GoldenTree adds partner to its structured credit team in London
GoldenTree Asset Management has made a big hire to its London office with a structured credit specialist joining as partner

ArrowMark builds in London with big SRT hire
ArrowMark is one of the biggest investors in the SRT market, but unusually it conducts most of its business out of the US. It has now added to its presence in London with an experienced official joining its SRT business

White & Case bolsters CLO practice in London
White & Case has expanded its CLO and securitisation practice with the appointment of a CLO specialist 

BlueBay hires experienced portfolio manager to join new structured credit team
Fixed income specialist BlueBay Asset Management has bolstered its new structured credit business with an experienced hire

Axiom puts tranches at core of push into synthetic credit
Axiom Alternative Investments is set to target both index and bespoke tranches with the launch of Axiom Synthetic Credit Opportunity Fund.

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

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

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

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

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

BNP Paribas hires experienced structured credit trader in London
BNP Paribas has hired structured credit trading specialist James Moi to its business in London  

Steep climb: dealers and investors cross-examine merits of five-year CSOs
The market for bespoke tranches of credit synthetic obligations (CSOs) looks set for further year-on-year growth, but this could depend on expanding activity to longer tenors

High profile figure in SRT market leaves Nomura in London
A well known figure in the significant risk transfer (SRT) space has parted company with Nomura in London, sources say.