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”

Sun Life Financial in talks to buy Crescent Capital - report
Canadian insurer Sun Life Financial is said to be in talks to buy credit manager Crescent Capital, according to a report by Bloomberg

BlueMountain's Feldstein set to leave firm as Assured wins $300 million CLO mandate
Andrew Feldstein is set to exit from Assured Guaranty and its subsidiary BlueMountain Capital Management, where he has served as chief investment officer and chief executive officer

Axa IM fund drops in July as it seeks call on non-paying 2013 CLO
Volta Finance, a publicly listed CLO fund managed by Axa Investment Managers, was down 1.2% in July (after its 11 cents per share dividend payment) due to US dollars depreciating against euros by 4.6% during the month, Axa said in the fund's monthly update

Apollo appoints head of leadership development and diversity
Apollo Global Management is taking steps to improve diversity at its leadership level

Ex-Morgan Stanley CLO head joins blockchain firm to "change world of finance"
A former Morgan Stanley veteran has resurfaced at Figure, a San Francisco-based firm bringing blockchain technology to financial markets

Managers advised to refresh disclosures after SEC risk alert
Credit managers should review their conflict disclosures after the SEC issued a risk alert, say lawyers

Flat Rock eyes interval fund conversion for private BDC
Flat Rock Capital Corporation, a private business development company managed by Flat Rock Global, has filed to convert to an interval fund, according to US regulatory filings. The BDC will merge into a new entity, subject to shareholder approval

Fund performance: Credit funds post double-digit gains
June returns have once again been led by CLO funds, as seven out of the top 10 belong to our CLOs category.

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

Ucits at a glance: Ucits funds march on and erase Q1 losses
95% of Ucits credit funds listed with Creditflux posted positive returns in June to keep up the momentum from May when all but one fund was in positive territory

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

New funds move in as tranche trades take off
Synthetic structured credit funds are proving popular with investors amid a spike in index tranche trading