Apollo launches daily pricing for all private credit strategies
The alternative asset management giant says investors will now get access to daily pricing for sub-IG credits; Apollo previously launched daily pricing for its investment grade credit assets in July

Retail and consumer credits show weaker fundamentals – BlackRock co-head of leveraged finance Mitch Garfin
PODCAST: There are opportunities in the market, according to Mitch Garfin, co-head of leveraged finance at BlackRock – but consumer and retail-oriented sectors are under pressure 

Prepare for a swift credit pullback when the bullish run ends – Deutsche Bank
The likely new US Federal Reserve chair may be more hawkish, and the progress made in artificial intelligence could disrupt credits in the software sector, DB analysts warn

Fund performance
Entering the final three months of the year, CLO funds took a clean sweep of the top 10 spots in the Creditflux tables. October was strong overall, as over 85% of funds listed made positive returns

Credit hedge funds
Credit hedge fund perfomance

Credit funds at a glance
Fund performance, recent hires, recent fundraising

CapitalLand expands into Australian private credit with Wingate deal
Singapore-based CapitalLand Investment has struck a deal to acquire both the corporate credit and property investment management businesses of Wingate Group

BNP Paribas sees credit upside in 2025, even amidst Trump-led unpredictability
The bank also sees CLO equity outperforming in 2025 benefiting from resilient loan fundamentals, strong cash flows, and the upside potential from reset activity

Carlyle raises over USD 7bn for credit opps fund
Carlyle today announced the final close of its third credit opportunities fund at USD 7.1bn in investable capital, marking the global investment firm’s largest credit fundraise to date

Silver Rock sells 42% stake to Mubadala
New York-based Silver Rock has agreed to sell a 42% stake to Mubadala Capital, but the two entities will continue to operate independently

Triton closes on over EUR 1bn for third opportunistic credit fund
Triton Debt Opportunities, the opportunistic credit arm of European investment manager Triton, has raised more than EUR 1bn

US corporate bond spreads hit all time tights
US corporate bond spreads hit all-time tights last week with both the investment-grade and high yield composite bond spreads in the US breaking records

Janus Henderson launches new fixed income ETF
Janus Henderson announced the launch of a new fixed income ETF today. Janus Henderson Income ETF (JIII) has a broad remit to invest across fixed income globally.

Credit hedge funds
Credit hedge fund performance data for September YTD 

DE Shaw closes on USD 1bn opportunistic credit fund
Alkali Fund VI is a closed-end fund targeting opportunistic investments across corporate debt, structured credit, synthetic securitization and other specialty investments

LME threat pushes creditors to join or die ad hoc groups, co-ops
Creditors looking to survive LMEs relatively unscathed increasingly have two options: join the majority ad-hoc group or hope debtholders organize under an inclusive cooperation agreement

Deals and prospective deals create optimism about European M&As
After years of lacklustre activity, M&A and LBO green shoots are emerging in Europe

Fund performance
August returns were largely positive for credit hedge funds, as 88% of those listed in the Creditflux database reached into the black

Credit hedge funds
Credit hedge fund performance tables as of the end of August 2024

Credit funds at a glance
Emerging markets, structured finance and US high yield outperform, plus our tables of recent credit hires and recent fundraising

European distress remains muted but trouble is brewing in Industrials
European Industrials rose to be the second most distressed sector in August, according to a new report based on the Weil European Distress Index

September 2024 US Leveraged Highlights
While new money activity in the loan market reached its highest point in the last 18 months in 3Q24, it remains significantly lower than historical averages

LBOs on the rebound: How leveraged loans are stealing the spotlight from direct lenders in 2024
2024 has seen a resurgence in LBO activity, with many of the largest deals opting for leveraged loans over direct lending for financing

September 2024 European Leveraged Highlights
Heading into the final quarter institutional loan volumes rose 171% year-on-year to EUR 150bn, while bond issuance doubled from last year to EUR 93bn

Private credit stands its ground against stiff competition from banks – Market Chatter
Despite an initial wave of fretting and fanfare, direct lenders have largely managed to retain an edge by proactively cutting margins on loans