LP round up: CLO fund included in whopping $13 billion of credit allocations in November
Credit took centre stage in November as investors allocated over $13 billion to credit funds in the month, with one pension allocating $50 million for a European CLO risk retention fund 

Fund performance: Dominant CLO funds look to end the year with 20%-plus gains
Once again the Creditflux hedge fund top 10 is dominated by CLO funds, with seven funds among the best performers in September.

Credit hedge funds (November 2021)
Credit hedge fund returns

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

Niche credit funds make mid-market flexibility count
Funds that have the flexibility to invest in mid-cap debt issuers prospered in September, amid the usual swarm of outperforming CLO funds

Hayfin creates head of ESG role in London
Hayfin Capital Management says it has hired a head of ESG. This is a newly-created role, but Hayfin says it has “well-established environmental, social and governance capabilities”

LP round up: no Stoptober as investors allocate $5 billion to credit
US institutional investors allocated $5 billion to credit funds in October, with Oak Hill and Pimco among the biggest mandates    

Lazard in talks to buy Brigade: Bloomberg
Lazard is reportedly in advanced talks to buy credit hedge fund Brigade Capital Management

T Rowe Price to buy Oak Hill for up to $4.2 billion
Oak Hill is set to become T Rowe Price’s private markets platform, led by Oak Hill’s chief executive officer Glenn August

Credit Rendezvous: Credit spins full circle
The third quarter was massive in terms of volumes with CLOs, high yield, leverage loans and private equity registering record issuance. But credit spreads were up and down as inflation fears, crackdowns in China and rising coronavirus cases became catalysts for risk-off sentiment in July and September

BofA CLO trader departs after 16 years to join US pension giant
Former Bank of America CLO trader has left the bank after 16 years to move to the buy side

Still plenty more fish in the triple C

Credit hedge funds (October 2021)
Credit hedge fund returns

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

They said it: "Oh, hell no!"
PineBridge Investment portfolio manager Laila Kollmorgen tells the audience at Creditflux’s CLO Symposium that she is unequivocally against increasing triple C limits from 7.5%

They said it: "The debtor’s [Highland’s] founder, James Dondero, created an elaborate web of approximately 2,000 business entities&qu
Highland’s unsecured creditors break down the company’s corporate structure

Credit hedge funds (September 2021)
Credit hedge fund returns

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

Credit Fundraising: Blue Owl and WhiteHorse gain from improving animal spirits
Fundraising perked up in July as managers raised $14.9 billion for credit funds - the third highest monthly amount this year

Credit hedge funds (August 2021)
Credit hedge fund returns

Key CLO official earns promotion to managing director at Z Capital
Z Capital Group has promoted two members of its investment team in New York, including a central figure on its CLO management platform

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

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