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Default expectations rise as tariff threats to North America deepen – IACPM survey
6 days ago
Credit portfolio managers across the world see tariff-related headwinds for both the US and Canada -
Connecticut, San Francisco among funds making new private credit moves – Public Pensions, Private Pursuits
1 month ago
EXCLUSIVE: Connecticut plans commitment to Anchorage Capital distressed credit funds; San Francisco, North Dakota, and Dallas funds disclose recent commitments -
Marathon ditches distressed strategy to raise USD 2.7bn for opportunistic credit
3 months ago
EXCLUSIVE: The asset manager originally launched the fund with a distressed debt strategy but has since switched the focus to making opportunistic private credit and equity investments -
Competition for deals and rising rates encourage greater use of PIK clauses
9 months ago
Despite improving conditions in credit, the number of private credit deals paying payment-in-kind (PIK) interest is staying at high levels — but the drivers are changing -
Special situations funds shift from distressed debt to flexible, all-weather capital strategies
9 months ago
As struggling companies turn to liability management techniques to gain the upper hand against lenders, a new bankruptcy-lite environment is forcing funds to play across the capital stack -
European direct lending firms raise record funds in third quarter
9 months ago
European direct lending fundraising jumped up a notch last month, as year-to-date figures almost doubled in a few final closes -
European distress remains muted but trouble is brewing in Industrials
9 months ago
European Industrials rose to be the second most distressed sector in August, according to a new report based on the Weil European Distress Index -
BNP Paribas AM raises EUR 90m for private debt fund of funds
9 months ago
A new fund of funds from BNP Paribas AM will target European special situations by investing in 6 to 8 private debt funds -
Defaults hit 5% YTD for US private debt-backed companies according to Fitch
9 months ago
The monthly default rate for North American private credit-backed companies hit 5% in August, driven by PIKs and interest deferrals -
Private credit default rate rises sharply, according to new report
11 months ago
The second quarter of 2024 saw a further increase in the default rate for US middle market companies, according to legal firm Proskauer's latest report -
Connecticut pension allocates USD 300m to Oaktree’s distressed credit fundraising
11 months ago
Connecticut pension system commits to Oaktree latest flagship distressed credit fund -
Akin Gump hires Paul Hastings partner for private credit practice
1 year ago
The New York-based partner will join the growing special situations and private credit practice. -
Dallas retirement system allocates USD 60m to credit funds
1 year ago
The Dallas Employees' Retirement Fund has allocated USD 60m to three separate credit funds as the Texas-based system grows its allocations to private credit and distressed debt -
Proskauer poaches pair of credit partners from Milbank
1 year ago
Proskauer Rose continues to build out its team with the addition of Eric Reimer and Gayle Berne as partners in the global finance practice -
CLO portfolios may need check-up as healthcare sector continues to deteriorate
1 year ago
Reimbursement challenges and high labour costs are expected to continue to drive restructuring activity among healthcare companies this year following a busy 2023. -
Oaktree raises roughly USD 3bn for third special situations fund
1 year ago
Oaktree upsizes third fund that primarily invests in stressed or distressed US middle-market companies -
Florida pension system allocates to three alternative funds
1 year ago
Three funds received commitments from the City of Hollywood Employees' Retirement Fund including an opportunistic credit fund and a direct lending fund -
US CLO credit Air Methods Corporation files for bankruptcy
1 year ago
Air Methods Corporation, a widely held name in the US CLO market, filed for Chapter 11 this morning reporting USD 1bn to USD 10bn in liabilities. -
DebtDynamics North America: Likely-to-distress scores highlight struggling industries
1 year ago
Out of a universe of more than 12,000 leveraged US companies, 180 are in the stressed/distressed lifecycle categories -
Fitch raises low end of its default forecasts for US leveraged loans and high yield
2 years ago
Fitch Ratings has increased the low end of its US leveraged loan and high yield default forecast ranges to reflect growing macroeconomic headwinds -
Not every CLO can be a winner
The CLO industry has undeniably performed well enough to justify the plaudits it receives. But there will always be some unloved CLO tranches that slip into triple C territory -
Cineworld buys ticket for DIP facility with chapter 11 filing
2 years ago
Cineworld filed for Chapter 11 in the US Bankruptcy Court For The Southern District Of Texas on Wednesday, less than a month after the UK-based cinema operator announced Chapter 11 was among the options it was considering to “achieve its restructuring objectives” -
Lumileds trips chapter 11 fuse, causing CLOs to suffer another default
2 years ago
CLOs hold $596 million debt of lighting manufacturer Lumileds, which filed for Chapter 11 protection in the United States Bankruptcy Court Southern District Of New York on Monday -
Russia auction prep on pause after last minute scramble
3 years ago
The Credit Derivatives Determinations Committee has put on pause its preparation for a credit event auction to settle Russian Federation CDS, amid reports the country has made good on sovereign debt payments right at the wire -
Russia extends rally as DC rules against repudiation / moratorium
3 years ago
Russian Federation CDS contracts rallied strongly for a second day on Thursday, after the Credit Derivatives Determinations Committee ruled a repudiation / moratorium had not occurred on the country's sovereign debt
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