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Atlas SP joins new CLO arrangers vying for growth as sector booms
2 months ago
Apollo Global Management affiliate Atlas SP has joined the ranks of CLO arrangers, adding to the burgeoning number of new entrants eager to get into the lucrative business -
The Last Tranche with Christine Ferris
5 months ago
In the latest edition of The Last Tranche podcast we talked to JP Morgan’s global head of CLO primary Christine Ferris about why she loves working with debut managers, despite the extra challenges they face coming to market. -
Fed members need to restore their credibility, which could translate into excessive tightening
1 year ago
Rising wages have boosted spending and GDP — but the party can’t last forever -
Borrowers are finding creative ways to address loan maturities
1 year ago
Amend and extends have been the loan market’s flavour of the year. At the same time, many CLO reinvestment periods are reaching their end because the reset market is virtually closed. -
Past returns: Truly transatlantic
1 year ago
10 years ago we reported on Axa Investment Managers’ plans to enter the US CLO market. -
Past returns: Tracing Fair Oaks’ roots
1 year ago
10 years ago in Creditflux, we reported on Miguel Ramos Fuentenebro’s nascent firm GMB Partners securing its first mandate -
"Dispersion should manifest in potential fallen angel credits that are likely to proliferate"
1 year ago
IG and crossover names present a compelling alternative to shorting HY credit -
“Pension fund managers should look to take advantage of a rare opportunity in corporate CDS”
1 year ago
The October sell-off in gilts highlights a glaring lack of exposure to CDS -
"Value persists in IG, but higher interest rates are a threat. Opening the synthetic toolbox can help"
1 year ago
Fiscal and monetary policy are pulling in opposite directions, but value in IG can be accessed via CDS and CSOs -
"Short memories forget how rampant anti-EU sentiment was before Mario Draghi became Italy’s prime minister"
2 years ago
Unrest in Italy threatens to escalate into a bigger crisis than Greece in 2012 -
"The shutdown of economies in the pandemic showed it’s better to suffer up front"
2 years ago
Rather than prolong the agony, central banks would be better off bunching their planned rate hikes into one -
"Derivative longs versus cash corporate shorts looks attractive, especially if we see a market sell-off"
2 years ago
Technicals are keeping cash credit spreads tight, but as central banks reduce purchases there will be relative value opportunities -
"The loan market is the septic tank for sub-single B LBO financing"
2 years ago
Portfolios of single name IG CDS are less complex and more liquid than CLOs -
"Europe undermines itself through fossil fuel addiction while the UK baulks at expunging oligarchs"
2 years ago
Russia’s actions in Ukraine are deeply troubling, but there is hope for the future -
"Pivot points in curves may not stay where they have been historically"
2 years ago
CTAs and CSOs are changing the way credit curves move -
Past returns: Ares constructs private CLO
2 years ago
In Creditflux 10 years ago we reported on Ares Management putting together a quasi-CLO in a bilateral transaction involving senior debt investor Sumitomo Mitsui Banking Corporation -
The Creditflux CLO Symposium was back as an in-person event for the first time in two years and participants were delighted to socialise and bask in an amazing year for the credit industry2 years ago
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"The CLO industry can be a little clubby… it feels like there are few advocates"
3 years ago
Pension Danmark's David Altenhofen taks our credit quiz -
"There are concerns about volatile sectors in high yield, but IG may be vulnerable to macro changes"
3 years ago
High yield has heavier exposure to energy and travel credits, but IG has more rate duration -
"Do not rush to set up a check-box approach with negative screening and start de-investing"
3 years ago
Instead of rushing through an ESG framework, asset managers need to adopt a long- and short-term approach -
"It’s not unusual for investors to toggle between the US and Europe depending on pricing and terms"
3 years ago
The accents may be different, but US and European direct lending markets have a lot in common -
"In some ways, CLOs resemble a quirky, cottage industry more than a trillion-dollar market"
3 years ago
CLO volumes outstanding have passed $1 trillion, but index omission and private placements are holding us back -
"Low inflation was in part responsible for fostering a transfer of returns from creditors to shareholders"
3 years ago
We are conditioned to fear inflation risk. But it brings plenty of positives -
"In the afternoon I awoke from a pile of willow leaves to discover we had created a Welsh ether-based token"
3 years ago
A localised crypto-currency boom and bust cycle teaches Welshcake (again) that everything becomes correlated in a downturn -
Past returns: Having a whale of a time in tranches
3 years ago
In Creditflux 10 years ago we reported on JP Morgan’s “little known prop book” making waves in index tranches
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