Manager shrinks in distressed and explores US direct lending sale: Debtwire
A global asset manager has a fresh set of priorities for its global credit platform with distressed debt and US direct lending moving down the pecking order

Indiana pension allocates $160 million to CLO dislocation strategy and real estate debt
Indiana Public Retirement System has allocated $160 million to two credit funds focused on CLOa and real estate debt, according to recently released board documentation

Colorado pension allocates $70 million to CLO debt strategy
Colorado Fire & Police Pension Association approved a $70 million commitment to a CLO debt strategy at its 5 November board meeting

LP round up: $2.8 billion flows to credit as Apollo concedes fundraising may slow
Florida Retirement System Trust Fund made the largest commitments allocating $1.6 billion. Apollo meanwhile acknowledged a potential slowdown in fundraising as investors await results on an independent review into CEO Leon Black's relationship with Jeffrey Epstein

Skews flip in Europe after IG credit indices lead rally
Credit spreads are budging wider this morning after a relentless rally this week which culminated in iTraxx Main tightening 4.2bp (7.2%) and iTraxx Crossover tightening 18.8bp (5.54%) at the close yesterday

Wriedt’s boutique vehicle eyes rent-to-own strategy
Long-time CLO specialist Oliver Wriedt is pursuing opportunities across a range of sectors as part of his new business, which seeks to make minority equity investments in boutique asset managers

Credit rally slows but structured finance funds gain
Corporate credit spreads levelled off in September, which means that 63% of funds in the Creditflux database have just a single quarter left to make it to positive returns for the calendar year.  

Fund performance: Structured finance finds its footing with credit rally
For the first time this year we have seen a structured finance fund take the top spot, as Serone Key Opportunities Fund leads a multitude of other funds in this category in the top 10 of our monthly fund rankings

Ucits at a glance: European funds and CLOs head rankings
Ucits fund returns

Credit funds at a glance (November 2020)
A round-up of fundraising and people moves

Credit hedge funds (November 2020)
Monthly credit hedge fund tables

Credit fundraising: Dubai manager gets in on the act as direct lending takes off
Shuaa launches credit fund in the Gulf as Ares, Contingency, HPS and Perceptive are among those to close billion-plus funds

New York pension allocates $250 million to CLO fund
New York State Common Retirement Fund has allocated $250 million to a CLO-focused vehicle, according to a recently released September transaction report

Apollo appoints head of credit valuations from sell-side
Apollo has appointed a head of credit valuations, as its previous head of credit valuations has transitioned internally to cover private equity valuations

Stepstone subsidiary raises $35 million private markets fund for high net worth individuals
Conversus has closed an inaugural private markets fund, Conversus StepStone Private Markets, at $35 million

Ares holds €6.97 billion first close on European direct lending fund
Ares Management Group has collected $12 billion in gross credit commitments over the third quarter of the year, according to the firm’s earnings presentation, including $8.2 billion for the first closing of its fifth European direct lending fund

Sun Life Financial buys 51% stake in Crescent
Sun Life Financial has bought a 51% stake in credit manager Crescent Capital Group as part of its push into alternative credit

Alcentra hires Mulshine as head of US distribution
Alcentra has hired a new head of US distribution from Lazard

Credit Rendezvous: sometimes you have to dive deep to find value
Some parts of the credit market are fraught with danger, but that does not mean portfolio managers are avoiding them entirely, according to the Credit Rendezvous, Creditflux's 10-page quarterly report eaturing comments from 15 credit experts

New York fund manager hires former Ellington CSO specialist
A credit fund manager has hired a structured credit specialist to cover corporate credit and structured credit products such as CLOs and CSOs

Mallinckrodt takes chapter 11 prescription as CLOs hold $650 million
CLO managers hold around $657.8 million debt of Mallinckrodt, a Dublin-headquartered biopharmaceutical company that has filed for chapter 11 protection in the US Bankruptcy Court for the District of Delaware

Morgan Stanley to buy Eaton Vance for $7 billion
Morgan Stanley is set to buy Eaton Vance for an equity value of $7 billion as part of a broader push into wealth management

Credit hedge funds (October 2020)
Monthly credit hedge fund tables

Ucits at a glance: Advent and Algebris edge towards double digit returns
Two managers stand out in the Ucits rankings as they close in on 10% YTD figures

Credit funds at a glance (October 2020)
A round-up of fundraising and people moves