquendo exceeds €150 million hard cap for senior direct lending fund
Spanish direct lender Oquendo held a €172 million final close on its senior direct lending fund, Oquendo Senior Debt Fund, in December 

LP round-up: investors gift private debt and leveraged loan RFPs over holiday season
2020 ended on a strong note with four institutional investors increasing asset allocation to private debt or initiating private debt and leveraged loan searches. ArrowMark, Banner Ridge, BBAM, HIG Whitehorse, Monroe and Rialto were also awarded mandates

UBP holds €110 million first close on real estate debt fund
Union Bancaire Privée has held a €110 million first close of its latest private debt strategy, UBP Private Debt Fund III

No CDS auction for Scandinavian Airlines 'soft' credit event, rules DC
A credit event auction will not take place for Scandinavian Airlines System Denmark–Norway–Sweden CDS contracts, despite the company triggered a restructuring credit event last month, the EMEA Determinations Committee has ruled

LP round up: $2.8 billion flows to credit as Apollo concedes fundraising may slow
Florida Retirement System Trust Fund made the largest commitments allocating $1.6 billion. Apollo meanwhile acknowledged a potential slowdown in fundraising as investors await results on an independent review into CEO Leon Black's relationship with Jeffrey Epstein

GSO co-founder Bennett launches minority GP-stake business
GSO Capital Partners co-founder Bennett Goodman (the “G” in GSO) has teamed with Mike Arpey, Avshalom Kalichstein and Rex Chung to launch a new GP stakes investing business

Credit fundraising: Dubai manager gets in on the act as direct lending takes off
Shuaa launches credit fund in the Gulf as Ares, Contingency, HPS and Perceptive are among those to close billion-plus funds

Squarepoint adds former bank credit trading head in London
Squarepoint Capital, a cross-asset fund manager that uses systematic and quantitative strategies, has hired a former global credit trading head at Societe Generale to lead fixed income, currencies and commodities alpha capture

Scandinavian Airlines System triggers restructuring credit event
Scandinavian Airlines System Denmark–Norway–Sweden has triggered a restructuring credit event as a result of its recent recapitalisation, the Emea Determinations Committee has ruled

Direct lending green shoots flourish despite fundraising plunge
Despite the headline figures, sources say European direct lending fundraising remains healthy and newcomers have a place to enter

Syz hires former Brigade official as it pushes into litigation finance
Syz Capital has appointed a head of special situations and uncorrelated strategies, as part of the firm’s push into litigation finance

SVP collects $1.65 billion for dislocation fund in four months
Strategic Value Partners has closed fundraising for its Strategic Value Dislocation Fund with around $1.65 billion in commitments

Vontobel hires ex-Pictet bond manager as head of fixed income boutique
Vontobel Asset Management has announced the appointment of an ex-Pictet bond manager as head of its $25 billion fixed income boutique

Green credit advocate launches research body
Stockholm-based portfolio manager and green credit advocate Ulf Erlandsson has today announced the launch of research body Anthropocene Fixed Income Institute (AFII)

Ares pulls in at least €6 billion for European direct lending
Ares Management is well on track for raising its largest European direct lending fund