GoldenTree sprouts up in North Carolina
GoldenTree Asset Management has opened a new office in Charlotte

Russian sovereign posed to DC as 'potential failure to pay'
The Russian Federation has again been referred to the Credit Derivatives Determinations Committee for the second time in a month, this time with the questioner asking if a potential failure to pay has occurred

Sovereign in scope as Russian Railways triggers first Ukraine-linked credit event
Russian Railways had triggered a failure-to-pay credit event, the Credit Derivatives Determinations Committee has ruled, making this the first sanctions-related credit event since Russia's invasion of Ukraine in February

Russia returns to default pricing as railway co awaits credit event vote
Russian credit spreads are once again under intense pressure and sanctions-related credit events are back under the spotlight as the country's state-owned railway company faces the scrutiny of the Emea Credit Derivatives Determinations Committee

Carlyle hits $4.6 billion hard cap on second global credit opps fund
With leverage, Carlyle Credit Opportunities Fund II has around $6 billion of capital to deploy

Chicago pension seeks private credit manager
Direct lending, structured credit, distressed/special situations, specialty finance, and multi-strategy funds will be considered

Russia extends rally as DC rules against repudiation / moratorium
Russian Federation CDS contracts rallied strongly for a second day on Thursday, after the Credit Derivatives Determinations Committee ruled a repudiation / moratorium had not occurred on the country's sovereign debt

Crestline collects $3.6 billion across three private credit fund closes
The Fort Worth, Texas-based manager has closed its fourth opportunistic credit fund, third direct lending fund and second portfolio financing fund

Russia’s long EM index tenure cut in one swoop
Various constituent changes have been tabled for the forthcoming March roll of CDX and iTraxx credit derivative indices into new series, but one stand out is the administrator’s decision to eject Russia from all series of CDX EM

Russia CDS won't be orphaned in credit event but could pay big, say investors
Contrary to a flurry of recent media reports, Russian Federation CDS contracts are highly likely to have deliverable bonds in the event the country triggers a credit event - and this could come soon with high pay outs for protection holders

LP round up: Fidelity wins big, Pacific retains loan mandate, pensions eye distressed
The month also included one CLO fund commitment, one high yield manager search, one finalised US loans mandate and one $400 million multi-sector fixed income managed account mandate

Fund performance: Groundhog Day as 2021 leaders start strong
CLO funds once again claim the most top performing spots as seven out of 10 funds belong to the category

Credit hedge funds (March 2022)
Credit hedge fund returns

Credit funds at a glance (March 2022)
A round up of fundraising and people moves in credit

Ukraine crisis takes EU and Russian markets into new territory
Credit spreads went back to the wides again on Monday, after the European Union intensified its pressure on the Russian economy and reached an unprecedented agreement to supply Ukraine with weapons

Willis Towers Watson promotes manager research specialist to global credit head
Willis Towers Watson has named a global head of credit for manager research

French co rattles investors on micro level as Russia overclouds macro
After a cautious opening, investors in the European credit market have resumed hedging as western leaders continue to talk up the prospect of Russia invading Ukraine and the Kremlin has dismissed hopes of a Biden-Putin summit as premature

Ukrainian volatility speaks loud and clear after Russia talks fail
Ukrainian and Russian credit are ending the week with renewed volatility, as failed attempts at diplomatic talks appeared to exacerbate rather than simmer down tensions between the countries

Oak Hill hires head of ESG in New York
Oak Hill Advisors has hired its first head of ESG and sustainability 

Coller closes $1.4 billion private credit secondaries fund
Coller has nearly doubled the target size of its inaugural private credit secondaries fund, Coller Credit Opportunities I

Credit hedge funds (February 2022)
Credit hedge fund returns

Credit funds at a glance (February 2022)
A round up of fundraising and people moves in credit

Not so distressed any more for table-topping hedge funds
Following a raft of global fiscal support programmes over the past couple of years, it would seem likely that distressed debt funds have struggled to find opportunities

Ironshield prepares for ‘choppier’ kind of dislocation
Distressed debt investors are casting an eye over Europe as a cocktail of inflationary pressures, supply chain shortages and geopolitical risks weigh on corporate credit