CSAM sees sun after nine years in shade

Two roads diverged in the CLO wood

Investors seek oasis as new issues dry up

Market rallies as key CLO investor retreats

Managers slide down term curve
PGIM and Voya were among managers issuing short dated deals in the first quarter. These CLOs, along with a surge in b-wics, kept up the supply of short dated paper as refinancings fell away

Keep calm and buy corporate loans
Calm heads prevailed in 2018. Markets were volatile and risk retention was supposed to cause problems, but there was no need to panic and volumes went on to break records set in 2014

Widening whisks market back to 2017
Right now, CLO volumes are healthy and the list of active managers is steadily growing. But with CLO liability spreads reverting to where they were a year ago, some issuers are a little nervous.

Not a bad time to try your hand at CLOs

Investors gain upper hand in doc negotiations

Rebooting the CLO market
Switching off and on again proved a popular tactic for CLO managers last year as refis and resets helped push issuance to $132 billion

CLO refis take centre stage
The third quarter CLO league tables cover a period in which issuance has been increasing while the total size of the market has fallen

A legacy market no longer
CLO calls, step-up refis and a recovery in new issuance have all changed the CLO market in the second quarter of 2016

Hey, $125 billion isn’t bad
Despite generally gloomy sentiment about the market, 2015 was second only to 2014 for global full-year CLO issuance

Citi stays top as CLOs take pause
Issuance volumes nosedived in the third quarter of this year – but still there were notable new issuers and returns to the market

Fortress distressed fund puts it top of credit hedge fund ranking
Despite some well publicised stumbles, the credit hedge fund sector as a whole is in excellent health, with Fortress, MKP and BlueMountain topping the ranking

Holding course for a record year
Following a record first quarter, CLO issuance was steady enough in Q2 that the year's overall total should equal or exceed 2014 volumes

Citi stays top as CLO volumes explode
2014 was a year of superlatives for the CLO market. Our analysis shows which arrangers, managers and service providers were most successful

CLO surge through third quarter
US CLO volumes stayed strong in the third quarter, with GSO remaining as the largest manager globally and Citi once again taking the top arranger place

CLO 2.0s overtake legacy market
The second quarter of 2014 shattered the post-crisis record for CLO issuance. But which managers, arrangers and service providers were part of the bonanza?

CLO market powers ahead in Q1
After a busy first quarter, our regular CLO industry snapshot – which ranks managers, arrangers, trustees and counsels – shows Carlyle and BAML doing well

2013 sees CLOs go global again
The top arrangers, the biggest managers and the leading law firms and trustees in the CLO universe – they're all in our expanded survey

JP Morgan takes CLO arranger crown
It has been a bumper quarter for top arranger JP Morgan, but overall CLO outstandings held steady and have yet to match their 2008 high

Biggest managers deal their way to bigger share of CLO market
Mergers have helped the largest managers to increase dramatically their share of the CLO market. But as Arrowpoint shows, there is still room for new entrants

BAML snatches top spot from Citi
Bank of America Merrill Lynch beats off regular winner Citi by a whisker in second quarter race to be world number one CLO arranger

Oaktree tops first ranking of credit hedge funds
A new ranking of credit hedge funds by assets under management reveals that high yield veterans continue to dominate the business