Credit funds at a glance (October 2022)
A round up of fundraising and people moves in credit
 

   

Credit hedge funds (October 2022)
Credit hedge fund returns

   

Dispersion picks up as candidates for distress emerge
Dispersion will be a concern for all parts of the global credit market in the fourth quarter, say traders who are focused on relative value

Neuberger Berman hires structured credit portfolio manager from AIG
Neuberger Berman has hired a managing director and portfolo manager in its private placement team focusing on ABS and structured transactions

Experienced structured credit trader to join bank after leaving Credit Suisse
Credit Suisse is set to lose a trader with almost 17 years experience at the firm to another bank in New York

Nomura readies multi-strat credit interval fund launch
Nomura Private Capital is readying the launch of a new, closed-ended interval fund which will invest across the credit spectrum - including bonds, loans, CLOs, distressed debt emerging market debt

Vista hires from Anchorage to lead credit platform investor relations
Vista Equity Partners has appointed Michael Charlton as managing director for capital and partner solutions, responsible for investor relations on the firm's credit platform Vista Credit Partners

Waterfall pair earn promotion to partner
Waterfall Asset Management says it has appointed a residential loan specialist and a structured credit investor to partner 

Structured credit cited by 42% of investors looking for fixed income replacement, Aeon finds
Institutional investors are largely looking to reallocate away from the fixed income market amid the macro-environment of rising interest rates, inflation and poor returns, according to a survey by Aeon

Credit structuring head lands at Deutsche Bank in expanded role
Deutsche Bank has hired former Credit Suisse global credit structuring head Paul Bajer in a broader remit as global co-head of cross asset structuring

Position cutting tames market rally and strategists warn on primary impact
Caution is the watchword across financial markets on Tuesday, with the strong recent run giving way to hedging and position cutting ahead of a much-anticipated US inflation reading on Wednesday

LP round up: private credit takes big slice of inflows as 10% portfolio share projected for 2026
Institutional investors revealed nearly $4 billion allocations to credit funds in July, with recipients including Angelo Gordon, Apollo, Ares, BlackRock, Brookfield, CarVal, Comvest, Deerpath, KKR, Schroders and Sixth Street

Schroders beats five to win structured credit mandate as pension terminates Franklin Templeton
Schroders has beat out five other credit managers to win up to $108 million for a securitised credit mandate from a US pension. It comes after investment consultant RVK recommended to terminate the pension’s investment in Franklin Templeton due to “underwhelming performance and decreasing assets”

Credit funds at a glance (August 2022)
A round up of fundraising and people moves in credit
   

Credit hedge funds (August 2022)
Credit hedge fund returns  

Fund performance: Select funds shine in dreary June for credit hedge funds
Credit funds suffered through June, as only 8% of listed funds reached the black. This made June the fourth month in a row in which negative returns increased

Axonic holds first close on closed-end fund for real estate debt and CMBS
Axonic Capital has launched a closed-end fund to invest across commercial real estate, CMBS and residential transitional loans

Taconic adds CMBS specialist to team in New York
Taconic Capital has boosted its CMBS business with an experienced hire

Credit Rendezvous: Investors try to avoid suplex city as recession and inflation reform tag-team
Credit investors getting ready to lock up against that familiar 1970s pairing of inflation and recession. But the hard-hitting tag team has picked up some new moves, causing floating rate outperformance to give way to underperformance; synthetic credit to outperform cash; and CLO terms curves to reshape into barely recognisable positions

Eagle Point expands into structured products including SRTs with big hire
Eagle Point Credit Management has hired a head of ABS, MBS SRT and specialty finance, in a move which underlines the firm’s progression from a CLO equity investor to a broader credit asset manager.

John Hancock and Marathon join forces on ABL fund with structured credit bucket
John Hancock Investment Management has teamed up with Marathon Asset Management for an asset-based lending fund, which can invest a portion of capital in liquid structured credit such as CLOs

SocGen promotes credit head in New York
Societe Generale has appointed a 20-year veteran of the bank to head of fixed income for the Americas

CSO equity investors line up deals amid dispersion threat
Synthetic bespoke tranche issuance has hit an impasse in recent months, denting projections for overall 2022 business at the mid-year point. But unlike the covid sell-off of 2020, wider spreads have created a queue of buyers ready to drive deals if condition

Fund performance: Rocky May piles on the misery for credit hedge funds
Negative fund performance soared in May

Credit hedge funds (July 2022)
Credit hedge fund returns