Goldman Sachs MD joins buy side in private credit role
An experienced leveraged finance banker is taking his first buy-side role at a large European direct lender 

Credit Rendezvous: the upside of inflation
It is clear, inflation is not transitory and central banks are acting with several interest rate hikes likely in store for the US this year. That makes loans and CLO debt tranches attractive, but there could be opportunities beyond these floating rate assets

Gapstow expects strategic deals as credit manager M&A volume slumps to $120 billion
M&A volume involving credit asset managers dropped last year with total target value assets under management slumping to $120 billion from $149 billion in 2020 (and $254 billion in 2019), according to Gapstow Capital Partners

BC closes $1.2 billion second special opportunities fund 12 months’ incubation
BCP Special Opportunities Fund II has collected $1.2 billion in capital commitments - but a year later than it originally earmarked a final close

Hayfin raises 'more than €2 billion' for special opportunities strategy
Hayfin Capital Management has held a ‘more than €2 billion’ final close on its third special opportunities private credit fund, Hayfin Special Opportunities Fund III

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

Credit Fundraising: mega funds contribute to record-breaking month as volume hits $39bn
The sheer size of the funds raised in November more than compensated for a drop in the number of funds raised as fundraising volume in credit reached $38.9 billion. This beat September by $2.4 billion to make it the most productive month of credit fundraising in 2021

Oaktree raises largest ever fund with $15.9 billion for "opportunistic credit" strategy
Oaktree Capital Management has closed its largest ever fund, collecting a whopping $15.9 billion on its latest opportunistic credit strategy, Oaktree Opportunities Fund XI

HPS targets $9.5 billion for fifth mezzanine debt fund
HPS Investment Partners is targeting $9.5 billion for its fifth global mezzanine debt fund, HPS Strategic Investment Partners V - but unlike earlier vintages, HPS says it will not target opportunities within the upstream energy space

Credit funds at a glance (November 2021)
A round up of fundraising and people moves in credit

Niche credit funds make mid-market flexibility count
Funds that have the flexibility to invest in mid-cap debt issuers prospered in September, amid the usual swarm of outperforming CLO funds

Hayfin creates head of ESG role in London
Hayfin Capital Management says it has hired a head of ESG. This is a newly-created role, but Hayfin says it has “well-established environmental, social and governance capabilities”

LP round up: no Stoptober as investors allocate $5 billion to credit
US institutional investors allocated $5 billion to credit funds in October, with Oak Hill and Pimco among the biggest mandates    

New York pension favours credit as it pumps $1.1 billion into tech, loans and distressed
New York State Common Retirement Fund has splurged over $1 billion in credit, topping allocations it made in equities and real estate

Credit Rendezvous: Credit spins full circle
The third quarter was massive in terms of volumes with CLOs, high yield, leverage loans and private equity registering record issuance. But credit spreads were up and down as inflation fears, crackdowns in China and rising coronavirus cases became catalysts for risk-off sentiment in July and September

Credit funds at a glance (October 2021)
A round up of fundraising and people moves in credit

Credit Fundraising: September breaks 2021 record and poses question - is it sustainable?
The third quarter ended with $36.5 billion being raised in credit last month, doubling July and August figures. Several of the new funds have embedded Sustainable Finance Disclosure Regulation or ESG criteria at the heart of their investment thesis   

Cheyne puts focus on ESG-linked loans for new €1 billion strategic credit fund
The London-based manager held a €1 billion final close on its second strategic credit fund in the series, Cheyne European Strategic Value Credit Fund II, which it says took less than six months following its first close

Credit funds at a glance (September 2021)
A round up of fundraising and people moves in credit

Intriva adds to asset management build up with senior hire
Intriva Capital, a mid-market lender and alternative investment firm, has hired a senior asset manager from HIG Capital

Credit Fundraising: Blue Owl and WhiteHorse gain from improving animal spirits
Fundraising perked up in July as managers raised $14.9 billion for credit funds - the third highest monthly amount this year

Credit Rendezvous: And breathe...
The unanimous verdict is that credit spreads will be moving wider – they have to. But the difficulty credit fund managers face is predicting when the next sell-off comes and how sharp it will be. In the Q3 instalment of Creditflux’s Credit Rendezvous, the over-riding message from portfolio managers is that there’s little point in taking on too much risk. The report features the views of prominent credit figures including Paul Horvath (Orchard), Himani Trivedi (Nuveen), Ronnie Jaber (Onex), Graham Rainbow (Alcentra) and Michelle Russell-Dowe (Schroders). The report looks at 14 segments of the market including CLOs, direct lending, leveraged loans, distressed debt and credit derivatives.  

Fund performance: Déjà vu as April leaders dominate
CLO funds stayed in the top flight for another month as they took over the top 10 credit hedge fund return table in May, when 87% of all funds listed made positive returns

Credit funds at a glance (July 2021)
A round up of fundraising and people moves in credit

Credit fundraising: managers take care of infrastructure with new partnerships
Credit managers were busy launching new partnerships to support growth in infrastructure and CLOs. There were 13 announcements in the month paving the way for upcoming funds, platforms, and joint ventures