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Nochu returns to CLO new issues after two-year break
2 years ago
Norinchukin Bank made its long-awaited return to the CLO primary market last month, investing in US CLO triple A notes once more -
Sofr transition timing puts CLO debt and equity at odds, says BNP Paribas
2 years ago
CLO investors look to have tough conversations ahead on the structure implications of the transition from Libor to Sofr, with BNP Paribas strategists noting CLO debt will benefit from an early move while equity tranches would do better to wait -
Fund performance: Dominant CLO funds look to end the year with 20%-plus gains
2 years ago
Once again the Creditflux hedge fund top 10 is dominated by CLO funds, with seven funds among the best performers in September. -
Credit hedge funds (November 2021)
2 years ago
Credit hedge fund returns -
Ucits at a glance: Robus and Altana enter the final sprint neck and neck
2 years ago
A downward turn hit Ucits funds as 65% of them made positive returns in September, -
Credit funds at a glance (November 2021)
2 years ago
A round up of fundraising and people moves in credit -
CLOs at a glance (November 2021)
2 years ago
A listing of CLOs that have priced in the last month -
Niche credit funds make mid-market flexibility count
2 years ago
Funds that have the flexibility to invest in mid-cap debt issuers prospered in September, amid the usual swarm of outperforming CLO funds -
Past returns: Insurers weigh CLO barbell trade to fight Solvency II
2 years ago
Five years ago in Creditflux we reported that insurers in Europe were putting on a CLO barbell trade in reaction to Solvency II regulations which came into effect in January 2016 -
They said it: "Remove call option from CLO assets and liabilities"
2 years ago
A CLO investor, commenting in Creditflux’s CLO Census, comes up with a drastic way of making CLO cashflows a whole lot easier to model -
Market seeks new ways to find talent after hectic year
2 years ago
There are growing calls for more people to work in the CLO industry after a record-shattering 2021, with 999 CLO transactions having priced globally worth $447.17 billion, as Creditflux goes to press -
FCA draws up new fund structure for long-term assets
2 years ago
The UK’s Financial Conduct Authority has finalised a new fund structure that is designed to make it easier for defined contribution pension plans to invest in long-term assets -
"CLO equity investors have long accepted basis risk… but an off-market adjustment does not work"
The 26bp adjustment is disrupting the transition away from Libor — but market forces will prevail -
CLO managers join forces as they line up behind SFDR
2 years ago
A plethora of European CLO managers have teamed up with regulatory reporting provider FinDox to form a working group focused on Sustainable Financial Disclosure Regulation (SFDR), sources tell Creditflux. -
Ares joins CLO equity fundraising rush with $400 million target
2 years ago
Fundraising for CLO captive equity funds is surging, with Ares Management the latest manager to win capital for such a strategy -
Sinking Euribor floor brings CLO relative value into play
2 years ago
The collapse in the value of the Euribor floor over recent weeks, which reflects inflationary pressures, may lead to global CLO investors favouring US CLO paper on a relative value basis -
Euro CLO triple As to tighten as new investors enter
2 years ago
CLO market participants anticipate European CLO triple As will grind tighter over the coming weeks as new buyers gobble up paper. -
Muzinich secures "substantial equity commitment" for new CLO platform
2 years ago
Muzinich’s CLO ambitions – reported by Creditflux late on Wednesday – are being supported by equity capital, both internally and through investors -
Hayfin creates head of ESG role in London
2 years ago
Hayfin Capital Management says it has hired a head of ESG. This is a newly-created role, but Hayfin says it has “well-established environmental, social and governance capabilities” -
Birch Grove increases CLO issuance pace with second new deal in three months
2 years ago
Birch Grove Capital has accellerated its CLO issuance after teaming up with Goldman Sachs on its third deal, named Birch Grove CLO 3 -
Wellfleet issues largest CLO in over three years
2 years ago
Wellfleet Credit Partners has paired with Credit Suisse to print its largest CLO since September 2018 -
Muzinch hires ex-Ostrum official to launch US and European CLO platform
2 years ago
Muzinich has hired an ex-head of global performing credit at Bardin Hill as a portfolio manager to launch a global CLO platform, -
The Last Tranche with New Mountain's Moshiri: New CLO managers may increase risk if they do not have stable equity capital
2 years ago
In this episode of the Last Tranche, New Mountain Capital's Cyrus Moshiri discusses the process of new firms entering into CLO management. Moshiri discusses whether an increase in new managers or consolidation is more likely, and how investors can analyse opportunities presented by upstart platforms -
BNP Paribas AM cuts CLO tranche costs throughout structure with refi
2 years ago
=BNP Paribas Asset Management has refinanced a 2019 Euro CLO, arranged via its banking arm, with tightening across all tranches -
Refi deluge casts shadow on b-wics
Refis and resets are cutting CLO lifespans short, which means there is less need to sell in the secondary market. Still, there are relative value opportunities in IG bonds and equity tranches2 years ago
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