LP round up: Dutch pensions put €1.3 billion into infra debt
Institutional investors allocated over $2 billion to credit funds in January. Opportunistic credit funds were a favourite but the biggest moves came in infrastructure debt

US looks for stronger open after sell off
US credit is opening slightly stronger on Thursday, after its sharp Wednesday rout, prompted by Federal Reserve messaging, carried over forcefully into Asian and European markets

Credit touches November levels as nerves fray on France and Fed
Fears of a third national lockdown in France and the risk of disappointment from Wednesday's US Federal Reserve meeting have pushed credit wider along with a sell off in stocks

Credit lags in market recovery after borders panic
Financial markets are recovering after Tuesday's sell-off, but credit is lagging stocks despite having taken more of a hit in the initial rout

Credit Rendezvous: heading for homes
Fund managers in structured credit, real assets and distressed are bullish on the prospects for residential housing in 2021. Elsewhere, niche royalty-based strategies are in favour and although a CLO repricing wave is expected, it may not be easy to execute resets. For more, read our 13-page quarterly report on credit. 

Credit beats fast retreat as Biden boost dissolves in sea of troubles
The improvement of financial markets following the inauguration of Joe Biden as US president on Wednesday is looking short-lived as the week comes to an end, with CDS indices once again among the poorer performers

Kennedy Lewis raises $2.1 billion opportunistic credit fund
Kennedy Lewis Investment Management has closed a second middle market opportunistic credit fund at $2.1 billion, more than doubling its initial $1 billion target

TIG delves into Asian credit following minority investment in Arkkan
New York-based asset manager TIG Advisors has bought a minority equity stake in Hong Kong-based alternative asset manager Arkkan Capital

Europcar sets course for high recovery in 2021's first credit event auction
An auction to settle CDS referencing Europcar Mobility Group has generated an initial market midpoint of 73.5 cents, implying the pay-out to protection buyers could be only 26.5 cents - much lower than five-year CDS contracts had implied

Marathon holds $2.5 billion final close on distressed debt fund
The fund will invest in a wide range of capital solutions aimed at allowing companies to grow or reposition their businesses, including stressed and distressed companies in transition  

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