Credit funds at a glance
A round-up of fundraising and people moves in credit

Orrick poaches securitisation partner from Ropes & Gray
The hire might help the firm move up CLOi Advisor rankings

Thomas Cook looks set to fly solo as default in outgoing Crossover series 31
The Determinations Committee has accepted a request to rule on whether Thomas Cook Group has triggered a bankruptcy credit event, after the UK-based travel company filed for chapter 15 protection in New York

The Last Tranche: managed CSOs and the benefit of CLO Euribor floors [podcast]
Managed CSOs are the talk of the town in the synthetic structured credit market, while CLO investors in Europe are putting a price on how much they value CLO Euribor floors  

Go long CLO triple-A and pick cash bonds over CDS, says JP Morgan
Going long European CLO triple A paper remains one of JP Morgan strategists’ favourite trades following the European Central Bank stimulus announcement last week, despite these tranches having rallied 14bp on average since the bank first backed them. They also predict cash credit to outperform CDS

US credit managers make ESG breakthrough after taking a first step via UNPRI
Incorporating a framework for investing in companies based on environmental, social and governance (ESG) factors is a challenge that US credit managers are accepting in growing numbers

If you can stomach volatility, CLO equity is very attractive

Five-year bespokes movement leads to managed CSO talks
Longer dated synthetic bespoke tranche business could soon receive new impetus, with dealers and investors ramping up talks about re-establishing managed portfolios as a common feature of the CSO market.

Ucits at a glance
A round-up of ucits fund performance

Credit funds at a glance
A round-up of fundraising and people moves in credit

Fund performance
A round-up of fund performance

Och-Ziff revenue tumbles despite inflows to credit funds and CLOs
Och-Ziff Capital Management posted a net loss of $8.6 million in the second quarter, which it blamed on the market’s reaction to US China trade tensions and the US Federal Reserve’s twist of monetary policy

Fund performance: Mercury rises as does credit fund performance

Upward flexes, CLOs gather speed and 'net-short' language develops [podcast]
The Acuris Fixed Income Group in North America recounts Q2 in the leveraged credit markets.    

Investor requirements rather than performance is driving ESG push: Creditflux survey
Only 14% of respondents to Creditflux's global credit ESG survey said performance was the main reason they were adopting envoronmental, social and governance-themed strategies

CLO investors should be looking at CSOs

Investments in CSOs can be more fruitful than in CLOs

They said it: "I saw a CLO OM which ran 484 pages"
At Creditflux’s Credit Dimensions event, JP Morgan’s Zaheen Mir argues that CSOs are simpler to understand than CLOs

Another BlackRock official lands at new manager Tresidor
Tresidor was founded by CIO Michael Phelps, formerly the head of European fundamental credit at BlackRock 

Arrival of five-year bespokes draws in CLO investors
Synthetic bespoke tranches are undergoing a major shift, with dealers projecting five-year business to supersede previously dominant shorter tenors by the end of 2019.

Mizuho appoints US and European credit trading heads in leadership shake-up
The hires include a newly created CLO role, head of credit trading, and head of special situations and illiquid trading 

Synthetic structured credit specialist lands at Brigade
A former Lehman Brothers structured credit specialist has landed at Brigade Capital Management in New York

Ashurst promotes structured products lawyer as one of 21 new partners
Ashurst has promoted to partner a London-based lawyer who specialises in derivatives and debt capital markets

Oak Hill reshuffles leadership in Europe
Oak Hill Advisors has appointed three long-serving members of its investment and business development teams to lead the European office