Loan investors reap windfall from meme stock craze
The so called “meme stock” craze is having a tangible positive impact on certain companies’ loan prices

Fund performance: long-short funds challenge CLO strategies
CLO funds are maintaining their stranglehold on our top 10, but long-short credit funds are giving them a run for their money

Credit hedge funds (August 2021)
Credit hedge fund returns

Ucits at a glance: mid market fund leaps into top four
The majority of Ucits funds end Q2 on a high note as 76% of those in our database recorded positive performance in June

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

Middle east firm hires high profile loan official to build on control CLO equity business
Middle east asset manager Lakemore Partner is doubling down on CLOs with the control CLO equity investor hiring one of the biggest names in the loan and CLO management business

It's all relative: IG index drifts wide of 50bp as European CLO triple Bs outperform
US investment grade credit has been an underperformer in the last few weeks with CDX IG trading north of 50 basis points again. But European CLO triple Bs are looking strong while there is a stronger bid for two- to three-year paper in the US

Senior research analyst joins Onex from another US CLO issuer
Onex Credit Partners has hired senior research analyst with 11 years' industry experience 

Credit Rendezvous: And breathe...
The unanimous verdict is that credit spreads will be moving wider – they have to. But the difficulty credit fund managers face is predicting when the next sell-off comes and how sharp it will be. In the Q3 instalment of Creditflux’s Credit Rendezvous, the over-riding message from portfolio managers is that there’s little point in taking on too much risk. The report features the views of prominent credit figures including Paul Horvath (Orchard), Himani Trivedi (Nuveen), Ronnie Jaber (Onex), Graham Rainbow (Alcentra) and Michelle Russell-Dowe (Schroders). The report looks at 14 segments of the market including CLOs, direct lending, leveraged loans, distressed debt and credit derivatives.  

Ashurst hires senior structured credit and derivatives lawyer
Law firm Ashurst has added a partner to its global markets practice in New York

Antares hires experienced investor relations official from Barings
Antares Capital has hired a head of investor coverage in asset management

US loan managers capture secondary opportunities as new issues struggle
US loan managers switched gears by sourcing loans in the secondary market in the second quarter. This came as pricing in the primary market became less attractive in the early part of Q2 and with new loan issuance slowing in May and June

Flat Rock completes hat-trick of CLO funds taking top spot
Hedge funds that invest in CLO tranches are the top performers in our database for a third month in a row.

Fund performance: Déjà vu as April leaders dominate
CLO funds stayed in the top flight for another month as they took over the top 10 credit hedge fund return table in May, when 87% of all funds listed made positive returns

Credit hedge funds (July 2021)
Credit hedge fund returns

Ucits at a glance: Ucits stay positive for second month in a row
Ultra-tight credit spreads are not taking away from Ucits funds – 80% of funds in our database have again recorded positive returns.

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

Credit fundraising: managers take care of infrastructure with new partnerships
Credit managers were busy launching new partnerships to support growth in infrastructure and CLOs. There were 13 announcements in the month paving the way for upcoming funds, platforms, and joint ventures

Fair Oaks scoops up two control CLO equity positions
Fair Oaks Capital has been picking up primary CLO equity paper, with the firm announcing a further two control US CLO equity investments in its publicly listed fund, Fair Oaks Income Fund

Birch Grove merges with American Securities' credit business
US private equity firm American Securities has merged its opportunistic credit business, Ascribe Capital, with boutique alternative credit hedge fund Birch Grove Capital

It's all relative: CDX HY touches record tights but junior US CLO tranches leak wider
Credit spreads are marching tighter, but someone forgot to tell the CLO market. European and US CDS spreads have moved in step with each other for the most part with investment grade and high yield tightening 4-6% in the last week, whereas CLOs have been losing ground

Axa IM extends palm oil policy to cover ecosystem protection and deforestation
Axa Investment Managers says it is expanding its 2014 policy of excluding investments in companies which do not have sustainable palm oil production certificates by factoring in deforestation and ecosystem protection

Manager targets $450 million for global CLO fund
A New York pension has backed the fund, which will invest in CLO debt and equity tranches and is said to have held a first close in Q1

Ex-CEO Dondero ordered to pay Highland for breaching restraining order
Highland Capital Management has won a $450,000 award against its founder James Dondero after a Dallas court overseeing Highland’s bankruptcy found that Dondero had breached a restraining order granted in December.

Credit fundraising: Audax scores big in lighter month
Fundraising markedly dropped in May, but credit funds still amassed $12.8 billion and 10 credit funds reached final closes across a variety of different strategies