CLOs can survive defaults, but it could be death by triple Cs
Covenant deterioration in the leveraged loan market has caused sleepless nights for CLO managers who worry that when defaults start to rise, recovery rates will be lower than in past downturns. But market participants are expressing concern that ratings, rather than defaults, pose a greater risk to the market

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

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  

Tilton and MBIA reach bankruptcy agreement for Zohar CLOs
The dispute between Lynn Tilton, the Zohar CLOs and creditors, including MBIA, came a step closer to resolution yesterday with the parties reaching an agreement over the bankruptcy of the Zohar CLOs

Former ICG credit head Kershaw takes advisory role at distressed debt firm
Dagmar Kent Kershaw, the former head of Intermediate Capital Group's credit fund businessin Europe and Australia, has landed an advisory role at a $7 billion distressed debt manager

Head of illiquid European credit set to leave Apollo
Sources say that a high-profile figure within Apollo's credit business is leaving the firm

Bain makes double hire to its London office
Bain Capital Credit has raided two hedge fund managers for loans and distressed debt talent

Black days ahead for CLOs as Seadrill warns of potential default
More than 80 CLOs look set to take a hit in the near future after oil driller Seadrill Partners warned about a possible default on its debt

New York-based manager targets $600 million for new distressed fund
A credit fund manager is targeting debt issued by small businesses and regional banks for a new distressed strategy

Deutsche Bank looks to sell portfolio of Spanish non-performing loans
Deutsche Bank is looking to dispose of a portfolio of Spanish non-performing loans, according to a regulatory filing yesterday

Warren Resources default leaves GSO retail investors facing losses
Retail investors in a series of funds managed by GSO Capital are set to take a hit as yet another oil and gas company struggles to restructure its debt

Colony raises $689 million for upcoming distressed debt fund
Los Angeles-based real estate specialist Colony Capital has $689 million for a new distressed credit fund, according to regulatory filings

Sankaty raises $2.1 billion for new distressed credit fund
Boston-based manager Sankaty Advisors has raised $2.1 billion for a new distressed credit fund, according to regulatory filings

KKR's credit AUM grows as upcoming distressed fund hits $1.7 billion
KKR's credit platform continues to grow with the firm said to have raised $1.7 billion for a forthcoming special situations fund

Former BlueBay official's European credit firm closes its business
A European high yield and distressed credit manager, which started out with $100 million of capital, is winding down its business

Oaktree plans "unprecedented" $20 billion credit fund-raising initiative
The firm touted as the biggest credit investor is planning a mass expansion in credit

Alcentra wins $127 million mandate and finds the only way is Essex
Alcentra has emerged as the winning candidate in the race to land an £80 million ($127 million) mandate to manage illiquid credit

KKR plans credit push with a series of second generation funds
Private equity giant KKR is making a big push in credit with a series of fund launches on the agenda

Leading credit investor puts $50 million into distressed debt
One of 2014's biggest credit allocators has put another $50 million into the space. 

Ex-Highland executives look to mimic past success with new loan fund
Two former Highland Capital Management officials are aiming to launch a loan fund after forming a new management business at the start of this year