Apollo picks up two hires from Bank of America
Investment bankers Tomasz Gruszka and Murad Khaled have joined Apollo and an affiliate from Bank of America

Global Loan Highlights 1Q24: Don’t call it a comeback
Loan refinancing share hits historic high, but IG issuance stymies YoY global growth

Blackstone to close multi-strategy fund after assets fell nearly 90%
Blackstone plans to shut down its Blackstone Diversified Multi-strategy Fund by the end of the year after assets within the fund declined by nearly 90% in the last four years

M&G launches first European private credit fund
M&G Investments is the latest firm looking to individual investors as an avenue for fundraising with the launch of a new ELTIF, dubbed the M&G Corporate Credit Opportunities Fund

Loan Highlights 3Q23: Loan volumes remain significantly lower than historical averages
Capital markets loan activity continued to struggle in the third quarter of 2023, as issuers in the Americas and Europe held off from tapping markets

Crédit Agricole appoints head of corporate and leveraged finance
Crédit Agricole CIB has appointed a head of corporate and leveraged finance, effective Thursday

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

Pimco promotes global lev fin and CLO head to managing director
Pimco's leveraged finance head is one of five senior officials promoted to managing director

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.

Credit Suisse to streamline European CLO manager client list
Credit Suisse is unlikely to be among the heavyweights in European CLO origination with market sources indicating that the bank is reducing its CLO manager client list

LP round up: two managers terminated as 20 win $2.5 billion
US institutional investors allocated over $2.5 billion to 20 credit managers in October, according to documents seen by Creditflux. Two credit fund managers however were terminated in the month

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

ArrowMark fills vacancy in London with SRT hire from sell side
ArrowMark Partners has filled a void in its London office after hiring an SRT specialist from Citi 

Widening asset/liability gulf will hurt CLOs: Barclays
A mismatch between CLO asset / liability rate risk is increasing in the US as more leveraged loan issuers opt for one-month pay frequency, Barclays credit strategists have found

We can cope with downgrades again

Manager selection stakes are heightening as CLO pain points intensify: Barclays
CLOs’ slump in market value and piling of distressed assets have made differentiation between managers much more acute on key metrics, regionally and by vintage, according to Barclays credit strategists

CSAM does the CLO awards double
Winning the Creditflux Manager of the Year award is a feat in itself. Winning it back-to-back in such different markets is an outstanding achievement — and CSAM can take great pride in it

"Faltering oil supply is lamentable at a time of strategic and moral shortfall"
We need to accept the pain and cut dependence on Russian oil today

"The loan market is the septic tank for sub-single B LBO financing"
Portfolios of single name IG CDS are less complex and more liquid than CLOs

LP round up: Oak Hill wins $3bn mandate as credit allocations near $10bn in March
Institutional investors revealed over $9.5 billion of allocations to credit funds in March. Oak Hill Advisors walked away with the largest mandate, as US heavyweight pension Calpers allocated a whopping $3 billion across several of its funds

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

"The CLO industry can be a little clubby… it feels like there are few advocates"
Pension Danmark's David Altenhofen taks our credit quiz 

Siaci €202 million loan to leave CLOs after merger as new debt guided in low 400s
Burrus has outlined price talk on an €850 million loan backing its acquisition and merger with Siaci, a popular CLO credit

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

CLO PM set to leave PGIM ahead of move to London-based manager
A London-based mid-sized CLO manager has hired an official from PGIM