Napier Park resets its second 2017 vintage this month
Napier Park on Friday reset Regatta VIII Funding, a 2017 vintage US CLO. It’s the second reset this month of a Napier Park deal from that year.

Relative to Airbus, Boeing was long accountants but short engineers
A qualitative approach can help investors spot boards that are too focused on short-term returns

Marathon refis 2019 vintage US CLO
Marathon Asset Management undertook a second partial refinancing of its 2019-vintage Marathon CLO XIII, following its first restructuring in 2021

CSAM prices third new US CLO of the year
Credit Suisse Asset Management printed its third new US CLO of 2024 yesterday

How many CLOs will be called this year?
Most CLOs are called when loan market prices are high. Distributions and equity NAV are also important, and they suggest that over 30 2017 and 2018 deals are now ripe for redemption

CLOIE goes global with expansion into European CLOs
JP Morgan has expanded its widely tracked CLO index to Europe with the launch of the JP Morgan European Collateralized Loan Obligation Index (€-CLOIE)

CSAM adds new US BSL deal
Credit Suisse Asset Management has priced Madison Park Funding LXVII, a USD 500m new US CLO.

Tikehau teams up with Singapore-based UOB-Kay Hian for Asian private credit fund
Paris-headquartered Tikehau Capital is the latest player to reveal plans to strengthen its footprint in the fast-growing Asian private credit market by way of a partnership with Singapore-based brokerage firm UOB-Kay Hian

RR ABS returns with new Vista deal
The growing market for recurring revenue securitizations saw a boost last week with the pricing of VCP RRL ABS III

Alternative asset managers increasingly tapping wealth channel for private credit fundraising
Wealthy individual investors have become increasingly appealing to alternative asset managers looking to raise money for private credit funds as asset managers look to broaden fundraising beyond institutional investors

CSAM refinances giant 2014-vintage US CLO
Pricing its second deal in the space of a week, Credit Suisse Asset Management is in the midst of a prolific February, with its latest transaction a sizeable USD 736.737m refi arranged by Nomura

Reissue market brightens as Vibrant reworks 2018 deal
Vibrant Capital Partners has joined the rush of activity in the primary market, last week pricing a USD 425.25m reissue in conjunction with BNP Paribas

Muzinich launches investment-grade credit fund
Muzinich & Co. has launched the Muzinich Global Market Duration Investment Grade Fund, which will focus primarily on investing in global corporate investment grade bonds

Dynamic duo strike again with another tight print
Bain Capital Credit has elected to build on its established relationship with Mizuho for its latest CLO, which priced yesterday, continuing the partnership that led to three separate deals pricing over the course of 2023

CLO market round-up: holiday cheer hits as US senior spreads move in
The holiday period saw a brace of end-of-year US deals pricing, with a range of new issues, resets and a refi to lead the market into 2024, and senior spreads move firmly back in the 160s.

Fund performance
Q4 has kicked off with structured finance funds leading the way in the Creditflux league tables, as the category index reached 0.61%, and all but one fund made positive returns.

KKR adds US reset to 2023 tally
In what is likely to be one of the last primary market CLOs to price in 2023, KKR last week reset its 2022-vintage US BSL KKR CLO 43, with Deutsche Bank acting as sole arranger

Second US infrastructure CLO this year prices
DWS Group has priced the latest of its infrastructure-focused RIN series of CLOs, with a USD 350m deal arranged by Société Générale

Anchorage resets 2022 European CLO
As the CLO pricing year begins to wind down, Anchorage Capital last week undertook a reset for one of its short-dated 2022-vintage European deals, Anchorage Capital Europe CLO 6

CLO market round-up: 20 - 24 Nov 2023
Thanksgiving or not, last week was a banner week for middle market CLO deals, with no fewer than five pricing

Hayfin prices short-dated CLO
After a quiet year in the primary market Hayfin Capital Management returned last week with a short-dated European CLO

CIBC breaks into CLO market with first deal as sole arranger
CIBC arranged a new issue US CLO for Trinitas Asset Management last week, marking the Canadian bank’s first deal as sole arranger

KKR makes it four US CLOs this year
KKR last week priced its biggest CLO of the year, a half-billion-dollar new-issue US transaction, in a deal arranged by Citi

Centerbridge returns to the market with new US BSL CLO
After a somewhat quiet year on the primary market, alternative investment manager Centerbridge Partners this week priced its first CLO since February, in a USD 475.35m transaction

Blackstone prices BDC CLO
The past few days have seen a bevy of action in the middle market CLO space – alongside Barings’ double deal and the new Athena II CLO from Blue Owl, Blackstone priced its first offering in the private credit space, with an upsized USD 492.665m transaction.