Sears CDS external review panel named to solve Determinations Committee impasse
The North America Determinations Committee has selected an external review panel to decide whether two Sears Roebuck Acceptance Corp debt obligations can be delivered into an auction to settle the US retailer’s credit default swaps, having failed to achieve a strong enough quorum among its own 15 members

Crossover converges on CDX HY as Fed, earnings and heavy technicals take hold
Big moves of single name credits continue to hold sway over the iTraxx Europe Crossover credit default swap index, whose underperformance of US counterpart CDX HY has extended during the past week amid a big technical repositioning of flows

Blackstone builds on multi-asset approach with fifth fund
The new vehicle will invest directly into Blackstone deals across its alternatives platform

Till debt us do part: CLOs have and hold David's Bridal loans as they plummet 10.87%
CLOs hold $26.63 million exposure to David’s Bridal, which filed for Chapter 11 bankruptcy on Monday

Recent CLO debutant Vista brings in GSO official to lead credit team
Vista Credit Partners has hired a former GSO official to lead its credit team

Texas pension fund commits €75 million to European distressed debt
A $30.01 billion pension fund has awarded €75 million to a European distressed debt fund managed by AnaCap Financial Partners

US clothing brand default leaves CLOs exposed
As many as 100 CLOs are among the holders of debt issued by FullBeauty, which defaulted on 31 October on an interest payment to its $345 million second lien loans  

Los Angeles pension backs Lone Star fund
Los Angeles Fire and Police Pension System has approved a commitment of up to $40 million to Lone Star Fund XI, according to a monthly report  

San Francisco pension ramps up private credit portfolio with $80 million commitments
The $24.5 billion pension fund currently has a 2.2% actual allocation to private credit, despite a 10% target allocation

October: credit funds at a glance
For the full report detailing fund trends, people moves and fund raising and launches

September: fund performance

You don’t need a 15% default rate to make money in credit
Jeanne Manischewitz, head of North American credit at York Capital Management, takes our credit quiz

Distressed specialists spy opportunities in US mid market
Distressed debt managers are eyeing up the US mid market loan space for when the cycle turns, said panellists at the Creditflux-Debtwire US Mid-Market Forum in October

Managers see growth in distressed and direct lending, but structured credit splits opinion
The private credit industry remains on track to grow to $1 trillion assets under management by 2020, according to joint research published by the Alterative Credit Council and law firm Dechert with allocations to distressed and mid-market deals tipped to rise. But structured credit has divided US and European managers

Napier Park receives $50 million add-on from Texas pension fund
The $30.1 billion pension fund has topped up its separately managed account with Napier Park 

Seven deliverables valid for Sears CDS auction, as seven others split DC panel
There will be seven obligations deliverable into an auction on 14 November to settle credit default swaps referencing Sears Roebuck Acceptance Corp, the Americas Credit Derivatives Determinations Committee has decided. But members of the 15-strong DC were split over whether to include another seven potential deliverables that did not make the cut

New Mexico allocates $175 million to credit
New Mexico State Investment Council has awarded a $75 million commitment to real estate debt and $100 million commitment to a multi-credit fund

Pimco generates listed opportunistic energy credit fund
Pimco is eyeing the energy sector for a new opportunistic credit fund, according to US regulatory filings.

US pension commits $100 million to Apollo's hybrid private credit/private equity fund
Pennsylvania State Employees’ Retirement System has mandated $100 million to a multi-strategy fund managed by New York-based Apollo Global Management

Akin Gump bolsters financial restructuring debt team with four partners
Akin Gump Strauss Hauer & Feld has bolstered its financial restructuring and global debt finance team with a new Connecticut office and the addition of four partners

Blackstone grows credit assets by 31% over year
The firm achieved strong fundraising in credit, taking credit-related assets under managment to $130.6 billion in the third quarter, a 31% increase year-on-year 

Cross Ocean sails to $1 billion finish line for two funds
Cross Ocean Partners has raised over $1 billion in capital commitments for two of its funds, the firm has announced

Texas pension fund backs distressed debt specialist with $25 million
Texas County and District Retirement System (TCDRS), the $30 billion public pension fund, committed $25 million to Redwood Opportunity Domestic Fund on 1 October.  

Still weighed down by 2015 oil price slump
It’s three years since the depths of the oil crisis but offshore service companies — such as the helicopter businesses that transport workers to oil rigs — are not seeing lift-off in prices or profits

August: fund performance
CLO spreads jumped wider in August, but funds that invest in these assets have been able to outperform