Euro refinancing flows reverse as public debt supplants private according to S&P
S&P Global Ratings has assigned new ratings for nine European issuers of leveraged buyout structures refinancing private debt in public markets

Restaurant failures push up consumer services bankruptcies
The consumer services sector has seen a significant uptick in chapter 11 bankruptcies in recent months, driven largely by filings from restaurant and bar companies

Fund performance
CLOs feel the heat from corporate long-short and ucits funds in July; top ten credit funds in July 2024

Credit hedge funds
Credit hedge fund performance for July 2024

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

Investors gear up for busy autumn at Goldman Sachs LevFin conference
More than EUR 20bn in bonds and loans is due to launch over the coming months, though the M&A pipeline looks relatively light

Abry Partners shifts public credit fund towards private credit with USD 1.6bn continuation fund
The new credit continuation fund, closed in conjunction with secondaries specialist Coller Capital, will reinvest assets into private credit

Davis Polk hires three fund formation lawyers from Debevoise
Law firm Davis Polk is growing its investment management practice with the addition of three new partners joining in New York

Fund performance
Prytania grabs gold; Spire and Sound Point take silver and bronze after June fund returns come in

Credit hedge funds
Our credit hedge fund performance tables for June

Credit funds at a glance
Top performers, recent hires and recent fundraising

Guardian transfers USD 30bn of assets to HPS as partnership deepens
Insurance company Guardian will increase its minority equity stake in HPS and transfer USD 30bn of assets as part of expanded strategic partnership 

iHeart secured group advisors in confidential talks with company
iHeartMedia, still an important name in the US CLO market, is back in the news, potentially impacting 482 different CLOs

Loan repricings continue to flood the primary market ahead of August lull
The US primary loan market has seen a steady flow of well-bid deals this week that were either upsized or priced tighter

Fund performance
Spire, Prytania and Serone funds enter top 10 dominated by CLOs; Leading fund: Alegra ABS 2

Credit hedge funds
Credit hedge fund performance tables

Credit funds at a glance
Top indices; recent hires; recent fundraising

Credit hedge funds
Credit hedge funds

Credit funds at a glance
Credit funds at a glance

LevFin fighting back to counter two years of direct lending dominance | DebtDynamics EMEA
Traditional lenders are battling to retake control of LBO funding from direct lenders, and syndicated leveraged loans appear to have the edge

John Hancock launches multi-asset credit interval fund
A new fund, managed by affiliate Manulife | CQS, will invest in multi-asset credit strategies and fixed-income asset classes  

CLOs and Private Credit can learn to coexist, conference hears
A discussion led by Debtwire's Head of Leveraged Loans Jelena Cvejic, brought together an audience of lawyers, CLO managers and private credit players to hear about the battle between the two. 

CLO funds maintain strong start to 2024 to stay top year to date
The first quarter of 2024 has been a memorable one for CLO funds, as the category continues its dominant spell, claiming 7 of the top 10 spots in March

Credit hedge funds
Credit hedge fund performance

Credit funds at a glance
Credit funds at a glance