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As funds swell, pressure to deploy rises and managers can stray from their expertise
The era of pure-play private equity is over. Banks are pulling different divisions together to serve the complex needs of global asset managers
Specialist moves after 18 years in the market
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According to a report by asset manager BlackRock, global exchange traded products saw a consistent inflow into fixed income funds in the first eight months of 2018. Within fixed income products, investment grade corporate bonds saw equally consistent flows, while high yield corporate bonds saw two consecutive months of inflows after six months of outflows. The inflows extend to high yield markets too, which is doing nothing to aid the fight against looser covenants. -
Private equity firms and corporates are unloading speculative grade debt deals with loose terms, but investors still pocket them this week, suggesting that their recent resolve for discipline may be short-lived.
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China National Building Material (CNBM) is considering changing the guarantor of its $160m debut offshore borrowing in a bid to cut pricing.
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Loomis Sayles’ senior loan portfolio manager Kevin Perry will retire in March 2019 after 17 years with the company and 37 years in the industry, the firm said on Tuesday.
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Investment manager Michael Scott will join Man GLG in December from Schroders, where he was responsible for three funds active in the high yield market.
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MCS Groupe opened a roadshow for a new 2024 floating rate bond this week, as it seeks funding for the acquisition of DSO Group to create a leading player in the debt repurchase industry in France.
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