TCW’s CIO of fixed income says feedback loop on AI spending is broken
PODCAST: The capital spending on AI, equity prices and associated momentum are like nothing seen before – and that has broken the natural feedback loop that conventionally slows borrowing, contends Bryan Whalen, CIO of fixed income at TCW, on the latest episode of Credit Exchange with Lisa Lee

West coast manager adds new global co-head to securitized group
Peter Van Gelderen will take up the role of global co-head of the securitized group in Los Angeles in October

Schroders beats five to win structured credit mandate as pension terminates Franklin Templeton
Schroders has beat out five other credit managers to win up to $108 million for a securitised credit mandate from a US pension. It comes after investment consultant RVK recommended to terminate the pension’s investment in Franklin Templeton due to “underwhelming performance and decreasing assets”

LP round up: 28 credit managers win $6.6 billion as San Diego carves private credit allocation
Pensions allocated over $6.6 billion to credit managers in June including Angelo Gordon, Antares, Apollo, Ares, Beach Point, BioPharma, Brookfield, CarVal, Cerberus...

Credit Fundraising: Private credit and CLO captive equity feature strongly as closes mount up
Credit funds have made a fair start to the fourth quarter, although the $21 billion raised during October is down substantially on September’s impressive record for 2021

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

TCW launches 'first' ESG-labelled structured credit fund in the US
TCW has launched what it claims to be the first dedicated structured credit fund with an ESG-label in the US

Credit Rendezvous: heading for homes
Fund managers in structured credit, real assets and distressed are bullish on the prospects for residential housing in 2021. Elsewhere, niche royalty-based strategies are in favour and although a CLO repricing wave is expected, it may not be easy to execute resets. For more, read our 13-page quarterly report on credit. 

LP round-up: Champaign pension raises a glass (or bucket) to private credit
Institutional investors allocated over $600 million to 11 managers this week, according to board documentation seen by Creditflux

TCW targets $1 billion for talf fund and attracts two pensions
Two pensions have allocated a total of $150 million to TCW's TALF Opportunities Fund, managed by TCW Group 

Minnesota pension's 2020 credit allocations hit $1 billion
Minnesota State Board of Investments has earmarked $400 million across to two credit managers in a private market update. The commitments mark $1 billion allocated to credit in 2020 by the pension

First Trust teams with TCW to launch unconstrained credit ETF
First Trust Advisors will act as investment advisor to the new actively managed fund, while TCW Investment Management will act as sub-advisor