Analysis

June in derivatives: tranche warfare as bespokes take flight

The major credit indices look quiet, but Alt Credit Intelligence finds there’s plenty of activity below the surface


June CLO roundup: New managers, structural innovation,

Alt Credit Intelligence sums up the biggest stories in CLOs following another busy month for the market

Off the beaten track: Niche direct lending in Europe

Alt Credit Intelligence looks in the nooks and crannies of Europe to see who is doing what in niche direct lending



May CLO round-up: Chinese banks, inverted term curves and giant mid-market deals

Backed by a surge in investor demand, particularly from Asia, the US CLO market appears to be in rude health despite a challenging loan market environment.


Is the shopping mall dead?

Alt Credit Intelligence browses the aisles of US shopping malls and hears where credit managers are finding bargains


Birch Grove interview: If you build it, they will come

Birch Grove’s Jonathan Berger talks to Alt Credit Intelligence about building to last, and what opportunities are left in US credit markets


Coco populism: Managers ride the sub debt wave

Hedge funds have ridden a bumpy rollercoaster with European financial debt in recent months, but with things levelling off, Alt Credit Intelligence looks at how they made their money, and how they intend to keep doing it.


Manny Friedman’s community bank debt trade

EJF Capital founder was speaking as part of the Absolute Return symposium last month


Investor insights: What are allocators saying on alt credit?

After a solid performance year for many credit hedge funds, Alt Credit Intelligence sounds out six investors and consultants for their views on the investment prospects facing different credit strategies in 2017


Europe to remain Chenavari’s specialty

Loïc Fery, CEO & co-CIO of the $5.5bn manager, sets out where he is spotting growth opportunities across the continent


Single-name distressed focus pays off for ex-Goldman mortgage head

Dr Renyuan Gao’s Westfield Fund has delivered stellar returns so far and is eyeing a number of post-US election distressed opportunities


Special Operations: Private debt growing pains

The alternative credit market has mushroomed since 2008, as an increasing number of debt funds perform the lending traditionally offered by banks. Alt Credit Intelligence explores the operational challenges presented by this industry shift


Europe’s credit appeal amid the dislocation

After a volatile 2016, managers lay out the opportunities and pitfalls awaiting credit funds in Europe in the next 12 months




Fewer managers, fewer deals: How the CLO market is coping with risk retention

New rules came into force in December 2016 after two-year lead-in


Opportunities & challenges in 2017

After 12 months of unprecedented change, how are global markets shaping up for the year ahead?


Opportunities in distressed investing

Polygon Global Partners’ Olivier Blechner opens up about the firm’s distressed mandates and where he is finding alpha-generating returns


Credit headaches of Mifid II

Why research unbundling is causing serious worries for many fixed income managers trading in Europe


Hunting for emerging themes

Promeritum co-founder Pavel Mamai discusses his firm’s approach to EM credit and knock-on effects from the recent US election