Kissick and make up: Ares replaces board member
Ares Management has appointe a replacement to its board of directors as retired Ares co-founder John Kissick steps down

CLO market celebrates Valentine's Day by romancing with resets
Refinancings have been the talk of the month in the CLO market, but this Valentines day saw managers turn their minds to resets

Ares buys seven CLOs from Crestline Denali
Ares Management has bought management contracts for seven Crestline Denali CLOs

Ares wins $750 million for direct lending SMA with another $100 million in the pipeline
Two US based pension schemes have recently backed or looked to commit to direct lending products managed by Ares Management, according to documents seen by Creditflux  

US pension backs special opportunities fund
Virginia Retirement System (VRS) has committed $150 million to a special opportunities fund, managed by Ares Management Corporation  

Ares hires head of credit trading
Ares Management has appointed a head of credit trading in a newly created role

Few CLOs charred by Murray bankruptcy
25 CLO managers hold  $389.6 million exposure to the debt of coal company Murray Energy Holdings, which filed for Chapter 11 bankruptcy in the Southern District of Ohio on Tuesday, according to the latest trustee reports from CLO-i   

Ares joins exclusive group of managers to price six new CLOs in 2019
Ares Management yesterday completed its sixth new issue CLO of the year, joining the exclusive list of managers to have achieved this number of new money deals

Ultra Resources loan downgrade unlikely to burn CLOs
The downgrade of Ultra Resources to triple C is not expected to have a material impact on CLO portfolios, accordng to market sources. Loan investors took the matter in their stride as the issuer's term loan Bs are being quoted today at 68.4/70.2 - up from 68.2/70.25 from Thursday, according to IHS Markit

CLO pipeline: managers look to avoid a repeat of 2018 with new issue flutter
US and European CLO managers are preparing to up the ante in September, but they will have to defy a trend set a year ago

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

CLO managers cash in their chips as Caesars trade pays off
Caesars Entertainment was the most sold issuer in June with $158.8 million of its term loan sold out of CLOs.

Ares appoints Atalaya founding partner to co-head alternative credit unit
He will serve as co-head of Ares' $4 billion alternative credit unit alongside Keith Ashton 

Ares credit business grows 4.4%, driven by US direct lending
US and European direct lending, alternative credit and syndicated loan funds dove growth for Ares Management Corporation in the second quarter, the firm said

Global CLO b-wic round-up: 71% of equity positions trade as supply picks up
The European and US secondary CLO market took a step back this week as the primary CLO generated $7.8 billion of deal flow globally

Ares refinances single tranche of 2016 CLO
Ares Management returned to the CLO primary market on Friday to price its seventh transaction of 2019

Ares brings in $1 billion for first credit special situations fund
The Los-Angeles based manager is now just over halfway to its $2 billion target size

US CLO b-wic round-up: secondary volumes reach new heights with equity lagging
The US CLO secondary space saw almost $1.8 billion of paper listed last week according to CLO-i, a record amount for this year. Equity, however, did not draw much interest

New kids on the block dominate awards

Ares hires Natixis deputy CEO for the Americas to credit investing role
Ares Management has poached the Americas deputy chief executive officer from Natixis's investment banking business

Global b-wic round-up: Short-dated CLO paper hits the market
Last week brought over $800 million of b-wics listed in the US CLO secondary market for the first time this month, with around 10% being paper that had a reinvestment period that ended in 2019.

Spire wins Creditflux Manager of the Year award
Spire Partners was the big winner at Creditflux's Manager Awards last night as the London-based manager scooped the award for the manager of the year. On top of this, the firm picked up awards for Best European CLO Manager and Best European CLO for Aurium CLO II

US CLO league tables: heavyweights dust off and jump back in the ring
Competition has prevailed after a tough quarter for the CLO market, in which banks offloaded their carry-ons from last year

Ares makes it three new issue US CLOs with $589 million deal
Ares Management has produced its fourth new issue CLO of 2019 and its third in the US

US CLO managers look to scale flat WALs in search of flexibility
The anticipation of a downturn in the credit cycle has made investors turn their attention toward document provisions that give CLO managers flexibility