Goldman Sachs collects $6.4 billion for opportunistic credit fund
Goldman Sachs’s merchant banking division has collected $6.4 billion from more than 1,500 investors on its inaugural opportunistic credit fund, West Street Strategic Solutions I

LP round up: Oregon eyes $1.8 billion into structured credit
Institutional investors have earmarked over $6 billion to credit funds over the past two weeks

LibreMax's former corporate credit head sets up distressed debt firm
The former head of orporate credit at LibreMax Capital is preparing to launch a new distressed debt firm after securing an anchor investment

DC sets Wirecard CDS auction date, obligations and settlement terms
The Determinations Committee for Europe, Middle East and Africa has set a date to settle CDS contracts referencing German digital payments company Wirecard

Chesapeake auction delayed over convertibles question
A credit event auction to settle Chesapeake Energy Corporation CDS has been postponed for at least two weeks while the Determinations Committee seeks clarity on status of the company's convertible bonds

Chesapeake auction could face delay over convertible conundrum
A credit event auction next week to settle Chesapeake Energy Corporation CDS could be postponed as uncertainty hangs over the status of the company's convertible bonds

Wirecard CDS auction set to have two deliverables
Two notes look set to be deliverable into an auction to settle Wirecard CDS, according to an initial list published by the EMEA Determinations Committee

Onex keeps up recruitment drive as it hires high yield credit head
Onex Credit has made more additions to its team in New York, adding a head of high yield credit and a portfolio manager in opportunistic credit

Credit Rendezvous: record fiscal stimulus provides pick-me-up
Credit markets had a mini bounce-back in the second quarter as central banks poured cash into the economy. But there is great uncertainty about the effects of a second wave of coronavirus. As part of our quarterly report on credit - the Credit Rendezvous - Creditflux spoke to experts across 12 segments of the credit market

Fiera rolls out private credit strategy with recent hires leading charge
Fiera Comox, an affiliate of Fiera Capital Corporation, has launched a new global mid-market private credit strategy

LP round up: managers keep fundraising hopes high as GSO targets $7.5 billion for mezz offering
Institutional investors allocated $1.6 billion into credit this week, according to documents seen by Creditflux

Wirecard splits DC on auction vote
Wirecard has caused a split at the Determinations Committee, whose members only narrowly reached a supermajority vote to hold a credit even auction for the German digital payments company

Chesapeake deliverables point to big pay-out on CDS
An initial list of deliverable obligations to settle CDS referencing Chesapeake Energy Corporation at auction points to a pay-out of over 97 cents to protection buyers - higher than where five-year contracts are priced

SkyBridge generates best returns since inception with 75% credit exposure
SkyBridge Capital, the fund of hedge funds manager run by ex-White House communications director Anthony Scaramucci, claims its Skybridge G II Fund has generated the best monthly and quarterly returns since inception. It will also cut its 25% tender offer frequency from quarterly to semi-annual

Oaktree managing director joins Peak Rock as it grows credit business
Peak Rock Capital has appointed a former Oaktree Capital Management official to help lead investments across corporate credit 

Charlesbank hits $750 million hard cap on opportunistic credit fund
Charlesbank Capital Partners has wrapped up fundraising for its second credit fund offering, Charlesbank Credit Opportunities Fund II 

Chesapeake CDS auction date set
Dealers have set a date to settle Chesapeake Energy Corp CDS, in what will be the thirteenth credit event auction of 2020

California Res auction brings 99 cent problem for CDS protection sellers
An auction to settle CDS referencing California Resources Corp has settled at just 1.125 cents, meaning a 98.875 cents pay-out to protection buyers

Selecta Group CDS gets caffeine jitters
Against a general rallying trend in the European high yield market, Swiss coffee machine vendor Selecta Group is a big widener today in five-year CDS - even as its bonds and shorter tenor protection show much more stability

Fund performance: CLO funds keep up the momentum for second month running
May returns have been led by continued momentum from CLO funds. In the last month, funds that invest in CLO notes in some capacity have made up 90% of our top 10, while 97% of funds listed generated positive returns - an improvement of 15% on last month's figures.

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

Ucits at a glance: Ucits recover lost ground
The foot has come off the gas for many funds - 57% of funds did not break the 2% return barrier.

Wide-end credits sharply diverge in firming market
In an overall flattish market, Selecta Group and Novafives are today's standout big movers in European high yield credit, but are on very different trajectories

Wirecard triggers first European CDS credit event of 2020
Wirecard has triggered a bankruptcy credit event, the Determinations Committee has ruled, making it the first European CDS name of 2020 to require settlement at auction

DC agrees to rule on Wirecard, putting Europe's first 2020 CDS auction in sight
The European CDS market is moving closer to facing its first CDS auction of the year, with the Determinations Committee agreeing to rule on whether the German digital payments firm has triggered a bankruptcy credit event