Investor requirements rather than performance is driving ESG push: Creditflux survey
Only 14% of respondents to Creditflux's global credit ESG survey said performance was the main reason they were adopting envoronmental, social and governance-themed strategies

UK pension pool to launch maiden private credit offering
Border to Coast Pensions Partnership is launching its first private credit offering in early Q4, Creditflux has learned

Galapagos failure-to-pay credit event posed to DC as bond grace period lapses
The Credit Derivatives Determinations Committee has accepted a request to rule on whether Galapagos Holding, a former iTraxx Crossover index constituent, has triggered a failure-to-pay credit event

PennantPark raises $750 million for direct lending and opportunistic credit
PennantPark Investment Advisers has raised $750 million across four vehicles, according to an announcement

Clover Tech cov-lite loan blots CLOs after spilling a third of its value
The past week’s biggest declining loan by some way, for printing cartridge maker Clover Technologies (aka 4L Technology), is a worry for CLO portfolios as some 21 managers hold the name, according to CLO-i

Weatherford CDS auction next week could have 17 deliverables
There are 17 notes on the initial list of deliverable obligations for an auction next week to settle Weatherford International CDS, the Americas Determinations Committee has said

BIS touts 'early warning measure' of national banking distress
The Bank for International Settlements (BIS) has proposed a CDS-based methodology it believes policymakers could use as an early warning measure of distress in national banking systems

Atalaya hires experienced credit portfolio manager in New York
An experienced figure in distressed middle-market debt investing has landed at Atalaya and reunited with a former colleague  

Weatherford faces credit event auction with 50% area recoveries implied
The Americas Credit Determinations Committee has agreed to hold an auction to settle CDS referencing Weatherford International, having ruled last week the Houston headquartered oilfield services provider had triggered a bankruptcy credit event

Net short CDS provisions reach Europe as Legoland owner aims to block activist investors
A buy-out financing package for Merlin Entertainment will provide what looks to be the first instance in the European market of provisions aimed at deterring lenders from being net short borrowers’ debt through CDS

Rhode Island pension backs Clearlake credit fund
Rhode Island Employees Retirement Systems Pooled Trust is set to commit $30 million to Clearlake Opportunities Partners II, according to documents from an investment commission meeting seen by Creditflux  

Rallye CDS auction price drops to 12.5 cents on unmatched sell requests
Rallye's credit event auction to settle CDS contracts produced a final price of 12.5 cents today, lower than the initial price set in the first round this morning of 14.975

Rallye CDS set for high pay-out with credit event auction underway
Rallye CDS looks set for a high pay-out to protection buyers after a credit event auction today to settle the contracts produced an inside market midpoint of 14.875 cents, slightly below where the retailer’s bonds have been quoted

GSO makes big hire to co-lead distressed investing
Blackstone's credit platform has appointed an ex-Goldman Sachs official to co-lead its distressed debt business 

CVC closes $1.4 bilion special situations fund
CVC Credit Partners has held a final close at $1.42 billion for its second global special situations fund, which it says took eight months to fundraise.

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

Pimco hires ex-KKR official to lead corporate special situations unit
Pimco has appointed a former KKR official to lead the firm’s corporate special situation unit

Rallye CDS auction to have 10 dealers and six deliverables
10 dealers will take part in an auction next week to settle CDS contracts referencing Rallye, after the Determinations Committee voted to add Morgan Stanley as a participating bidder

HIG closes European small-cap special situations fund at $1.5 billion
HIG's distressed debt and special situations unit has closed held a final close for H.I.G. Bayside Loan Opportunity Fund V

Cheyne aims to capitalise on stress within direct lending as it closes €1 billion opportunistic fund
The fund seeks to capitalise on the accelerated sell-down of mid-market corporate loans by European banks

Highbridge refocuses on credit as it liquidates listed multi-strategy fund
Highbridge Capital Management has announced to investors in a multi-strategy fund that it is winding down the vehicle and refocusing its business exclusively towards credit

Private debt should alleviate the next downturn, says Paul Hastings
Private debt should soften the next downturn and not exacerbate it, according to a note published by law firm Paul Hastings

Balbec hires senior official to lead European business
Balbec Capital has appointed Vasanth Raj as managing director to lead the its European asset management business