Credit hedge funds (May 2021)
Credit hedge fund returns

Ucits at a glance: Altana moves into pole position
March marked a drop in pace for Ucits funds as only 62% of funds made positive returns, compared to 80% in February

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

CLOs cushioned as regulators get more comfortable on Sofr
The quest to find a suitable Libor replacement looks to have taken a big step forward in recent weeks, with hopes rekindled that securitised products such as CLOs and ABS could soon make use of a term Secured Overnight Financing Rate (Sofr)

US pension terminates three credit mandates due to 'underperformance' and relative value
The New Mexico pension terminated one multi-asset credit mandate and two bank loan mandates

Permira's credit CIO Kyriakoudis to retire by end of year
Permira Credit’s former chief investment officer Thomas Kyriakoudis will retire from the firm at the end of the year to pursue entrepreneurial opportunities

US CLO issuer hints at ending three-year absence with plans for equity fund
A US CLO manager which debuted in 2018 and has priced one deal looks to have launched its own CLO captive fund   

Lord Abbett prepares special situations interval fund
Lord Abbett is preparing to launch a new special situations fund in the form of an interval fund

Permira Debt Managers rebrands to Permira Credit
Permira Debt Managers has rebranded as Permira Credit 

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 

Highland ends 12-year dispute with UBS over CLO-squared amid "shocking revelations"
A 12-year dispute over a failed CLO-squared is close to being concluded after Highland Capital Management filed a motion yesterday to approve the settlement of its dispute with UBS. But wasn't filed without more "shocking revelations"

Senior structured credit portfolio manager tipped to join BlueBay in London
BlueBay Asset Management is close to filling a gap on its structured credit portfolio management team

Permira promotes five in credit team to MD including head of structured credit
Permira Debt Managers has promoted five members of its credit team to managing directors 

Black Diamond structured credit BD head joins impact investment firm
Black Diamond Capital Management's head of structured credit business development has parted ways with the firm after nearly four years, according to market sources. He is set to join start-up impact investment firm Lafayette Square as managing director and head of capital markets

Fund performance: assortment of funds step up
Seven categories are represented in this month’s top 10, making it the most diverse since February 2020

Ucits at a glance: Advent and Algebris lead the pack again
Ucits funds saw the brighter side of February, as 80% of funds achieved a positive return

Credit hedge funds (April 2021)
Monthly credit hedge fund tables

Sandalwood funds of credit funds outperform in February
Credit funds of funds came out on top in February, a month characterised by the sell off in US treasuries

LP round-up: $2.6 billion flows into 26 credit managers
A stuck ship in the Suez Canal may have prevented others from getting through one of the world's busiest waterways in March, but allocations to credit funds were much more free flowing as investors poured over $2.6 billion into the hands of credit managers

Eagle Point diversifies from CLOs as it wins $180 million for BDC lending strategy
A US public pension has earmarked $60 million for Eagle Point's fund and a further $120 million for a separate managed account

CIFC multi-asset strategy launch underlines diversification beyond CLOs
CIFC Asset Management has launched a multi-strategy credit strategy, underlining its development from a CLO issuance business to a broader credit asset manager

Four managers win lucrative $700 million credit mandate
A $39 billion pension has selected four managers for an opportunistic credit mandate and identified a further four ‘bench’ managers 

Tikehau places €500 million sustainable bond as it plans high yield impact fund
Tikehau Capital has placed an inaugural sustainable bond that it says is the first of its kind for an asset manager

MidOcean CLO PM joins European credit manager to lead US expansion
Former MidOcean Credit CLO portfolio manager Jim Wiant has joined a Copenhagen-headquartered manager to lead the firm's US expansion

Credit funds at a glance (March 2021)
A round-up of fundraising and people moves