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34 results found Showing page 1 of 2

  • CLO performance is faltering – a loans shock would help
    Early CLO 2.0s benefited from wide loan spreads. Today, that arbitrage opportunity has closed and returns have gradually diminished – yet there are now similarities to the market in 2007

    23 days ago
  • CLOs aren’t as similar as you might think
    Almost 70% of some managers’ portfolios overlap with those of their competitors. But the average overlap is around 35% so there’s plenty of room for managers to express their preferred strategies

    23 days ago
  • Issuers excited by busy first quarter
    After 13 months of compulsory risk retention for US CLOs, it seems that the simplified regulatory regime is already encouraging a host of CLOs from returnees and new entrants to the market

    23 days ago
  • Tracking down the credit industry’s original winners
    All winning managers at the first Creditflux awards survived the crisis, under their own names – like BlackRock – or under new owners. But what happened to the people who collected the trophies?

    23 days ago
  • Tastes change in secondary trading
    Our analysis of the secondary market shows that, since 2013, appetite for CLOs run by tier one managers persists through market dips and rallies.

    1 month ago
  • A credit market in constant flux
    Since Creditflux's launch in 2001, we've reported on CLO evolution, trendy new products, regulatory U-turns, and, of course, crashes. Which, we wonder, is coming next?

    1 month ago
  • Making it to the top: women reflect on changes in the CLO industry
    As a growing number of women break the glass ceiling and take senior positions in CLO firms, Creditflux asked about the opportunities and challenges they face. By Michelle D’Souza

    1 month ago
  • Tapping Europe doesn't always pay
    The premise – reaching a broader audience of investors – is sound. But some managers have found that opting for dual compliant CLOs is not worth the extra effort.

    2 months ago
  • Building new ways to evaluate CLOs
    For CLO investors, there is no longer a question of whether a particular CLO will be reworked; instead, they must judge when, and how dramatically, its terms will change. By Tom Davidson

    2 months ago
  • Managers predict skill will win out
    We asked managers to predict the year ahead across a range of credit strategies. Overall, they had a positive outlook. By Grace Jennings-Edquist

    3 months ago
  • Who predicted $145 billion of issuance?
    That went better than expected: US risk retention came in, and $145 billion of global new issuance later, it’s clear that CLOs aren’t disappearing. By Tanvi Gupta and Sam Robinson

    3 months ago
  • Manager activity spreads across US
    In 2016, there were 83 CLO managers active in the US; by the end of 2017 there were 121

    4 months ago
  • Managers pick spots on CLO curve
    As refi volumes slowed through 2017, the term curve for CLOs steepened, leading managers to vary their deal tenors as they sought to hit the evolving sweet spot.

    5 months ago
  • CLO managers return to new issues
    The frenetic pace of refis and resets slowed in the third quarter as CLO managers – new and old – turned their attention to building assets

    6 months ago
  • Genesis of a CLO desk
    On the 10-year anniversary of Genesis CDO I, Creditflux analyses the development of Deutsche Bank’s structured credit desk. By Hugh Minch

    7 months ago
  • Investors prefer direct lending to CLOs
    For the first time in the history of Creditflux’s credit allocator survey, investors have voted direct lending the best investment in credit. CLOs came joint second. By Michelle D’souza

    7 months ago
  • Finding horizontal and vertical angles
    2017 CLOs where managers hold a vertical strip have higher spread portfolios and higher leverage than those with a horizontal risk retention investment. By Tanvi Gupta

    7 months ago
  • Chance encounter sets up CIFC sale
    Selling a business can be arduous, frustrating and nerve-wracking. An exhaustive process does help – but sometimes it takes a bit of luck for a deal to go through

    8 months ago
  • CLO managers like range of options

    8 months ago
  • Spread decline makes style vital
    It’s not the number of CLOs you manage, it’s how you manage them: with 62 US firms pricing CLOs this year, managers are keen to stand out from the crowd

    9 months ago

34 results found Showing page 1 of 2

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