Marathon's distressed debt fund reaches $1.2 billion AUM
Marathon Asset Management has increased assets under management in its distressed debt fund, Marathon Distressed Credit Fund, to at least $1.2 billion

Disconnect as credit sells off as stocks and oil strengthen
Credit is a big underperformer today versus stocks, with the sell off that began yesterday afternoon starkly at odds with the positive tone with which the week began

Financials lead as credit opens 2021 with optimism
Financial credits, and particularly banks, are among the big movers today with the market having opened 2021 in buoyant mood following agreements on a Brexit deal and US stimulus package

Sharp reversal for banks, travel and commodity firms as EU shuts borders
About a month's worth of improvement in high yield credit spreads - and nearly two months in investment grade - has been wiped out today, with European countries banning flights from the UK and Brexit talks missing a key deadline

Fund performance: CLOs look to continue recovery with end of the year in sight
CLO funds claim the majority of positions in our top 10

Ucits at a glance: Year-to-date returns head for double figures
Ucits funds generally performed well in October as 75% achieved positive returns

Credit funds at a glance (January 2021)
A round-up of fundraising and people moves

Credit hedge funds (January 2021)
Monthly credit hedge fund tables

LP round up: pensions plan private credit pacing as strategic credit takes on "midfield" role
US pensions have allocated $1.4 billion across 22 credit funds including those managed by Angelo Gordon, Ares and GoldenTree, according to recent board documents seen by Creditflux. Meanwhile a pension fund draws parallels between strategic credit and Jordan Henderson

Credit sell off gathers pace ahead of Brexit crunch day
With both sides in the EU-UK negotiations conceding that trade talks are most likely to conclude on Sunday without an agreement, credit is again a big underperformer today as more longs cut and run while hedging picks up

400 holds $430 million final close on opportunistic structured credit fund
400 Asset Based Term Fund II will invest across structured credit including special situations, risk-transfers, and liquidity premium opportunities in the primary and secondary markets

Monarch collects $3 billion for fifth distressed and opportunistic credit strategy
The strategy invests across corporate credit, structured credit, real estate, government debt and special situations

Index sell off hits at start of busy week for primary
Credit is stumbling into the week, with a widening of index spreads that noticeably underperforms stock markets

LP round up: Arcmont, Ares and Sixth Street win European direct lending mandates
Investors have allocated around $2 billion to credit funds in recent weeks, according to board documentation seen by Creditflux. Among those to recieve allocations include ADM, Arcmont, Ares, Audax, Bain, Centerbridge, Clearlake, Goldman Sachs merchant banking,  Invesco, Monarch, Oaktree, Raven, Sixth Street and Sound Mark

ECB stimulus hopes bolster high yield outperformance
Spread compression has picked up again, with European high yield taking the lead as expectations mount for another round of European Central Bank stimulus at its meeting next week

KKR promotes three in credit team to managing director
KKR has unveiled 26 promotions globally to managing director, including three in credit

Credit fundraising: November marks turning point as fund launches spike
November was always set to be an important month as the world awaited the US election outcome and the results of covid-19 vaccine trials. This did nothing to slow down fund managers as 14 funds launched, up from only four funds launching in September and five in October

Highbridge closes convertible dislocation fund with over $2 billion to deploy
Highbridge Capital Management has held a final closing of its convertible dislocation fund

Wide-end names gain ground as market hits impasse
Financial markets appear to have a hit resistance points in several asset classes today, with credit, stocks and oil prices struggling to find traction despite encouraging signals from the UK on rolling out the Pfizer/BioNTech covid vaccine

Arena collects $519 million for final close on special situations fund
Arena Investors has become the latest credit manager to launch a special situations strategy

Spread compression resumes with US passing key milestones
Credit markets have resumed their crunch tighter today, with an absence of any obviously negative brakes to offset strengthening Asian industrial numbers and applications by vaccine makers for emergency approval in the US and Europe

Bulls give up some gains as IG banks and energy lead market wider
In a cautious opening to the week, credit spreads are edging wider against a backdrop of faltering oil prices but marginally strengthened stocks

Europe keeps to the grind with wide-end driving improvement
Credit exhibits a firm tone as the week draws to a close, with index spreads grinding back towards their tights despite a mixed picture for oil prices and much of the US market away after the thanksgiving holiday

Stressed credits push tighter even as index bulls take profit
A cautious tone has returned to financial markets ahead of the US thanksgiving holiday, with the strong push tighter of credit spreads in recent sessions giving way to a widening move

Investment grade rallies hard on hopes of end to US deadlock
In a change from the recent trend investment grade credit is the front mover today, playing catch up on high yield as the market-wide rally gathers pace