Creativity pays off as investors lap up static euro CLOs
Amid a challenging CLO landscape in Europe, managers and arrangers showed creativity in 2022.

Nassau prints upsized second Euro CLO
Nassau Corporate Credit has wrapped up its second European CLO today via Jefferies, just over one year after making its debut on the continent

Beneath the triple C: Winter is coming for CLOs as downgrades outstrip upgrades
Both US and European issuers have felt downward pressure from the rating agencies as we head towards the end of the year, with downgrades to triple C now firmly outpacing upgrades out of it.

Bain holds final close on $650 million fund to buy own CLO equity globally
Bain Capital Credit has closed its second captive equity fund with $650 million commitments, thought to be among the largest manager-controlled CLO equity funds raised

Axa CLO fund uses swaps and T-notes as hedges for 'more pronounced' 2023 recession
Axa Investment Managers says it is using swaps and T-notes as hedges for its publicly listed CLO fund, Volta Finance, with the firm believing a recession in 2023 may be more pronounced than expected

Belstar partners with Apollo to launch global corporate and structured credit fund
Belstar Management Company has launched a credit fund to invest across global liquid and private credit - including both corporate and structured credit

Details emerge on investor-driven Hayfin European CLO
Hayfin Capital Management priced a European CLO on 1 December, with sources indicating one account took triple As to triple Bs

European CLO equity outperforms single Bs amid high return dispersion: Bank of America
European CLO returns have been negative across the capital structure this year, a research paper from Bank of America has found. Losses have been softened however due to an increasing three-month Euribor rate, high carry relative to corporates and relatively stable equity returns.

Experienced CLO PM parts ways with Angelo Gordon
An experienced CLO portfolio manager has left the firm, having built out its European platform

Global CLO league tables - November 2022 YTD
Global CLO league tables - November 2022 YTD

Euro CLO league tables: Final whistle beckons in close manager race as Jefferies looks to park the bus
Last month, just shy of €3 billion of European CLO paper was priced in the primary market, the most since March and Russia’s war with Ukraine

PM lands at $3 billion credit shop to build European CLO platform
The European CLO manager universe looks set to grow even further, with a Five Arrows portfolio manager having been hired to help build a CLO platform

New credit hedge fund explores European CLO management
A relatively new credit hedge fund has become the latest firm to explore European CLO management, joining the growing list of prospective debut managers

Euro CLOs have better 2023 entry point than US in $140 billion issuance year: Barclays
CLO performance and issuance may have to wait until the second half of next year for improvement, say Barclays credit strategists in a 2023 outlook piece. But Europe could fare better than the US given starting levels in a year the market faces some challenging regulatory hurdles

Euro CLO new issuance could reach €22 billion in 2023, says BofA
European CLO new issuance will reach €22 billion in 2023, strategists at Bank of America expect, while refinancing / reset volume should reach €3 billion under a ‘base case’ scenario

Euro CLO manager closes second captive equity strategy at €228 million
An experienced European CLO manager is taking care of its CLO issuance for the next few years 

Polus 2022 European CLO tops Fitch ESG ranking
Cairn CLO XV has scored the highest ESG score among Fitch-rated European CLOs

Onex prints Europe's seventh static CLO of year
Onex Credit wrapped up a static European CLO late on Wednesday, with Citi and NatWest arranging the €339 million deal

Bridgepoint set to become 43rd European CLO issuer in 2022
Bridgepoint Credit Management is poised to end a one-year absence from new issue European CLOs with a forthcoming deal expected to price next week

Schroders hires COO for securitised products and CLO investments team
Schroders Capital has made a senior hire from Lloyds Bank to the newly-created role of chief operating officer of its global securitised credit team

Tikehau prints second new issue of the year
Tikehau Capital has priced its second new issue of the year, partnering with Goldman Sachs and Societe Generale on Tikehau VIII

Axa IM claims "more than 15 investors" in new European CLO
Axa Investment Managers says that “more than 15” investors allocated to its static European CLO, Adagio X, which closed on Friday

Blackstone's new Euro CLO volumes pass €1 billion for 2022
Blackstone Credit's new European CLO volumes for 2022 passed €1 billion on Friday after it priced its third new issue named Edmondstown Park CLO

European CLO managers trade loans to avoid (par) burn
Between March and July, European CLO managers traded €21 billion of assets within CLOs that were still in their reinvestment period as opportunities arose amid a weaker macro environment and Russia’s war with Ukraine

Fidelity adds European CLO structurer to team from buyside
A European CLO structurer is understood to have left PGIM ahead of a move to Fidelity International, according to market sources