Deal docs reveal that first-time US CLO manager targeted euro buyers

By Sayed Kadiri

Monday, July 08, 2013

An asset management firm which recently created a CLO management operation looked to European CLO investors

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TAGS: Risk retention

Comment by: Anonymous. Posted 10 years ago [2013-07-09 00:16:24]

I wonder ... how would the marketing of a European CLO fare in the US market? First thought: why not try it? Second thought: it would be a rare US investor who would want the FX risk that can only be hedged approximately (due to variable CLO bond WAL). Third thought: why would a European investor be willing to take the FX risk of a Palmer Square, USD-denominated CLO instrument?

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