Ucits at a glance: European funds and CLOs head rankings
Ucits fund returns

Credit funds at a glance (November 2020)
A round-up of fundraising and people moves

Credit hedge funds (November 2020)
Monthly credit hedge fund tables

GSO co-founder Bennett launches minority GP-stake business
GSO Capital Partners co-founder Bennett Goodman (the “G” in GSO) has teamed with Mike Arpey, Avshalom Kalichstein and Rex Chung to launch a new GP stakes investing business

Credit fundraising: Dubai manager gets in on the act as direct lending takes off
Shuaa launches credit fund in the Gulf as Ares, Contingency, HPS and Perceptive are among those to close billion-plus funds

Scandinavian Airlines System triggers restructuring credit event
Scandinavian Airlines System Denmark–Norway–Sweden has triggered a restructuring credit event as a result of its recent recapitalisation, the Emea Determinations Committee has ruled

Stepstone subsidiary raises $35 million private markets fund for high net worth individuals
Conversus has closed an inaugural private markets fund, Conversus StepStone Private Markets, at $35 million

Scandinavian Airlines System posed as restructuring credit event
The Emea Determinations Committee has accepted a request to rule on whether Scandinavian Airlines System Denmark–Norway–Sweden has triggered a restructuring credit event as a result of its recent recapitalisation

Veritas closes inaugural credit opportunities fund at $400 million
Veritas Capital has held a final close inaugural credit opportunities fund Veritas Capital Credit Opportunities Fund at $400 million

EQT completes sale of credit business to Bridgepoint
EQT has completed the sale of its €3.9 billion credit business segment to Bridgepoint

LP round up: EIF backs four debt funds while Carlyle wins $1 billion
Institutional investors have allocated just over $4 billion to 27 credit managers in October board meetings

Rally puts credit back on even footing but single name volatility persists
A sizeable rally today is putting credit indices back on a flattish footing with where they began the week, adding to the sense the market is finely poised with only six trading days to go before the US presidential election

Garfunkelux gaps in as refi points to CDS orphaning
Garfunkelux Holdco 2, the CDS trading entity of debt collector Lowell, is leading today's drive tighter as the company's planned refinancing raised the prospect of contracts becoming orphaned

Selecta CDS settles with final price above bonds
Selecta Group CDS contracts have settled at a final price higher than where bonds were trading and above the credit event auction's initial market midpoint

Selecta auction on course for mid-range CDS recovery
Selecta Group CDS contracts look set to generate a pay-out for protection buyers about midway in their range the months running up to today's credit event auction

GSO European CLO adopts 'loss mitigation loan' concept to boost workout flexibility
GSO Capital Partner’s Deer Park CLO has introduced the concept of loss mitigation loans to European CLOs, according to a report by Fitch Ratings today

Credit Rendezvous: sometimes you have to dive deep to find value
Some parts of the credit market are fraught with danger, but that does not mean portfolio managers are avoiding them entirely, according to the Credit Rendezvous, Creditflux's 10-page quarterly report eaturing comments from 15 credit experts

[update] Beneath the triple C: theme parks take portfolios on downward ride
Seven corporate debt issuers were downgraded to triple C or below in September by Moody’s or Standard and Poor’s – hurting $2.16 billion of US CLO loans and €1.16 billion of European CLO portfolio. The pace of CLO loan downgrades to triple C has slowed steadily since the peak in April

High yield shorts and basis trades abound as borrowers race to issue
Discrepancies between high yield bonds and CDS could be a rich mine of activity in the coming months, say investors, with volatility set to rise while defaults and late cycle signals avail trading opportunities

Selecta CDS auction date set with revised deliverables process
The Emea Determinations Committee has set a date later this month to settle Select Group CDS and has notified a change to its rules for choosing deliverable obligations

Triton reaches €744 million final close for second credit opportunities fund
Triton Partners has collected €744 million on a final close of a second credit opportunities fund, Triton Debt Opportunities II, exceeding its €550 million target

Former LibreMax official reunites with colleague at distressed firm
A6 co-founder Michael Fine, former head of corporate credit at LibreMax, has appointed a former colleague as head of trading and research

Värde names deputy CEO and several promotions
The transitional appointments follow George Hicks, co-founder and co-CEO, saying in July last year he would move to an executive chair role by the end of 2021

Syz hires former Brigade official as it pushes into litigation finance
Syz Capital has appointed a head of special situations and uncorrelated strategies, as part of the firm’s push into litigation finance

Dubai manager launches first dedicated financing fund
Shuaa Capital has launched its first fund dedicated to financing opportunities in the gulf region