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Creativity pays off as investors lap up static euro CLOs
1 year ago
Amid a challenging CLO landscape in Europe, managers and arrangers showed creativity in 2022. -
They said it: "You have to question whether the vast array of CLO managers should... "
1 year ago
A credit investor questions the sheer number of CLO managers -
Points up front: Whatever the size, CLO performance dwarfs others
1 year ago
A graphic depicting the investment fund universe was doing the rounds on social media late in 2022... -
We made the most of a tricky situation
The contrast between 2021 and the following 12 months could not have been starker. But although some heavy hitters remained on the sidelines, 94 US CLO managers priced new deals in 2022 -
Not every CLO can be a winner
The CLO industry has undeniably performed well enough to justify the plaudits it receives. But there will always be some unloved CLO tranches that slip into triple C territory -
Fund performance: Light at the end of the tunnel for credit funds after difficult year
1 year ago
Following a tough September, credit funds bounced back in October as 59% of funds made positive returns. -
Credit hedge fund returns (December 2023)
1 year ago
Credit hedge fund returns -
Credit funds at a glance (December 2023)
A round up of fundraising and people moves in credit -
Nassau prints upsized second Euro CLO
1 year ago
Nassau Corporate Credit has wrapped up its second European CLO today via Jefferies, just over one year after making its debut on the continent -
Beneath the triple C: Winter is coming for CLOs as downgrades outstrip upgrades
1 year ago
Both US and European issuers have felt downward pressure from the rating agencies as we head towards the end of the year, with downgrades to triple C now firmly outpacing upgrades out of it. -
Bain holds final close on $650 million fund to buy own CLO equity globally
1 year ago
Bain Capital Credit has closed its second captive equity fund with $650 million commitments, thought to be among the largest manager-controlled CLO equity funds raised -
Axa CLO fund uses swaps and T-notes as hedges for 'more pronounced' 2023 recession
1 year ago
Axa Investment Managers says it is using swaps and T-notes as hedges for its publicly listed CLO fund, Volta Finance, with the firm believing a recession in 2023 may be more pronounced than expected -
Belstar partners with Apollo to launch global corporate and structured credit fund
1 year ago
Belstar Management Company has launched a credit fund to invest across global liquid and private credit - including both corporate and structured credit -
Details emerge on investor-driven Hayfin European CLO
1 year ago
Hayfin Capital Management priced a European CLO on 1 December, with sources indicating one account took triple As to triple Bs -
LP round up: 27 managers find the top corner with investor wins
1 year ago
Credit fund managers like to take it one fund at a time and give it 110% for their 90-minute investor fund pitches - and it's working as $3.8 billion was allocated during November and early December. The gaffer would be proud. -
European CLO equity outperforms single Bs amid high return dispersion: Bank of America
1 year ago
European CLO returns have been negative across the capital structure this year, a research paper from Bank of America has found. Losses have been softened however due to an increasing three-month Euribor rate, high carry relative to corporates and relatively stable equity returns. -
Experienced CLO PM parts ways with Angelo Gordon
1 year ago
An experienced CLO portfolio manager has left the firm, having built out its European platform -
Global CLO league tables - November 2022 YTD
1 year ago
Global CLO league tables - November 2022 YTD -
Euro CLO league tables: Final whistle beckons in close manager race as Jefferies looks to park the bus
1 year ago
Last month, just shy of €3 billion of European CLO paper was priced in the primary market, the most since March and Russia’s war with Ukraine -
PM lands at $3 billion credit shop to build European CLO platform
1 year ago
The European CLO manager universe looks set to grow even further, with a Five Arrows portfolio manager having been hired to help build a CLO platform -
New credit hedge fund explores European CLO management
1 year ago
A relatively new credit hedge fund has become the latest firm to explore European CLO management, joining the growing list of prospective debut managers -
Euro CLOs have better 2023 entry point than US in $140 billion issuance year: Barclays
1 year ago
CLO performance and issuance may have to wait until the second half of next year for improvement, say Barclays credit strategists in a 2023 outlook piece. But Europe could fare better than the US given starting levels in a year the market faces some challenging regulatory hurdles -
Euro CLO new issuance could reach €22 billion in 2023, says BofA
1 year ago
European CLO new issuance will reach €22 billion in 2023, strategists at Bank of America expect, while refinancing / reset volume should reach €3 billion under a ‘base case’ scenario -
Euro CLO manager closes second captive equity strategy at €228 million
1 year ago
An experienced European CLO manager is taking care of its CLO issuance for the next few years -
US manager becomes latest to register triple A CLO ETF
1 year ago
The manager joins the likes of BlackRock, PineBridge and VanEck, Janus Henderson and AXS to use exchange traded funds to invest in CLO tranches
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