AI to boost credit markets in 'bullish' 2026 – Janus Henderson head of multi-sector credit John Lloyd
A productivity boost powered by AI is just one of the reasons for investors to be upbeat about fixed income and credit generally, says John Lloyd, global head of multi-sector credit at Janus Henderson, on the latest episode of Credit Exchange with Lisa Lee

Bankruptcy 2.0 changes everything
CLO managers have been forced to take on restructuring experts and add new safeguards to loan docs. But with seniority of position upended, those moves may still not protect them

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

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

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.

Distress caused by LMEs triggers headache for recovery calculators
The growth of LMEs are triggering questions about how the US leveraged loan and CLO markets should record the outcomes of restructurings with multiple outcomes

Credit hedge funds
Credit hedge fund performance data for September YTD 

The second Trump presidency is likely to turbocharge already frothy markets
The impact of Trump’s second term in the Oval Office will be wide-ranging for the US and the world. For credit markets, his return to power portends more intense competition between banks and private credit, and frothier deals.

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

Belron’s record dividend deal opens path for more loan issuance
Leveraged loan investors have a message for private equity firms struggling to sell their portfolio companies and distribute cash to their LPs: try us for a dividend

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

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

Shenkman sees opportunity in ‘volatile, liquid bond market’ as it launches CBO
CBO issuance has been sporadic, but Shenkman, a long-time specialist in the market, believes that should change — and at the end of July priced Romark Credit Funding III

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

Taking stock after a long hot summer
As fall approaches, the global CLO and leveraged loan markets are in a strong position. But will records set in 2021 tumble?  We compare the numbers — and find out what the market thinks

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