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Apollo’s Redding Ridge promotes Joe Moroney to CEO
4 days ago
Redding Ridge, Apollo's CLO management subsidary, has named Joe Moroney to be its new CEO -
Blackstone’s head of liquid credit Rob Zable set to leave firm
19 days ago
One of the biggest names in the CLO world is making a change, with Rob Zable leaving Blackstone by the end of the year -
A trusted brand is no longer enough — CLO manager tiering is now based on a range of data
1 month ago
Investors now pay close attention to the characteristics of each CLO, rather than relying solely on the collateral manager’s overall reputation or size -
Oak Hill seeks to raise new CLO equity fund with mammoth cap
1 month ago
Alternative credit manager Oak Hill is raising a huge new captive CLO equity fund to support global deal activity -
Global corporate defaults on fastest pace since 2009 according to S&P
6 months ago
The number of corporate defaults has risen dramatically year-to-date, according to S&P Global Ratings, driven by a doubling of the rate of defaults in Europe -
Basel III looks likely to further increase banks investment in CLO triple As
11 months ago
Demand for CLO triple As has grown substantially over the past few years as more banking institutions, pension funds, asset managers and insurance companies discover this attractive asset class, which historically has never taken a loss. -
Low warehouse balances show CLOs bracing for volatility
1 year ago
A record number of CLO warehouses are open but contain record low balances, according to several market sources. The figures indicate that CLO managers and equity investors are preparing for a sell-off in the loan market in the latter half of 2023. -
HPS raises $12 billion for fifth junior capital fund
1 year ago
HPS Investment Partners has closed its fifth junior capital solutions fund, HPS Strategic Investment Partners V, at $12 billion. With leverage, the strategy has $17 billion investable capital -
Barclays won't let sleeping dogs lie after another Newfoundland CLO reset
1 year ago
Newfoundland CLO, the long running and world's largest balance-sheet CLO, has been given a new leash of life by upsizing in a reset yesterday, according to announcements from Moody’s and Scope Ratings. -
Credit Rendezvous: Make yourself comfortable, there’s a storm coming
1 year ago
In our Q1 outlook, we speak to Edwin Wilches, PGIM (US CLOs), Mikkel Sckerl and Flemming Dose, Capital Four (European CLOs), Jim Fitzpatrick, CQS (US loans), Loic Prevot, Polus (European loans), Madelaine Jones, Oaktree (global high yield), Art Penn, Pennant Park (US direct lending), Mattis Poetter, Arcmont (European direct lending), Keerthi Raghavan, Waterfall (structured credit), Ray Costa, Benefit Street (distressed), Grant Webster, Ninety One (Emerging markets), Oumar Diallo, Aeon (real assets) for their views for the upcoming quarter. -
"This ‘higher rates for longer’ saga is more like the 1920-21 depression than the 1970s high inflation era"
1 year ago
Sometimes you have to swallow your medicine and take a step back to go forwards -
Points up front: Shhh, don’t tell! Secret CLO pricing is in progress
1 year ago
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 -
Fund performance: Wake us up when September ends
1 year ago
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 faces blind spot as borrowers enter higher default cycle: BNP Paribas
1 year ago
With short term rates outstripping nominal GDP growth, the credit cycle is entering its next and final stage – one in which corporate defaults will pick up but high quality borrowers should outperform -
"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 -
CLO debt prices imply default rate exceeding forecasts, says Orchard Global
2 years ago
Current pricing of CLO debt tranches implies a default rate that is "far in excess" of the most pessimistic forecasts, according to Orchard Global Asset Management -
Founder of Alcentra's structured credit business to step down as PM
2 years ago
A long-time CLO tranche investor is set to move away from day-to-day portfolio management duties and take on a new role as senior advisor -
Spreads trace worryingly familiar arc as investors take good news as bad and bad new worse
2 years ago
Credit spreads are pushing ever closer towards the year’s peak levels, continuing Wednesday a sell off that began on Tuesday, with positive US economic data perversely sparking a bearish shift in financial assets that negative European data has since compounded -
Widening asset/liability gulf will hurt CLOs: Barclays
2 years ago
A mismatch between CLO asset / liability rate risk is increasing in the US as more leveraged loan issuers opt for one-month pay frequency, Barclays credit strategists have found -
Making the grade: CLO managers move into IG bonds
2 years ago
CLO managers have been using the incredible volatility in credit markets this year to add an unfamiliar asset to their portfolios – investment grade bonds -
Credit PM pair seek galaxy of opportunities with long/short fund manager launch
2 years ago
Two experienced portfolio managers have set up a new venture to take advantage of volatile markets -
Eagle Point expands into structured products including SRTs with big hire
2 years ago
Eagle Point Credit Management has hired a head of ABS, MBS SRT and specialty finance, in a move which underlines the firm’s progression from a CLO equity investor to a broader credit asset manager. -
Real estate is about to get real bad: Welshcake
2 years ago
The extent of disconnect between real estate and what other markets have been experiencing is enough to convince me a whole other layer of economic mayhem is on the way. But investors in credit, for all their current pain, could still end up shining if they are prepared -
"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 -
"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
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