ResponsAbility closes impact securitisation at $175 million
ResponsAbility, a Zurich-headquartered impact assessment manager, has closed a $175 million securitisation of loans to microfinance and SME-finance providers in emerging markets

UK transitions to post-Libor era with array of Sonia-linked deals
The UK’s structured finance market has moved to swiftly embrace the daily compounded benchmark Sonia (Sterling overnight index average) ahead of the 2021 phase out of Libor.

Index tranche levels spike as investors advance into equity
Trading of credit index tranches is picking up, with some $61 billion worth changing hands in the space during the first quarter, according to data from the Depository Trust & Clearing Corporation

Jefferies subsidiary and Stonyrock plan mid-market alternative manager stake acquisitions
The new joint venture will invest in private equity, credit, hedge funds, real estate, venture, and infrastructure firms

Highland Crusader Fund dispute re-ignites in Delaware court
Highland Capital Management is weighing the financial impact of its ongoing litigation over crisis-era fund redemptions with the Redeemer Committee of the Highland Crusader Fund

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

CLO monoline businesses return with new purpose
CLO tranche insurance is making a comeback. Assured Guaranty has underwritten two middle market transactions, while in Europe various firms are testing the waters for this type of insurance, according to sources.

Europe’s ABS market gets over STS road bump with VW deal
After months of waiting, Europe’s securitisation market saw the first ever deal to be structured as a Simple, Transparent & Standardised (STS) securitisation.

Former Ares partner takes on head of structured products role at Sound Point (correction)
A figure with more than 20 years of experience in CDO and CLO markets has resurfaced at Sound Point in New York 

US pension fund earmarks $375 million for various credit strategies
Massachusetts Pension Reserves Investment Management Board (Mass PRIM) has committed $125 million to distressed, $100 million to aviation investments, while earmarking $150 million for structured credit    

Regulation stifles SRTs, but banks and investors revel in quarter-four outperformance
Over the course of 2018 there was roughly €6.5 billion of issuance in the market for significant risk transfer (SRT) deals, sources say, with the last three months understood to be the busiest quarter on record

Securitisation Regulation hits European ABS issuance
Issuance in traditional European ABS has been notably slow in the first two months of 2019 following the introduction of the new Securitisation Regulation.

Trups CDO spreads shift wide of late 2018 levels as EJF produces $314 million deal
Trups CDO spreads have widened since the end of last year – much like corporate credit spreads – after EJF Investments priced its sixth securitisation of financial company debt.

Market welcomes Esma loosening of securitisation regs but questions remain
The European Securities and Markets Authority (ESMA)'s revision of the reporting templates that must be completed under the securitisation regulations addresses many of the concerns raised by market participants but leaves some points of difficulty, according to industry lawyers

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 

Virginia pension fund commits to Asian private credit
Virginia Retirement System (VRS) approved a $150 million commitment to the SSG Capital Partners V fund at a January board trustees meeting, a spokesperson has confirmed.  

M&G adds structured credit specialist as ABS portfolio manager
The new appointment will replace former ABS portfolio manager Patrick Janssen, who has taken a larger origination role in the company 

Orchard wraps up fundraising for $2.5 billion structured credit and special opportunities fund
Orchard Global Asset Management has held a $2.5 billion final close for its structured credit and special opportunities fund,

Cairn sheds light on single-investment SRT fund
Fresh details have emerged on Cairn Capital’s new significant risk transfer (SRT) funds with the manager informing Creditflux that Pathfinder Fund III was structured such with US requirements in mind

Cairn adds two SRT funds to its roster
Cairn Capital has raised $150 million across two significant risk transfer (SRT) funds - with differing mandates - according to an announcement by the firm

Recent CLO debutant Vista brings in GSO official to lead credit team
Vista Credit Partners has hired a former GSO official to lead its credit team

Missouri pension plan seeks alternatives consultant
The $8.2 billion Missouri State Employees’ Retirement System (MOSERS) is seeking an alternative investment consultants