BNPP’s asset management unit wins USD 600m SRT mandate
The French bank’s alternative asset management business will invest in significant risk transfer deals on behalf of the Arizona State Retirement System

Beneath the triple C: Stormy October hits CLOs with rising tide of downgrades
After a slight respite in the pace of downgrades over the summer for CLOs, October brought renewed momentum as macro-economic pressures - primarily high interest rate burdens for corporate borrowers and supply side inflation - became the recurring rationale

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

Ucits at a glance: LBBW shines as Ucits take a turn for the worse
Ucits fund returns

Ucits at a glance: Robus stands tall among Ucits funds
27% of Ucits funds had positive returns in March, a slight improvement from 10% in February

Ucits at a glance: Long-short funds provide resistance in tough month
In February, Ucits funds followed market sentiment as 90% made negative returns

BNP Paribas AM claims debtholder agreement means US CLO 'default' was avoided
BNP Paribas Asset Management has disputed the downgrade to D, by S&P Global, of two junior debt tranches in its 2014 US CLO known as BNPP IP CLO 2014-1

Ucits at a glance: Robus and Altana dip but stay at the top
In October, Ucits funds continued a slide that had begun the previous month with 60% of them in the red

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

Ucits at a glance: Robus and Altana enter the final sprint neck and neck
A downward turn hit Ucits funds as 65% of them made positive returns in September,

Beneath the triple C: CLOs benefit as upgrades make for lighter triple C buckets
For the first time since the sell off in March last year, downgrades to triple C have come to a near-standstill

Beneath the triple C: downgrades hold steady as Travelport loses its luggage
For the second month in a row downgrades to triple C steadied, with just under $9 billion of CLO loans falling to this rating across 34 corporate borrowers

OC health check: US CLOs show improvement as first euro CLOs breach multiple tests
15 deals reported a breach in an overcollateralisation test last week according to the latest reports available on CLO-i, including one European CLO and 14 US broadly syndicated loan CLOs.

BNP Paribas AM set to launch Nest-like private credit offer to UK pensions
French manager BNP Paribas Asset Management is set to launch a diversified private credit fund for smaller UK pension funds over the first half of 2020, similar to the one it structured for the pension scheme Nest  

UK pension hires BNP Paribas AM for starring role in core-satellite private credit fund
UK pension fund Nest has appointed BNP Paribas Asset Management to run the core of a private credit fund, sources say, in an arrangement which sees Amundi and BlackRock manage certain satellite investments  

Global CLO round-up: it's time to rethink benchmarks
The CLO market broke out of holiday mode last week by presenting strong issuance on both sides of the Atlantic - $2.8 billion in the US and €1.6 billion in Europe. High volumes have brought with them bigger shifts in market dynamics. This week put the focus on tightening spreads, as benchmark triple A levels dipped.

BNP Paribas Wealth appoints head of private equity and private debt investments
The appointment supports what the firm sees as "a significant pick up in clients’ appetite" for the asset classes

BNP Paribas AM launches emerging markets fixed income fund
BNP Paribas Asset Management has announced the launch of an emerging markets fixed income mutual fund – and says it plans to launch further mutual funds in the coming months

BNP Paribas acquires stake in SME credit specialist Caple
BNP Paribas Asset Management has acquired a 10% stake in Caple, which facilitates lending to small and mid-sized enterprises through a fintech platform