Axa IM launches multi-strat fund for pensions
Axa Investment Managers’ ‘alternatives’ business has launched an open-ended strategy for pension funds

UK pension readies £1.3 billion listed alternatives fund
The fund will provide liquid access to infrastructure, specialist real estate, private equity and alternative credit

Credit Rendezvous: Credit spins full circle
The third quarter was massive in terms of volumes with CLOs, high yield, leverage loans and private equity registering record issuance. But credit spreads were up and down as inflation fears, crackdowns in China and rising coronavirus cases became catalysts for risk-off sentiment in July and September

Denham hires PM in $2 billion infrastructure credit build-out
Infrastructure investment firm Denham Capital has hired a portfolio manager as part of its expansion into sustainable infrastructure credit

Pretium hires senior PineBridge official to spearhead middle east expansion
Pretium has established a presence in the Middle East with the opening of a Dubai office and has hired a managing director from PineBridge to lead the charge

Brevan Howard buys stake in structured credit fund manager led by former employee
1543 Capital and Brevan Howard have strengthened their ties with market sources indicating that Brevan Howard has acquired a minority equity stake in the manager

Credit Fundraising: September breaks 2021 record and poses question - is it sustainable?
The third quarter ended with $36.5 billion being raised in credit last month, doubling July and August figures. Several of the new funds have embedded Sustainable Finance Disclosure Regulation or ESG criteria at the heart of their investment thesis   

LibreMax collects $225 million for structured credit fund
LibreMax Capital has closed its fifth drawdown vehicle, LibreMax Structured Opportunities Partners I, at $225 million

Co-head of Blackstone's GP stake-buying business to join Angelo Gordon
Angelo Gordon has snapped up a big name from Blackstone

Pretium swoops for three managing director hires to residential credit business
Pretium has made three managing director hires to its residential credit business in New York 

Credit Rendezvous: And breathe...
The unanimous verdict is that credit spreads will be moving wider – they have to. But the difficulty credit fund managers face is predicting when the next sell-off comes and how sharp it will be. In the Q3 instalment of Creditflux’s Credit Rendezvous, the over-riding message from portfolio managers is that there’s little point in taking on too much risk. The report features the views of prominent credit figures including Paul Horvath (Orchard), Himani Trivedi (Nuveen), Ronnie Jaber (Onex), Graham Rainbow (Alcentra) and Michelle Russell-Dowe (Schroders). The report looks at 14 segments of the market including CLOs, direct lending, leveraged loans, distressed debt and credit derivatives.  

Fund performance: Déjà vu as April leaders dominate
CLO funds stayed in the top flight for another month as they took over the top 10 credit hedge fund return table in May, when 87% of all funds listed made positive returns

Credit funds at a glance (July 2021)
A round up of fundraising and people moves in credit

Credit fundraising: managers take care of infrastructure with new partnerships
Credit managers were busy launching new partnerships to support growth in infrastructure and CLOs. There were 13 announcements in the month paving the way for upcoming funds, platforms, and joint ventures

Update: Kayne to split from CLO and credit opps units
Kayne Anderson is set to spin out its CLO business

CarVal exceeds target with $3.6 billion distressed credit fund
CarVal will invest in distressed credit including acquiring loan portfolios, investing in corporate securities, structured credit and hard assets

HSBC AM names CEO of new $53bn alternatives business
HSBC Asset Management has become the latest manager to bring together its ‘alternatives’ capabilities under one roof, with the launch of a new unit, HSBC Alternatives

Schroders unites private market divisions under Schroders Capital umbrella
Schroders has united its private market capabilities under a new umbrella branded Schroders Capital

Fund performance: CLO funds outperform as two hit over 100% 12-months return
CLO funds swatted away the competition in April on their way to dominating our top 10 credit hedge fund return table after an upbeat month

CPPIB reveals $600 million in credit investments across France, India and US
Canada Pension Plan Investment Board has revealed $600 million in credit allocations to three managers

Schroders and Oaktree launch global credit ucits fund
Schroders has partnered with Oaktree Capital Management to launch a global multi-strategy credit fund, Schroder GAIA Oaktree Credit fund, which will sit within Schroders' alternatives ucits platform

Orion crosses $1 billion mark with third energy credit fund
Orion Energy Credit Opportunities Fund III will invest in middle market infrastructure credit 

Fund performance: Lightning strikes twice as range of credit funds deliver
What seemed like a chance occurrence in February has struck again in March, as seven categories make our top 10 best performing hedge funds

CLOs are here to help with infrastructure expansion
Issuers of CLOs backed by infrastructure debt are looking forward to a boom as investors turn to infrastructure projects as a way out of the pandemic slump

Credit Rendezvous: ready and waiting
In Creditflux's quarterly review of credit, portfolio managers tell us that Inflation is likely to nudge higher but they are optimistic because dispersion will pick up and windows of volatility will emerge, rather than elongated phases of stress