They said it: “Occam’s razor, the marshmallow test and the Pareto principle – what do they have in common?”21 days ago
The simplest solution is often the best solution, delayed gratification and the 80/20 rule; these can all be used in the assessment of CLO manager performance
Past returns: KKR CLO was sign of things to come21 days ago
Five years ago in Creditflux, we reported on KKR Credit pricing a US CLO that complied with European risk retention rules, in what was believed to be one of the first deals of its kind
Points up front: World Cup simulation shows models don’t work21 days ago
England as fourth favourites? Pull the other one
Points up front: Catholic taste does not include credit derivatives21 days ago
Is the pope a credit picker? It appears as though he is
We are not structured finance investors – we are corporate credit specialists1 month ago
Fair Oaks' Miguel Ramos-Fuentenebro takes our credit quiz
Future returns: we've (not) got a case of the blues1 month ago
Regular readers may notice a slight change to this, the 201st issue of Creditflux...
They said it: regulators are using The Big Short as their frame of reference1 month ago
The LMA’s Nicholas Voisey describes why it’s difficult to campaign for the European loan market
Points up front: traders are dedicated, no matter how hot it gets1 month ago
When a fire alarm goes off, you should make your way to the nearest exit: unless you’re a trader
Points up front: a few weeks' worth of dual compliance2 months ago
Dual compliance is so 2017. And yet European CLO managers are pursuing US risk retention compliance. Perhaps memories of 2013 are resurfacing
Join the debate: most memorable moment in credit2 months ago
At Creditflux we’ve now produced 200 monthly magazines since Fishknife first came up with the idea of tracking the global credit markets in 2001). We asked several key credit industry officials about their most memorable moment in credit
Staying afloat in credit takes care and character2 months ago
In his final article, our columnist sheds light on his identity and has some 'nice' advice for those navigating credit’s changeable oceans
Past returns: Europe's own risk retention rewrite3 months ago
Five years ago we reported that European CLO managers were hunting for partners to retain risk retention on their behalf. Shortly after, regulators performed a U-turn (nothing new here) and decided to prohibit third parties from acting as risk retainers
Join the debate: flippin' heck, you're distorting the CLO market3 months ago
After our report on a CLO investor flipping 2018 bonds before the deals had even closed, one reader pointed out that this "masks true demand"
Points up front: the best way to source direct lending loans is to sit and wait3 months ago
Spend a few minutes in the company of a direct lending manager and you’re sure to hear about the lengths to which funds go in order to source deals (one firm said that it operates a call centre in order to contact borrowers). Not so Pascal Meysson, managing director at Alcentra.
Past returns: pension scheme gets stung after regulators rewrite CLO rules4 months ago
Five years ago, we reported that US pension funds were boosting their allocation to euro-denominated credit. One institution in particular led the way by supporting the first European CLO to be issued since the global financial crisis
European direct lending may not be as European as it seems4 months ago
In European direct lending, raising capital has become the easy part of a manager’s job. But deploying that capital is more difficult, says Diala Minott, a London-based partner at law firm Paul Hastings
London real estate manager launches £500 million debt fund4 months ago
Specialist real estate debt manager Laxfield Group has launched its latest real estate debt fund, securing £500 million of institutional capital commitments
If there’s an app for it, competitors face a problem5 months ago
L&G's Martin Reeves takes our credit quiz
Join the debate: is Christopher Nolan moonlighting for Creditflux?5 months ago
A story last month on direct lender Prestige caused one reader to draw comparisons with a script from film director Christopher Nolan
Points up front: zombie managers near extinction5 months ago
The long-term nature of CLOs means the market tends to have a large number of zombie managers, those with one or two deals outstanding but no plans for future issuance. However, a spate of redemptions, especially in Europe, has swept away some of the ghostly deadwood.
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