News in brief
US credit returns fail to reflect risk

Growth in structured finance sets off legal merry-go-round
The departure of John Goldfinch from Milbank’s structured finance practice in late 2023 began a succession of moves between law firms looking to expand their structured finance practices

Fund performance - February 2025
Structured finance leads, but all indices stay positive as 2025 begins

Credit funds at a glance - January 2025
Fund performance, recent hires, recent fundraising

Credit hedge funds - December 2024
Credit hedge fund performance

Fund performance - December 2024
CLO funds cap off strong 2024 with yet another good month

Fund performance
Entering the final three months of the year, CLO funds took a clean sweep of the top 10 spots in the Creditflux tables. October was strong overall, as over 85% of funds listed made positive returns

Credit hedge funds
Credit hedge fund perfomance

Silver Rock sells 42% stake to Mubadala
New York-based Silver Rock has agreed to sell a 42% stake to Mubadala Capital, but the two entities will continue to operate independently

Oak Hill Advisors increases target cap to a billion dollars for new CLO equity fund
New York-based Oak Hill Advisors has raised USD 459m so far for its new CLO equity fund and increased the cap by USD 200m

Credit hedge funds
Credit hedge fund performance data for September YTD 

CLO fundraising round-up - November 2024
CLO funds have had a stand-out year, and both fundraising and fund returns have soared, with managers out in the market with both third-party and captive CLO funds

Beach Point ramps up fundraise for captive CLO equity fund
Santa Monica, California-based Beach Point Capital Management is looking to raise a captive equity fund to support its CLO issuance

Fund performance
August returns were largely positive for credit hedge funds, as 88% of those listed in the Creditflux database reached into the black

Credit hedge funds
Credit hedge fund performance tables as of the end of August 2024

Pearl Diver raises USD 100m for first investment grade CLO fund
CLO equity specialist Pearl Diver has expanded up the stack with the launch of its first investment grade CLO fund 

AXA IM Alts launches IG ABS Fund
The latest fund launch by AXA is looking to raise at least EUR 1bn for a broad portfolio of investment-grade ABS assets 

Credit hedge funds
Our credit hedge fund performance tables for June

Credit funds at a glance
Top performers, recent hires and recent fundraising

Sycamore Tree raises more than USD 100m for CLO tranche strategy
Sycamore Tree Capital Partners has raised more than USD 170m across two separate debt funds, include USD 100.5m for CLO debt

Fund performance
Spire, Prytania and Serone funds enter top 10 dominated by CLOs; Leading fund: Alegra ABS 2

Credit hedge funds
Credit hedge fund performance tables

Credit funds at a glance
Top indices; recent hires; recent fundraising

Ex-Sculptor veterans launch new asset-backed firm Indago
Sculptor alumni led by Akhil Mago have kick started Indago to invest in asset-backed finance and CLOs

CLO veteran departs Bain
Bain Capital has lost a managing director and CLO portfolio manager