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

Azimut hires ex-Dyal official as it aims to buy minority equity in asset managers
Azimut will initially focus on acquiring minority stakes in alternative asset managers with under $3 billion AUM – including private credit, private equity, infrastructure and real estate firms

LibreMax wins $200 million for structured credit managed account
The managed account will target 10 to 40 investments across a range of different strategies including CLOs, consumer, residential, commercial and regulatory capital.

Imperial appoints head of structured credit and special situations
Imperial Capital has appointed Mark Green as head of special situations and structured credit, according to an announcement by the firm

Inflows boost structured credit mutual funds
Low rates have seen loan mutual funds battle $42 billion of outflows this year, but structured credit funds have been able to grow while capitalising on this volatility, according to sources.

Fund performance
A round-up of fund performance click here.

Senior structured credit official leaves GoldenTree
A senior portfolio manager has parted ways with GoldenTree Asset Management, it has emerged

Indiana pension hires ICG as it shakes up credit portfolios
Indiana Public Retirement System (INPRS) has shaken up its credit and fixed income allocation, either by committing to new funds, or by restructuring its portfolios, according to documents seen by Creditflux  

Highland LP’s bankruptcy could trigger power grab, as hunt for assets begins
Creditors to Highland Capital Management's limited partner subsidiary are calling for a change of management to handle the firm's emergence from bankruptcy protection

For a while, it seemed like every private equity fund was launching a credit fund

It may seem a bit rich for Welshcake to tell staid CLO investors they need to be more sensible
Bespokes are the next big thing — and you’d be wise to get involved

Veteran Ulmer targets array of private credit for new firm
Andrew Ulmer, who led the structured finance expansion at Brevan Howard, has resurfaced with his own asset management company, 1543 Capital, according to documents seen by Creditflux.

Fund performance
A round-up of fund performance