Iran War to increase corporate default rates globally — IACPM Survey
Though the credit market is absorbing new leveraged loan issuance amid geopolitical uncertainty, credit managers expect the war to drive a rise in defaults

Phantom Premium - Part 1: Why AAA CLO spreads reflect liquidity perception rather than credit risk
AAA CLO spreads have carried a persistent spread premium to corporate IG since the GFC. The standard explanation for this premium is familiar: credit risk, complexity, and a narrower buyer base. But recent evidence challenges that story. If the premium is not primarily credit, then what is the market pricing, and what would make it converge?

Europe's nationally focused M&A law firms see opportunities amid transatlantic tensions
ANALYSIS: Nationally focused law firms emphasise trust, privacy, tailored advice; super-boutique Slaughter & May continues with 'Best Friends' on the Continent

Schroders, InPost deals boost 2026 takeover pipeline by EUR 19bn
InPost agrees EUR 7.8bn deal with Advent, FedEx; modest premium for Schroders may open for rivals

Aegon AM launches fund for subscription line financing
The new fund will raise capital from institutional investors in Europe and the UK

Apollo goes on post-Liberation Day buying spree
The alternative asset manager took advantage of public market credit opportunities as liquidity dried up

Credit funds at a glance - January 2025
Fund performance, recent hires, recent fundraising

Fund performance - December 2024
CLO funds cap off strong 2024 with yet another good month

Janus Henderson highlights agency mortgages in new fixed-income ETF
John Kerschner views agency mortgages as the cheapest thing in fixed-income and has a high allocation for the new JIII ETF   

Apollo plans market’s first private credit ETF
State Street and Apollo are teaming up for the market's first private credit ETF, with a focus of investment grade private debt.

BNP Paribas announces negotiations to buy AXA IM
BNP Paribas said it entered exclusive talks to buy AXA's asset management unit and set-up a partership for EUR 5.1bn

Australian money manager plans to launch AUD 1bn IG fund
An Australian alternative asset manager is planning to launch a new AUD 1bn investment grade debt fund, drawing on the country's pension system as a major source of fundraising

BlackRock expands investment grade private credit team
BlackRock has hired a senior executive from Pacific Life to lead the firm’s investment grade private placement platform