BlueMountain hires fund distribution specialist from Paulson
BlueMountain Capital Management has poached Claudio Macchetto from Paulson and assigned him to the newly created position of head of platform distribution

Isda rules that Puerto Rico power company has triggered credit event
Isda’s Americas credit determinations committee ruled on Friday that the Puerto Rico Electric Power Authority (PREPA) has triggered a failure to pay credit event.

Saba to close London office, reports Reuters
$1.7 billion hedge fund manager Saba Capital Management is closing down its offices in London

Past returns: Spanish financials trade comes good
Five years ago, hedge funds piled into Spanish bank debt on the belief that a bail-out of Spain would leave senior bank debt investors unscathed. 

Tages switches Ucits fund to PSAM after recent hire
PSAM hire sees Tages terminate its agreement with Fore and hand over managerial responsibilities to PSAM

GoldenTree squares up for huge credit interval fund launch
GoldenTree Asset Management has partnered with a retail distribution giant on the latest example of a credit interval fund, according to SEC filings

Banco Popular becomes first credit to trigger new-style CDS
Isda’s credit determinations committee ruled on Friday that Spain’s Banco Popular has triggered a “government intervention” credit event on its credit default swaps

Things aren’t always what they seem
Buy CLO triple As but don’t be fooled by diversity scores; take a look at credit index futures if you need liquidity; and watch out for quasi-mid market loans appearing in CLOs

Past returns: mixing synthetics and ethics
In Creditflux 10 years ago we looked at how Société Générale was pitching an “ethical” synthetic CDO

Protection holders look to trigger default on HCR ManorCare CDS
Action follows Debtwire report that lenders have accelerated nursing provider's loans following a covenant breach

Senior European investment grade credit trader exits Citi
The head of investment grade single-name credit trading at Citi has left the bank after just nine months

Credit fund manager snaps up BlueMountain's CEO for Europe
BlueMountain has announced leadership changes following the departure of Nicholas Pappas - with sources informing Creditflux that he has signed up with another large fund manager as head of credit

Pension giant AP4’s Erlandsson joins Granit to raise green credit fund
Stockholm-based asset manager Granit Fund has made a big name hire in credit, taking on Ulf Erlandsson with a view to launching a new green bond hedge fund this year

Alva's 'disruptive' fund joins Creditflux listings
A London-based manager is making waves with a tech-focused credit fund

Investing ethically is worth it
Managers could see less volatile returns as a result of their increasing adoption of ESG-friendly portfolios; meanwhile direct lending is spreading across Europe

Past returns
We wind back the clock to the last time investors were hedging French credit ahead of an election and to when one of the best known CLO investors filed an IPO

Waterfall looks to add derivatives to its credit managed account
A US pension fund looks set to approve a change to its account with Waterfall, which will see the manager gain the ability to use derivatives as a hedging tool

Citi tests the market for three-year bespokes
There is increasing appetite for credit derivative risk with Citi looking to extend the maturity of its deals 

Citi promotes a familiar face to head European credit structuring
Citi has promoted a long-time Citi staffer to the role of head of credit structuring for the Europe, mid East and Africa region