Credit hedge funds
Credit hedge fund performance for July 2024

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

US spending remains resilient despite financial worries
Consumption accounts for just under 70% of the GDP of the world’s largest economy. The good news is that (repeated) reports of the death of the US consumer seem greatly exaggerated.

Octaura launches new protocol for CLO liquidations
Electronic loan trading platform Octaura has released a new set of processes to streamline loan BWICs and OWICs

Blackstone’s head of liquid credit Rob Zable set to leave firm
One of the biggest names in the CLO world is making a change, with Rob Zable leaving Blackstone by the end of the year

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

CLO strategies outperform again
In 2023, our index of funds investing in CLO tranches and equity returned 22.9%. In the first six months of this year, the index reached 9.9%, as these funds again delivered outstanding results

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

By raising billions, private credit funds are causing a seismic shift in leveraged finance
Private credit funds are amassing a huge war chest that’s permanently changing the complexion of the leveraged finance market

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

This year sees elections affecting about 49% of the world’s population
There are many reasons to fear the populist right, but markets are more scared of uncertainty

Credit hedge funds
Credit hedge funds

Credit funds at a glance
Credit funds at a glance

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