CLOs outperform yet again despite tough month for credit
CLOs can do no wrong it seems, and funds that invest in them topped Creditflux’s credit hedge fund rankings once again in January

AB targets software companies after niche securitisation
Deutsche Bank priced an unusual securitisation for AB last month. The deal accommodates the manager’s expertise in the software and technology sector

LibreMax hires to CLO team in New York
A former RBC Capital Markets CLO and ABS trader joins LibreMax in New York

Churchill names Wells Fargo official to newly created head of fund finance role
Churchill Asset Management has created the new role of head of fund finance to help it utilise leverage strategically across its fund strategies

US CLO fund wins $16 million from San Jose pension
The $5 billion pension awarded the allocation to a manager's fourth US CLO fund, having previously allocated to its second and third fund 

State Street and Blackstone target US CLOs, high yield and senior loans for ETF
State Street Global Advisors has teamed up with Blackstone Credit to launch a new exchange traded fund named SPDR Blackstone High Income ETF

BlueBay opens Madrid office with sales director relocating to lead team
BlueBay's new office will be located within parent company Royal Bank of Canada’s Madrid office

LP round up: two CLO funds win support as Cali pensions home in on private credit
Two investors revealed allocations to European and US CLO funds, private credit allocations increases and private credit consultant searches get underway

Oak Hill hires head of ESG in New York
Oak Hill Advisors has hired its first head of ESG and sustainability 

Credit hedge funds (February 2022)
Credit hedge fund returns

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

Not so distressed any more for table-topping hedge funds
Following a raft of global fiscal support programmes over the past couple of years, it would seem likely that distressed debt funds have struggled to find opportunities

Booster mandates leave unvaccinated further in the cold
US credit asset managers are starting to make coronavirus vaccination boosters part of their recruitment policy requirements, sources say.

Fund performance: Wasserstein's early 2021 performance drives it to the top
The final top 10 of 2021 featured a variety of funds as five different strategies were ranked among the best. US high yield was the most highly represented with two BlackRock funds and an Angel Oak in the top 10

Ucits at a glance: Robus claims top spot in 2021 after tight race
Ucits funds have ended 2021 on a high as 62% made positive returns in December

Apollo hires ex-JP Morgan CLO co-head to lead new Apac credit business
Apollo Global Management has hired three from Commonwealth Bank to lead the fim’s Asia Pacific credit business

NEPC adds CLO specialist to research team in Boston
The ex-Gapstow official will focus on public and liquid strategies in NEPC's credit and multi-asset group

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

Three-month term Sofr spikes ahead of rate hikes to bridge gap to Libor
Three-month term Sofr rates have shot up in the last few days with sources saying March interest rate hikes are being fully priced in. Three-month Sofr hit 17.11 basis points on Friday having been at 14.52bp on Tuesday and just 9.11bp at the start of the year.

KKR and PGIM among bidders to buy Alcentra: Bloomberg
BNY Mellon is set to offload its credit investment unit Alcentra, according to a report by Bloomberg citing people familiar with the matter

Gapstow expects strategic deals as credit manager M&A volume slumps to $120 billion
M&A volume involving credit asset managers dropped last year with total target value assets under management slumping to $120 billion from $149 billion in 2020 (and $254 billion in 2019), according to Gapstow Capital Partners

Two CLO funds launch following at least 20 in 2021
Two US credit managers have kicked off the year by launching funds geared towards investing in CLO tranches

Investcorp hires senior official to lead new Los Angeles office
The firm has expanded its US presence in the west coast and has hired a senior official responsible for growing investor relationships in the region

Hayfin dilutes structured credit unit as senior pair launch their own business
Hayfin Capital Management is pulling back from structured credit with the head of this business and a portfolio manager leaving to launch their own business