Weren’t there more of us than this?
According to this year’s Creditflux CLO Census, the CLO industry is not feeling optimistic. Some investors have vanished and managers have not taken advantage of helpful market conditions

New US CLOs brace for EU’s Article 7 reporting requirements
Investors now need Article 7 reporting compliance for new non-EU securitisation investments (such as US CLOs). This includes high-level portfolio reporting to investors, including loan-by-loan data in greater depth than even CLO trustee reports provide.

European CLO market weathers liability-driven investment crisis as just 4% of b-wics fail to trade
European CLO b-wic supply surged in September as liability-driven investment strategies sought to raise collateral via the floating rate CLO market.

Apollo scooped up $1.1 billion CLO paper amid UK LDI crisis, officials confirm
Apollo Global Management bought a whopping $1.1 billion of triple A and double A-rated CLO paper yielding over 8% in the three weeks of elevated bwic supply in October

Cairn begins "new chapter" as it rebrands to Polus
Cairn Capital has been renamed Polus Capital Management, which brings it together with Bybrook Capital, the credit asset manager it acquired in 2021.  

Nuveen raises $150 million to invest further in CLOs
Nuveen is expanding its CLO product suite with the launch of a new CLO opportunities fund, according to recent regulatory filings

Past returns: Alhambra CLO paves the way
Five years ago in Creditflux, we reported that Be-Spoke Capital was launching the first SME European CLO since the financial crisis.

They said it: "I don’t know and I don’t care about ESG"
One of our CLO Census responders has a strong view (or not) on ESG

Refi wall looms over CLOs as a fifth exit reinvestment
Loan and high yield issuers have a decent runway before they have to think about refinancing their debt, but CLO issuers are not sitting quite as comfortably.

Nochu turns tables after experiencing CLO walkouts
Norinchukin Bank’s retreat from global CLO investing — having agreed to take down the senior notes of several upcoming CLOs — has disappointed market participants. However, although they don’t condone such actions, sources say there were mitigating circumstances

Points up front: Shhh, don’t tell! Secret CLO pricing is in progress
The CLO industry has come a long way in the last decade — so much so that managers can now boast of their track records and CLOs are no longer (wrongly) touted as the acronym that caused the 2008 financial crisis. But in recent weeks some CLO market participants seem to have gone back to a time when pricing a CLO was taboo

Points up front: CLO managers didn’t take advantage of volatility, say CLO managers
Creditflux’s CLO Census shows CLO managers can be hard on themselves

Fund performance: Wake us up when September ends
After a resurgent August, credit markets hit a rough patch in September, with every Creditflux index posting negative returns, and only 12.9% of funds in our listings showing a positive return.

Credit hedge fund returns (November 2022)
Credit hedge fund returns

Credit funds at a glance (November 2022)
A round up of fundraising and people moves in credit

CLOs at a glance (November 2022)
A listing of CLOs that have priced in the last month

Ares targets today for European CLO pricing
Ares Management is targeting today to price its new issue European CLO, Ares European CLO XVI

Sculptor CEO Levin refutes "personal issue" accusation by ex-chief Och
Sculptor Capital Management’s independent board and the company’s chief executive officer and chief investment officer Jimmy Levin have fired back at former CEO and founder Daniel Och after he cited a “personal issue” in reference to Levin’s past

Franklin Templeton wraps up deal for $35bn Alcentra
Franklin Templeton has completed its acquisition of BNY Mellon’s $35 billion credit unit Alcentra

Double, double, but no toil and trouble as Neuberger and Oaktree deliver Euro CLO treats
The primary CLO market was revived yesterday after two managers brewed new European deals, taking new issue 2022 volumes to just over €22 billion

Ares markets first 2022 CLO in Europe
Ares Management is targeting Wednesday to price a new issue European CLO 

CQS returns to Euro market with first new CLO since 2015
CQS has priced its first European CLO in seven and a half years, opting for a short reinvestment and non-call period

Private equity firms are becoming CLO converts: TwentyFour
Private equity firms have increasingly bought CLO and other securitised debt tranches in recent weeks instead of their usual preference for physical assets - a trade TwentyFour believes "makes perfect sense"

Creditflux CLO Census results: JP Morgan claims clean sweep of US CLO arranging categories
Following the close of this year’s census, JP Morgan was a quadruple winners in the US, with results declaring it the best at syndicating, structuring and providing both the best access to loans and the best warehouse service

Nuveen strikes deal to buy European direct lender Arcmont
Nuveen has reached an agreement to buy a controlling stake in European credit manager Arcmont Asset Management