Jefferies creates team and aims to build CSO business
Amid mounting buy-side interest in the synthetic CDO market, sources say that Jefferies is looking to build a US business arranging these transactions  

Hedgers stay put as crossover roll drives trading
Market participants who were positioned short the iTraxx Crossover index, including those using it as a proxy hedge for CLOs, ABS and emerging market credit, are showing greater reluctance than usual to roll into the new series

Points up front: clickbait headlines? Us?
Last month ABS specialist TwentyFour Asset Management wrote a blog titled, “The next crisis will begin with... clickbait headlines”. He's not referring to us, surely?

August: fund performance
CLO spreads jumped wider in August, but funds that invest in these assets have been able to outperform

September: credit funds at a glance
White Oak Global Advisors held a $2.1 billion final close on a new direct lending fund, while Phil Raciti's move from CVC Credit Partners to Halcyon Capital Management was one of the biggest moves in the credit industry

Santander issues £1.1 billion SRT featuring UK project finance loans
Banco Santander has completed a £1.12 billion significant risk transfer through a transaction dubbed Fitzroy 2018-1 CLO

Lord Abbett markets new credit interval fund
The asset manager becomes the latest to join the interval fund rush 

CLO veteran parts ways with Tetragon
A senior structured credit veteran has departed Tetragon, according to market sources

M&G targets £250 million for UK-listed multi-strategy credit fund
M&G is targeting £250 million (£328.6 million) for a new closed-end investment trust, which will be listed in the UK

CRE CLOs poised to grow by as much as 40%
The CRE CLO market will grow in 2019 over 2018 as cross-over CLO investors get more comfortable with the simpler, shorter duration structure, said speakers at IMN’s ABS East conference in Miami

Cairn adds to its SRT investment team in London
Cairn Capital has appointed Chris Cottrell as senior investment analyst

BlackRock becomes latest manager to explore interval fund structure for credit
Several managers have hit the market with the interval fund structure, as investors look to invest in illiquid strategies through an illiquid fund structure

African Development Bank prices landmark $1 billion SRT
The market for significant risk transfer (SRT) deals has taken another step forward with a first-of-its-kind deal, which has been originated by the African Development Bank

American Beacon teams up with Apollo for credit interval fund
Regulatory filings reveal that Apollo will allocate assets across four main areas: US corporate credit, global corporate credit, structured credit and real estate credit

Crossover users face waking up to much tighter index amid credit selection rule change
September could bring the biggest conceptual repurposing of the iTraxx Crossover index since its series 22 expansion, with IHS Markit set to overhaul rules governing how constituent credits are selected

Dealers show appetite to retain tranches amid CSO growth
There are increasing numbers of dealers involved in the CSO market and their approach to issuing bespokes is evolving, attendees at Creditflux’s Credit Dimensions conference heard last month.

Past returns: secret CLO market
Five years ago in Creditflux, we reported on the emergence of an inter-dealer market for CLOs

Points up front: super senior CSO investors wanted
As part of a vibrant opening panel at Creditflux’s Credit Dimensions event in New York last month, we came tantalisingly close to issuing a managed CSO in front of a live audience (if you ignore formalities such as warehousing risk and sourcing single name CDS)

Being long-only is just so 1980s
At the Credit Dimensions event in New York, structured credit investors looking to spruce up or repair their portfolios were advised to look at CSOs, index tranches and credit default swaps

Brigade prices triple Bs tight of double As with second CBO of 2018
Brigade Capital Management priced its second CBO of the year on Friday named Brigade Debt Funding II

Partner leaves Cheyne after five years at the firm
A marketing official, who has covered loan funds and synthetic credit strategies, has left Cheyne

Italian bank completes SRT with European Investment Fund support
Banca Popolare di Bari has constructed a €174.5 million significant risk transfer (SRT) deal, which features a vertical risk sharing mechanism

Hildene revives trups CDO market with new securitisation
Hildene Capital Management became just the second firm this year to price a Trups CDO yesterday

New York manager prepares interval credit fund launch
A structured credit fund manager is joining the interval fund rush