Altice France new capital structure starts trading as investors consider M&A potential
Restructuring completed as secured debt trades; break-up of Altice France business possible through sector consolidation

HSBC AM launches evergreen fund targeting trade, working capital assets
The new private credit strategy will invest in assets such as receivables and payables finance, trade loans and other instruments around the world

Invesco raises more than USD 700m for distressed debt, special situations investments
Invesco Credit Partners III has yet to hold a final close and has already surpassed the size of its predecessor

Crestline raises USD 3.5bn for sponsor and nonsponsor-backed direct lending
The firm held a final close for its Crestline Direct Lending Fund IV

Fund performance
August returns were largely positive for credit hedge funds, as 88% of those listed in the Creditflux database reached into the black

Fund performance
CLO funds dominate again as they take 18 spots in top 30 list

Credit PMs remain gloomy in latest IACPM survey
Survey participants in the latest IACPM Credit Outlook Survey believe the euphoria seen in global financial markets during the last few months of 2023 was overdone

Fund performance
Q4 has kicked off with structured finance funds leading the way in the Creditflux league tables, as the category index reached 0.61%, and all but one fund made positive returns.

BlackRock creates ESG-focused credit fund
BlackRock launches new strategy as interest in private credit and sustainable investments continues to grow

Fund performance
Positive August for credit sees CLO funds on top again

CLO round-up: blinded by the tights
Secondary CLO spreads continued to grind tighter this week and, at last, the primary market began to follow in both the US and Europe

CLO round-up: secondary market rallies amid increased primary supply
CLO primary activity increased across the board this week, with US new issue supply amounting to $1.8 billion - up 48.7% on the week prior - while in Europe supply increased 208.8% to €1.2 billion

Fund performance
Good month for CLO funds sees six in top 10 as Axiom sets pace

Sound Point becomes 5th largest CLO manager as Assured deal completes
Sound Point announced the completion of its partnership with Assured Guaranty yesterday jumping Sound Point into position as 5th largest CLO manager in the world.

Global CLO league tables - May 2023 YTD
Global CLO league tables - May 2023 YTD

CLO and structured credit PM parts ways from Hildene
An experienced CLO and structured credit specialist has left Hildene Capital Management

Rope-a-dope brings knock-out returns
Post-pandemic US and European CLOs delivered mid-teen equity returns in 2022, despite a barrage of weak macroeconomic news and what could have been a heavyweight Libor mismatch  

Beneath the triple C: Life could be better, but it’s just a letter, under the CCC
Many market participants were eagerly looking forward to a break in December after a gruelling year, but the rating agencies were in no mood to oblige. 

Global 2022 CLO league tables
Global 2022 CLO league tables

CLO rankings: manager AUM, advisory firm and trustees Q4 2022
As 2022 draws to a close manager consolidation through mergers and acquisitions have been balanced out by new market entrants to leave roughly the same number of managers that entered the year, at least for now.

Beneath the triple C: Winter is coming for CLOs as downgrades outstrip upgrades
Both US and European issuers have felt downward pressure from the rating agencies as we head towards the end of the year, with downgrades to triple C now firmly outpacing upgrades out of it.

Global CLO league tables - November 2022 YTD
Global CLO league tables - November 2022 YTD

Manager looks to cut HY exposures in CLO-heavy credit interval fund
A credit fund manager has provided a performance update on is multi-strategy closed-end credit fund through regulatory filings, revealing it has beat its benchmark from 1 April to 30 September despite losing 13.66%

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