Credit funds at a glance
Fund raising and people moves

Credit hedge funds
Credit hedge fund returns

US manager launches second captive CLO equity fund
The firm closed its inaugural captive CLO equity vehicle at $375 million just 14 months ago

TPG buys Angelo Gordon for $2.7 billion
TPG has entered into an agreement to buy Angelo Gordon in a cash and equity deal valued at around $2.7 billion, the firm has announced

Credit hedge fund returns (May 2023)
Credit hedge fund returns

Credit funds at a glance (May 2023)
A round-up of people moves and fund raising

CLOs at a glance (May 2023)
A round up of recent CLOs

March madness sees most funds give up gains made in Q1
After a positive start to the year, credit funds ended the quarter with a step backwards; just under 30% of those listed reached positive returns for the month.

PGIM buys majority stake in direct lender Deerpath
PGIM has bought a majority interest in direct lending firm Deerpath Capital Management

Pimco eyes CLOs as part of new flexible credit interval fund
Pimco is preparing to launch a new closed-ended, non-listed interval fund, named Pimco Flexible Corporate Income Fund, which will invest at least 80% of assets in corporate debt across public and private credit markets

Fund performance: European CLO funds lead the way
February was a positive month for many funds, as only one quarter failed to reach the black. This builds off a stellar start to the year: 96% of funds reached a positive return in January

Credit hedge fund returns (April 2023)
Credit hedge fund returns

Credit funds at a glance (April 2023)
A round up of people moves and fundraising

CLOs at a glance
A round-up of recently priced CLOs

Uni of Michigan reveals $50 million CLO fund allocation
The Regents of the University of Michigan has revealed a $50 million allocation to a captive CLO equity fund

FCA greenlights synthetic Libor
The UK’s Financial Conduct Authority has given the go-ahead for ‘synthetic Libor’ as it creates a bridge for Libor contracts that do not have any hard-wired language referencing Sofr. 

Credit Suisse/UBS deal to create $5 trillion asset manager
The emphasis is set be on wealth and asset management, according to a statement released by UBS in conjunction with its move to acquire Credit Suisse

First Sentier buys majority stake in credit firm AlbaCore
First Sentier Investors has bought a majority stake in European credit specialist AlbaCore Capital Group, the firms announced today, after identifying alternative credit as a ‘strategically important space’

SME CLO manager Be-Spoke rebrands to Aptimus
Be-Spoke Capital, manager of Europe’s first 2.0 SME CLO, has rebranded to Aptimus Capital Partners

First Eagle promotes four across syndicated loans and direct lending
First Eagle Alternative Credit has promoted four officials to senior-level roles across its direct lending and syndicated loans businesses

Orix USA makes two senior appointments to investor solutions unit
Orix Corporation USA has hired two managing directors to its investor solutions division

The rise and rise of CLO ETFs
A couple of years ago, the prospect of billions of dollars being invested in CLOs through exchange-traded funds would have seemed far-fetched. But a crop of CLO ETFs have popped up, demonstrating that liquidity is no longer an issue

Flat Rock confirms launch of CLO interval fund
Flat Rock Global announced today the launch a new interval fund, Flat Rock Enhanced Income Fund, which will invest in junior debt tranches of CLOs

Carlyle appoint former Goldman executive as CEO
Carlyle Group have appointed former Goldman Sachs Co-President and CO-Chief Operating Officer Harvey Schwartz as Chief Executive Officer and a member of the board, the firm has announced.

Credit Rendezvous: Make yourself comfortable, there’s a storm coming
In our Q1 outlook, we speak to Edwin Wilches, PGIM (US CLOs), Mikkel Sckerl and Flemming Dose, Capital Four (European CLOs),  Jim Fitzpatrick, CQS (US loans), Loic Prevot, Polus (European loans), Madelaine Jones, Oaktree (global high yield), Art Penn, Pennant Park (US direct lending), Mattis Poetter, Arcmont (European direct lending), Keerthi Raghavan, Waterfall (structured credit), Ray Costa, Benefit Street (distressed), Grant Webster, Ninety One (Emerging markets), Oumar Diallo, Aeon (real assets) for their views for the upcoming quarter.