Fund performance: A third of funds reach positive territory in 2020
August has been another successful month for the CLO category as seven of the top 10 funds invest primarily in CLOs

Former GoldenTree high-flyers launch structured credit firm in Los Angeles
A former GoldenTree senior portfolio manager and business development specialist have launched an asset manager that will invest across an array of structured credit, including CLOs, synthetics and private transactions

Brigade appoints ex-Schroders official as CEO
Brigade Capital Management has appointed a former Schroders co-head of fixed income as CEO 

Credit fundraising: managers build homes for real estate credit funds
The “largest ever real estate credit fund” was one of the fundraising highlights last month as Blackstone’s Real Estate Debt Strategies IV fund reached $8 billion on its final close

Voya loan co-head Norman set to retire
Dan Norman is set to leave Voya Investment Management, where he co-heads the senior loan team, at the end of the year

Aegon targets ABS for new fund
Aegon Asset Management says it has launched a global ABS fund with a return target of Euribor plus 500 basis points

LP round up: $5 billion flows to credit as private market allocations increase
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux

Barings and PGIM win loan and structured credit mandates as pension puts £2.7bn in credit
The firms will manage global syndicated loans, securitised credit, emerging market debt and global high yield credit for Border to Coast Pension Partnership's £2.7 billion ($3.43 billion) multi-asset credit fund 

Churchill appoints former Carlyle official to lead investor relations
Churchill Asset Management has appointed a former Carlyle Group official as a senior managing director and head of investor relations

Wriedt buys minority stake in direct lender Scio and joins as strategic advisor
Oliver Wriedt, the former chief executive officer at DFG Investment Advisers, has bought a minority stake in European credit asset manager Scio Capital

Post hires head of sales and marketing in Los Angeles
Post Advisory Group has hired Eileen Mancera as managing director and head of sales and marketing

Blackstone reveals CLO originator NAV was understated for four months
Blackstone says the net asset value of class A units in its privately-offered CLO originator were understated between 31 March and 30 June

Palm Lane launches credit relative value fund with $200 million after PM hires
Palm Lane Capital has raised about $200 million for a global credit relative value hedge fund, which went live on 1 September

Onex prepares structured credit fund after making big CLO hire
Onex Credit Partners has launched a new structured credit offering, Onex Structured Credit Opportunities Fund, four months after hiring structured credit veteran Ronnie Jaber

Alcentra appoints DeSimone as CEO
Alcentra has appointed Johnathan DeSimone as chief executive officer following David Forbes-Nixon’s decision to step down and take an investment role at the firm

Dislocation and costly payment debacle highlight loan tech lag
Coronavirus-led dislocation in the leveraged loan market, as well as a bank’s recent claims of human error in making a large loan payment, underscore the industry’s need to embrace long-overdue efficiency improvements

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

Ucits at a glance: Five funds lift YTD returns above 5%
Five funds have managed to pull their year to date figures above 5%; Loomis Sayles (7.50%), Algebris (5.82%), Pictet (5.53%), Amundi (5.36%) and Advent (5.11%)

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

Fund performance: Almost a third of credit funds reach positive YTD returns
July has been a successful month for many credit funds, despite the recovery peaking in May and June

CLO funds top rankings, but still have ground to make up
CLOs may have taken a hammering in March but, for the fourth consecutive month, funds that invest in these assets dominate our ranking of the top performing credit funds

Credit fundraising: distressed keeps in favour but CLO ETFs emerge
Five months into global lockdown and distressed debt funds are still proving popular, but several managers have found success pitching other types of credit strategies

Eagle Point targets $100 million with CLO fund launch
Eagle Point is set to launch another CLO-focused fund this summer, with the Greenwich-based manager on the fundraising trail for EP CLO Opportunities Fund II

ETF firm touts low warf stratregy to help cut CLO financing costs
Retail investors will soon have access to CLO investments with two managers launching CLO exchange traded funds this month. Peter Coppa, managing partner at Alternative Access Funds, believes the CLO market will benefit

Court meets Citi and defendants in middle with trial pushed to November
The Court overseeing the Citi Revlon wire transfer case has met Citi and the defendants in the middle, adding that “a more realistic, but still expedited, trial date should be adopted”