Credit funds at a glance (November 2022)
A round up of fundraising and people moves in credit

Franklin Templeton wraps up deal for $35bn Alcentra
Franklin Templeton has completed its acquisition of BNY Mellon’s $35 billion credit unit Alcentra

Private equity firms are becoming CLO converts: TwentyFour
Private equity firms have increasingly bought CLO and other securitised debt tranches in recent weeks instead of their usual preference for physical assets - a trade TwentyFour believes "makes perfect sense"

Angelo Gordon makes senior hire to cater to insurance company investors
Angelo Gordon is expanding into investment solutions for insurance companies after hiring from JP Morgan 

Credit funds at a glance (October 2022)
A round up of fundraising and people moves in credit
 

   

Waterfall pair earn promotion to partner
Waterfall Asset Management says it has appointed a residential loan specialist and a structured credit investor to partner 

Credit funds at a glance (August 2022)
A round up of fundraising and people moves in credit
   

Credit Rendezvous: Investors try to avoid suplex city as recession and inflation reform tag-team
Credit investors getting ready to lock up against that familiar 1970s pairing of inflation and recession. But the hard-hitting tag team has picked up some new moves, causing floating rate outperformance to give way to underperformance; synthetic credit to outperform cash; and CLO terms curves to reshape into barely recognisable positions

"If anything is to be salvaged from the rest of 2022, the economy needs a hero — and quickly"
Something has gotta give as a recession looms in the US. Might it be energy?

Credit funds at a glance (June 2022)
A round up of fundraising and people moves in credit  

CLO investors show more signs of optimism than other ABS: Barclays
CLO investors attending the Global ABS conference in Barcelona were more upbeat than those that work in residential mortgage-backed securities and other ABS, say Barclays securitised credit strategists. But the overall mood was sombre

Credit funds at a glance (June 2022)
A round up of fundraising and people moves in credit
 
   

Credit funds at a glance (May 2022)
A round up of fundraising and people moves in credit
   

Dispersion begets dispersion in mixed bag of fund returns
Idiosyncratic risks are set to rise in credit, with fund managers becoming occupied with tail risks, and that has been seen in a scattered set of March hedge fund returns

CRE CLO episode shines light on CLO get-out clauses
Market disruption clauses are rare in CLO warehouse agreements, but litigation surrounding a cancelled 2020 CRE CLO underlines how these can give CLO issuers added flexibility in a doomsday scenario

Court orders Bancorp to repay Waterfall's deposit from cancelled CRE CLO
An affiliate of Waterfall Asset Management has won its dispute with Bancorp Bank over a proposed CRE CLO transaction that was terminated in early 2020 owing to “market disruption”  

Credit funds at a glance (April 2022)
A round up of fundraising and people moves in credit  

Credit funds at a glance (March 2022)
A round up of fundraising and people moves in credit

Credit funds at a glance (February 2022)
A round up of fundraising and people moves in credit

Credit Rendezvous: the upside of inflation
It is clear, inflation is not transitory and central banks are acting with several interest rate hikes likely in store for the US this year. That makes loans and CLO debt tranches attractive, but there could be opportunities beyond these floating rate assets

Credit funds at a glance (January 2022)
A round up of fundraising and people moves in credit

Infra CLO becomes first to opt for solely Sofr benchmark
The first CLO to dine completely on Sofr tranches wasn’t a run-of-the-mill deal. Instead it was an infrastructure-loan securitisation issued by Starwood Capital at $500 million, named STWD 2021-SIF2, according to market sources