Portfolio manager returns to BlueCrest after four years
The former head of BlueCrest Capital Management's US multi-strategy credit group has returned four years after his departure from the firm

CSO arrangers take notes from success of CLOs
CSO arrangers are looking to follow the CLO template in more ways than one, with sources indicating that some dealers are looking to structure their deals in note format (as opposed to swaps).

Fund performance: Presents under the tree as CLO funds perform

Credit funds at a glance

California pension earmarks $190 million for IG structured credit as it goes defensive
San Mateo County Employees Retirement Association has earmarked $190 million to a securitised credit managed account

CLO giant casts eye on CSOs with plans to hire credit derivatives trader
An asset manager with almost $40 billion in CLO investments is looking to hire a credit derivatives trader in Newark in a role which would include coverage of index tranches and CSOs

Jefferies shelves structured synthetic plans as key man departs
Jefferies has put on ice its plans to build out a synthetic CDO origination, structuring and trading unit, having parted ways with the veteran specialist tasked with driving the venture

Change at top for Citi correlation trading as head assumes chief risk officer job
A long-serving managing director at Citi has taken sole charge of correlation trading, after the previous head of credit correlation moved to a newly created role

Pimco launches listed multi-sector global credit fund
Known as Pimco Tactical Income Fund, the fund will invest in a range of global credit strategies and will list on the New York Stock Exchange

Apollo CLO and CSO specialists earn promotion to partner
Apollo Global Management has promoted two members of its global structured credit team, according to market sources

Stockholm-based firm targets CLOs, CSOs and SRTs for new fund after stellar 2019
A fund manager, established in 2018, is said to be launching its second corporate structured credit fund, sources say, after generating 20% returns last year via its debut strategy. The new fund will invest across CLOs, CSOs, SRTs and index tranches 

Napier Park beats 47 managers to win pension's lucrative credit mandate
Napier Park Global Capital has emerged as the winner for a $500 million illiquid credit mandate for Los Angeles County Employees Association, after the pension recieved 48 responses to its original request for proposal 

If you're marketing a structured credit fund then for goodness sake don't go through the motions [podcast]
Credit allocators gave some sage advice to structured credit managers on how to go about marketing their funds at the Creditflux CLO Summit in New York last month. As part of a key note panel geared towards institutional investors fund managers were told: stop going through the motions, avoid being generalistic and tailor your pitches

Assured Guaranty Corp hires CLO specialist to co-lead structured finance group
A former CLO specialist from Mizuho will join the firm as senior managing director 

Former structured credit co-head Messina lands on buy side
Megan Messina, former co-head of structured credit at Bank of America, has resurfaced at an asset manager three years after leaving the bank

Don’t get too comfortable. The truth is there are hundreds of things that could be catalysts for a sell-off
Just because there’s no obvious sign of a sell-off, doesn’t mean it’s not going to happen. Often, market moves defy logic

‘Buying the dip’ is going to be a poor investment strategy when the next downturn comes
The next credit downturn will be shallower but more prolonged than the last, so what works will be different, too

CSO arrangers look to build on $65bn of issuance in 2019
The synthetic bespoke tranche market this year has fallen short of expectations in terms of overall issuance volume, but ends with transformative inroads being made.

Falling correlation reignites passion for index tranche trades
Dispersion in the global corporate credit market is rekindling interest in correlation trading, with dealer sources reporting that a late surge lifted 2019 index tranche volumes to $250 billion.

Pitching your structured credit fund: the three golden rules
Structured credit fund managers were given a lesson in how to market their strategies by a group of asset allocators at the Creditflux CLO Summit in New York.

Fund performance: Long-short funds rule in October as CLO funds struggle
A round-up of fund performance

CLOs at a glance: innovations arrive as year draws to close

CLO tranche investor leaves Carlyle after 12 years
The New York-based co-head of global structured credit has parted ways with Carlyle, sources say. The firm is understood to have appointed a replacement in London