Debtwire FY23 US Direct Lender Rankings
US-based direct lenders chalked up nearly 2,000 disclosed facilities in 2023, a year in which deal value totaled USD 169.2bn 

AXA wins USD 400m for SRT strategy from US pension fund
The growing global demand for SRT transactions was confirmed yesterday with an announcement from AXA IM Alts that it had been awarded a USD 400m investment mandate from a US pension fund

Voya refis 2018 vintage CLO
After partnering with Scotiabank earlier this month to price its first new US BSL CLO of the year, Voya deepened its relationship with the bank to price its second refi of 2024

New Ares CLO keeps pricing tight
The fourth Ares CLO of 2024, a new issue US transaction valued at USD 406m, priced this week, with the senior triple-As at 150bps over SOFR

Third time's the charm as 2013 vintage CLO gets reset
Oak Hill Advisors priced a third restructuring of one of its 2013-vintage deals on Tuesday

New Mexico pension system approves USD 150m top-up to distressed debt fund
The New Mexico State Investment Council continued to pump money into credit alternatives on Tuesday, as the board approved its latest commitment

Antares hires CSAM managing director
Antares Capital has hired a new managing director and global head of product strategy and development from CSAM

Elmwood prints eighth deal this year

Elmwood Asset Management continued on from its busy start to the year on Friday, when it priced its fourth new US BSL CLO of the year. 

Partnership with Jefferies bears fruit as manager returns to CLO primary
After sitting out 2023, a manager returned to the US BSL CLO primary market on Friday, with a new issue arranged by Jefferies

MGG raises more than USD 400m in first close of lower middle market fund
MGG Investment Group has filed the first close on its MGG Structured Solutions Fund II, offering capital solutions to non-sponsor backed companies

US resets continue as Redding Ridge joins in
Apollo’s Redding Ridge Asset Management on Friday reset a 2018 vintage US BSL CLO

Sycamore resets and upsizes 2023 vintage CLO
Sycamore Tree CLO Advisors has reset and upsized Sycamore Tree CLO 2023-3, adding USD 6m in equity as well as USD 127m of debt

Baltimore pension system puts USD 35m into private credit fund
The City of Baltimore's Fire & Police Employees' Retirement System recently allocated USD 35m to a private credit fund

2020 US CLO gets a refi
Bain Capital Credit priced a restructuring of its Bain 2020-1, refinancing all tranches apart from the fixed-price triple-A notes

Blackstone refinances 2018 US CLO
Blackstone rounded off last week with a partial refinancing of its 2018-vintage Harbor Park CLO, arranged via Morgan Stanley.

CVC joins short-dated trend for latest US CLO
CVC Credit on Friday priced Apidos Loan Fund 2024-1, a new US BSL CLO with a 1Y/2Y timeframe

CSAM gets happy ending as CLO 69 prices
Credit Suisse Asset Management continued its rapid pace of new CLO issuance today, pricing its latest new deal with a tight print

New short-dated CLO brings triple-As down to 132bps
New York Life priced a rare short-dated new-issue US BSL CLO yesterday as its latest offering in its Flatiron series, in an upsized transaction 

Oaktree makes it two new US CLOs this year
On Thursday Oaktree Capital Management printed its second new deal of the year – a US BSL CLO valued at USD 406m

Symphony refis triple-As from TIAA’s debut CLO
Symphony on Tuesday priced a refinancing of the triple-A tranche from TIAA CLO 1, a US BSL CLO that was TIAA’s debut CLO in 2016

Sound Point refinances triple As of 2020 vintage CLO
Sound Point Capital Management has refinanced a single tranche of the 2020 vintage Sound Point CLO 28

Strong run helps CLOs shrug off Altice downgrade
It may be the largest triple C downgrade in years, but the CLO market is relatively unperturbed by Altice’s fall from grace.

Milbank staffs up after slew of London lawyers follow Goldfinch to Allen & Overy
Milbank has reacted quickly after five attorneys — including veteran European CLO lawyer John Goldfinch — moved to rival law firm Allen & Overy.

Private credit firms chase opportunities in asset based lending as US banks withdraw
Lending against assets is becoming the fastest growing part of private credit. The market is expected to grow from roughly USD 787bn in 2024 to more than USD 1.26trn in 2028, according to a report by Research and Markets, a data and statistics firm.

Distress rises in US CLO double Bs — but most have been in trouble for years
Despite the limited impact of the Altice debacle on the European market (as explored in our cover story), stress is building in some older US CLOs. The robustness of the CLO 2.0 structure has carried the market through a variety of crises, but now a number of junior tranches in US BSL CLOs are either defaulted or impaired.