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CLOs: Four talking points

The July/Aug 2018 issue of PDI includes our annual CLO report. Here are some of the key findings.

Update: Adamas nears China JV fund closing – exclusive

The Hong Kong-based credit manager has raised $400m for its third China-focused credit fund.

PennPSERS commits $150m to TSSP opportunistic fund

The vehicle will take 30-40 positions in companies with EBITDA of $25m-$200m.

TowerBrook’s latest structured opportunities fund to target US, western Europe

The buyout shop, which has offices in New York and London, landed a $75m commitment from a Massachusetts pension fund.

CIFC opens London office and hires European fundraiser

The US credit manager is looking to expand its investor base across the European continent.

CDH Investments raises $1bn for its China debt fund V – exclusive

The Beijing-based investment firm’s fifth China-focused mezzanine debt fund, when officially closed, will be more than double the size of its predecessor.

Dignari nears $500m China debt fund target – exclusive

The Hong Kong-based credit manager has raised $400m so far for its second China-focused credit fund.

Subordinated debt use reaches highest level since 2014 – report

Senior-only deals are making up a smaller percentage of deal activity as second-lien and high-yield make a comeback.

Who’s interested in HNA?

Distressed debt managers are shunning single-borrower credit investments as they face challenges in the due diligence process.

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