SRT market keeps pumping deals as Greek and German banks free up capital
Dealflow in significant risk transfers is picking up, with a €2.7 billion Greek mortgage and SME lending deal and a €2.1 billion German corporate loan transaction printing in recent days

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

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

Seeds sewn for carbon credit market to flower into CLOs
Long-time structured credit specialist Jan Phillip Wassenaar has joined start-up NatureCredits as a senior advisor to support the evolving carbon credit industry

LP round up: 28 credit managers win $6.6 billion as San Diego carves private credit allocation
Pensions allocated over $6.6 billion to credit managers in June including Angelo Gordon, Antares, Apollo, Ares, Beach Point, BioPharma, Brookfield, CarVal, Cerberus...

A&M makes securitisation breakthrough with SRT for Polish bank
Alvarez & Marsal says it has completed its first securitisation as sole arranger after completing an SRT referencing a pool of housing community loans

Citi structured credit specialist leaves after 15 years
A key figure in Citi’s European structured credit business since 2007 has joined Julius Baer as head of corporate finance advisory

Italian €1bn SRT underlines advantage over CLOs and CSOs
The European CLO market has ground to a halt for the last three weeks, but a €1 billion SRT signed this week underlines there is appetite for some securitisations

USS makes ABS breakthrough with £1 billion-plus mandate
USS says it has launched its first ABS mandate which is “likely to exceed £1 billion {$1.2 billion]” over the next couple of years

Paul Hastings adds to structured credit expansion with London partner hire
Paul Hastings has added to its push in structured credit with the hire of a partner to the team in London

Former Jefferies Emea structured credit co-head resurfaces at Canadian pension firm
The former co-head of Emea securitised markets at Jefferies has been hired as head of European structured credit at Alberta Investment Management Corporation

ArrowMark targets $300 million for commercial real estate
ArrowMark Partners is targeting $300 million for a structured finance real estate fund

Hopes of full recovery quashed as credit funds struggle
Optimism about a prolonged recovery after credit hedge funds bounced back in March was dashed as 60% of funds in our database recorded negative returns in April.

Fund performance: Credit hits another bump in the road after March revival
There was more upheaval for credit funds in April, reversing the mini-recovery in March as 40% of funds made positive returns, a decrease on the 47% in March

Credit hedge funds (June 2022)
Credit hedge fund returns

   

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

400 Capital targets $600 million for opportunistic structured credit fund
The fund is targeting a $600 million final close next month with target net returns of 12-15%

Bespoke bond baskets on the rise as investors seek targeted portfolio trades
High yield index replication and accessing illiquid exposure are two factors building momentum for a new investment approach that bundles bonds into a single risk piece

Chenavari takes three-pronged approach with new specialty finance fund
Chenavari has raised capital for a specialty finance fund, officials at the company have confimed to Creditflux. The fund, the firm’s latest vintage private credit strategy, launched in February

Fidelity International makes senior direct lending hires in private credit push
Fidelity International has been staffing up in European direct lending, with 12 additions to the private credit team that was established a year ago