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New issue CLO dry spell ends as Ares produces tight US deal
2 years ago
Ares Management has broken a six-day new issue CLO drought, teaming up with Goldman Sachs on its second deal of 2021 named Ares LX -
CLOs come up smelling of roses
2 years ago
The coronavirus crisis could have cut back 10 years of CLO market progress, but investors’ foresight, trading chops and flexibility meant many saw their strategies blossom during 2020 -
LP round up: $3.2 billion flows to 21 managers as private credit illiquidity premium holds firm
2 years ago
Investors allocated at least $3.2 billion to credit managers in April - and direct lending funds were in favour with Churchill and Ares being awarded two mandates -
Credit fundraising: three massive European direct lending funds notch up €17.6 bn
2 years ago
Fundraising figures continued upwards in April as just over $24 billion was raised for credit funds, alongside $3.2 worth of allocations to credit managers. Nine funds held final closes including the largest European direct lending fund raised to date -
Ares flush with cash after raising €15 billion for European direct lending
2 years ago
Ares Management has raised one of the largest European direct lending funds on record and, with leverage, the fund expects to have a whopping €15 billion to deploy -
CLO pipeline: go long! new issues and resets push refis aside
2 years ago
The CLO market is ready to go beyond refinancings - after this year's opening blitz of those deals - into the longer tenored territory of resets and new issues -
Credit funds at a glance (April 2021)
2 years ago
A round-up of fundraising and people moves -
Ares brings CLO's leverage down to less than five turns in $1 billion-plus reset
2 years ago
Ares Management has upsized its second largest CLO in a reset, bringing the deal to a par value of $1.19 billion - the seventh biggest CLO backed by broadly syndicated loans in the market -
Four managers win lucrative $700 million credit mandate
2 years ago
A $39 billion pension has selected four managers for an opportunistic credit mandate and identified a further four ‘bench’ managers -
Ares shaves 20bp off triple As with European CLO partial refi
3 years ago
Ares Management has refinanced the triple A notes on its 2014 vintage European CLO, Ares European CLO VII -
Ares affiliate re-emerges in mid market with first primary CLO for three years
3 years ago
Ivy Hill Asset Management, the direct lending affiliate of Ares Management, has priced its first CLO primary market transaction in almost three years, completing a $499.3 million new issue backed by loans to middle market companies -
Allstate CLO takes on ESG guidelines following reset
3 years ago
Fair Oaks Capital has laid claim to the first instance of converting a US CLO into an ESG-compliant transaction courtesy of a reset following the reworking of Aimco 2017-A this week -
Refis price on top of new issues as four managers print US CLOs
3 years ago
Four US CLO refinancings priced yesterday, giving the impression that CLO pricing is fitful and the term curve flat -
Ares pledges charitable donations based on success of new $3.7 billion fund
3 years ago
Ares Management Corporation has held a final close on Ares Pathfinder Fund at its $3.7 billion hard cap - and portfolio managers will commit at least 10% of the fund’s caried interest profits to global health and education charities -
CLO pipeline: busy year, so let's take time to reset
3 years ago
The US CLO market this year has been dominated by new issues and refinancings, but now is the time of the reset judging by this week’s pipeline -
Ares joins group of tight US issuers with sixth tightest 2021 CLO
3 years ago
Ares Management became the eighth CLO manager of the year to issue a five-year deal with funding costs below 150bp on Tuesday by teaming up with Natixis on its latest issue named Ares LIX -
Credit fundraising: ESG centre stage as capital pours into new strategies
3 years ago
Sustainability was the watchword for fundraising in February, amid a flurry of fund launches as well as first closes for impact funds and sustainable bond funds -
European CLO repricings top €8 billion in 2021 as Ares and PGIM rework deals
3 years ago
Ares and PGIM printed two repricings of European CLOs on Wednesday, taking year-to-date volume to €8.29 billion -
Ares, Brigade and Redding Ridge issue CLO resets totalling $1.61 billion
3 years ago
$1.61 billion in CLO resets issued on Wednesday as new deals emerged from Ares Management, Brigade Capital Management and Redding Ridge Asset Management -
Ares holds first close of junior direct lending fund as it eyes 'dozens more' $1 billion-plus funds
3 years ago
Ares outlined several credit fundraising initiatives in its fourth quarter earnings call - among which were a first close of its latest junior direct lending fund, upping the target for its credit special situations fund by over $1 billion, as well as new product launches including an evergreen alternative credit fund -
LP round up: Dutch pensions put €1.3 billion into infra debt
3 years ago
Institutional investors allocated over $2 billion to credit funds in January. Opportunistic credit funds were a favourite but the biggest moves came in infrastructure debt -
Goldman Sachs collects $4 billion for large cap direct lending
3 years ago
Goldman Sachs Merchant Banking Division has raised at least $4 billion for its fourth large cap-scale direct lending fund, Broad Street Loan Partners IV -
LP round up: pensions plan private credit pacing as strategic credit takes on "midfield" role
3 years ago
US pensions have allocated $1.4 billion across 22 credit funds including those managed by Angelo Gordon, Ares and GoldenTree, according to recent board documents seen by Creditflux. Meanwhile a pension fund draws parallels between strategic credit and Jordan Henderson -
HPS managing director joins Ares direct lending team in New York
3 years ago
Ares Management has added to its direct lending team in New York -
Ares/Crestline CLO overlap jumps to 60% following Ares takeover, Fitch says
3 years ago
CLO acquirers have been busy converting purchased portfolios to their house-style, according to research by Fitch
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