FINANCIAL PRESS
February 7, 2025
Lakeview Farms deal falls through cracks, as markets see highest level of tightness in 30 years
Refinancing deals continued to dominate the leveraged loan and high-yield bond markets, as investors rushed to deploy capital in a space where supplyhas yet to catch up with demand. “If investors continue to think that we aren’t at risk of significant near-term rate cuts, then we should see strong demand for leveraged loans and thefloating rate asset class,” Grant Nachman, CIO & CEO of Shorecliff Asset Management told Debtwire . “It’s one of the most efficient ways to harvest income if you think rates will not drop precipitously,” he continued.
May 7, 2025
Citi Says Fast-Money ETFs Are Shaking Up Flows Across Credit
A time-honored signal heeded by Wall Street’s credit industry — the weekly flow of money — is breaking down. For years, money pouring in and out of bond and loan funds investing in Corporate America moved in lockstep. One week’s flows were a decent predictor for the following week, and so on. Not so, these days. The likely reason: Easy-to-trade exchange traded funds are booming and sucking in ever-more erratic capital flows, muddling up buy and sell signals for liquidity-obsessed debt investors.
August 6, 2024
Risky Borrowers Discover Doors Are Closing in Bond, Loan Markets
• Three firms scrap plans to refinance, reprice debt this week • Loan funds see largest outflows since regional banking crisis
June 12, 2024
Leveraged Borrowers’ $1.4 Billion Weapon to Fight a Hawkish Fed
A repricing wave in the leveraged loan market is helping risky companies cope with the “higher for longer” message from the Federal Reserve. Borrowers reworking debt to obtain better terms have saved more than $1.4 billion in annual interest expenses so far this year, according to Bloomberg calculations. Investors that have cash to put to work and are facing a short supply of new issues have snapped up the deals, producing an average margin reduction of about 50 basis points.
OVERSEAS PRESS
May 30, 2025
Clearlake Capital Group Inc., a private equity firm, has taken an unusual step to protect one of its portfolio companies from a takeover. Plastic-packaging maker…
April 2, 2024
Loan Investors Make a Killing Betting on Higher-for-Longer Rates
Investors are pouring money into US leveraged loan funds, fueling some of the biggest gains in credit markets this year, in a high-conviction bet that rates will be slow to fall and junk-rated corporate America will withstand the pressure of elevated borrowing costs.
August 7, 2024
Mercados crediticios cierran la puerta a la deuda riesgosa
... Grant Nachman, fundador y director ejecutivo de Shorecliff Asset Management. “La gente se animó con el alto rendimiento el mes pasado por el ...
February 22, 2008
Centrisme et "parler vrai", la recette du succès électoral du républicain John McCain
Aux Etats-Unis, le futur candidat républicain à l'élection présidentielle irrite les ultraconservateurs de son parti. Mais sa franchise lui vaut la sympathie des indépendants.
MULTIMEDIA
Grant Nachman, CIO & CEO of Shorecliff Asset Management, on building a team in the performing credit space
July 24, 2024
In this fireside chat, Grant Nachman, Founder & Chief Investment Officer of Shorecliff Asset Management Co., shared his insights on building a team in the performing credit space. He discussed his background, the journey of setting up his firm, the importance of authenticity, and how sizing and credit picking influence investment decisions.
Shorecliff's Nachman on Launching, Running a Fund: Credit Crunch
July 19, 2024
The journey of a founder is one filled with challenges, but an intellectually enriching experience in the words of Shorecliff Asset Management's Grant Nachman. Grant joins Bloomberg Intelligence's Noel Hebert and Sam Geier on this episode of Credit Crunch to discuss the launching of a new firm, and Shorecliff's full cycle credit investing strategy. Listen to Grant Nachman’s interview with Bloomberg’s Credit Crunch Podcast
CERTAIN ARTICLES PRESENTED HEREIN MAY PREDATE THE FORMATION OF SHORECLIFF ASSET MANAGEMENT LLC
August 9, 2024
US LevFin Wrap — Moving swiftly on
Given the way that primary issuance rebounded and secondary prices retraced this week, it’s fair to say the volatility that hit markets from Sunday evening through Monday has abated, even if investors are not exactly out of the woods yet.
May 29, 2025
“Companies and sponsors have increasingly opted for out-of-court restructurings to move quickly and stay in control,” said Grant Nachman, founder and chief investment officer at credit investor Shorecliff Asset Management...
April 11, 2025
...Some investors, meanwhile, may simply be cashing out of the most liquid trades, exaggerating the ETF outflows, as markets continue to see broad-based selling pressures, said Mr Grant Nachman, founder of Shorecliff Asset Management...
March 28, 2025
...Negative feedback loops sparked by selloffs “can resemble a wildfire,” said Grant Nachman, founder and chief investment officer at credit investor Shorecliff Asset Management, speaking generally. “It keeps burning until it’s exhausted all available sources of fuel."...
October 25, 2024
...“There’s an element of frustration of like ‘didn’t this just get repriced?,’” said Grant Nachman, founder and chief investment officer of Shorecliff Asset Management. “If issuers take it too tight, you have to work that much harder to find something to replace it with. There’s really no substitute for hard work.”...
November 6, 2024
How Trump 2.0 could impact US credit markets
..."The impact on leveraged finance is nuanced across sectors, and can vary within sub-sectors too,” said Grant Nachman, CIO and CEO at Shorecliff Asset Management. “We think it’s important not to apply blanket assumptions based on how prior Republican administrations have approached economic policy.”...
November 12, 2024
Wall Street’s Higher-for-Longer Rate Brigade Plunges into Loans
Investors are piling into US leveraged loan ETFs, betting that President-elect Donald Trump's policies will potentially boost inflation and push the Federal Reserve to cut interest rates less than expected.
November 29, 2024
Corporate Bond ETFs Are Fueling a Rise in Monster Block Trades
The boom in portfolio trading, where investors can buy or sell scores of corporate bonds with just a few clicks of a mouse, is fueling mega trades that were rare in credit markets just a few years ago.
February 3, 2025
Traders Rush to Safety in Loan ETFs Again on Interest-Rate Pain
Investors plowed record cash into a pair of leveraged loan ETFs last week, in a high-conviction bet that the Federal Reserve will be slow to slash interest rates.
