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Debut manager markets first European CLO
5 hours ago
A new European CLO manager is in the market with its first CLO, with the deal expected to price in the next few days -
Distress rises in US CLO double Bs — but most have been in trouble for years
12 days ago
Despite the limited impact of the Altice debacle on the European market (as explored in our cover story), stress is building in some older US CLOs. The robustness of the CLO 2.0 structure has carried the market through a variety of crises, but now a number of junior tranches in US BSL CLOs are either defaulted or impaired. -
Sculptor launches CLO captive equity platform
13 days ago
Sculptor Capital Management launched its new CLO captive equity platform today, anchored by a commitment from Rithm Capital -
CLO managers laud market’s shift away from direct lending
1 month ago
This year’s annual SFVegas shindig had a record 8,900 registered delegates, and every CLO panel included a discussion of two key themes, including the highly publicised fight between the broadly syndicated loan space and private credit lenders. -
How many CLOs will be reset?
1 month ago
Tightening liability spreads aren’t just driving record new CLO issuance this year — they’re also triggering a wave of resets and refinancings in the US, especially for broadly syndicated CLOs -
How many CLOs will be called this year?
1 month ago
Most CLOs are called when loan market prices are high. Distributions and equity NAV are also important, and they suggest that over 30 2017 and 2018 deals are now ripe for redemption -
Ask the market where spreads are heading
2 months ago
Nothing brings the CLO market together like a good moan about the state of the arb. But according to our data, the arbitrage for new-issue US CLOs has remained in the same range for years. -
UK-based manager looks to restart European infra CLO market
2 months ago
RM Funds, an Edinburgh-based infrastructure debt investor, is looking to launch the first European infrastructure CLO since 2008 -
Santander continues push into CLO structuring with new refi
2 months ago
Sculptor Capital Management last week priced its first deal of 2024, continuing Santander's rapid growth as an arranger, coming just days after its first lead arranger credit on Z Capital Credit Partners BSL CLO 2024-1 -
How worried should we be about defaults?
4 months ago
As defaults in the US loan market continue to stack up, we investigate the fallout for CLO investors by focusing on the OC tests of double B tranches across 10 years of US CLO vintages -
What CLO investors really need to know
4 months ago
From the drivers of CLO performance to cashflow modelling, these are the seven things every CLO equity investor needs to know. This article is an extract from Dealscribe and CLO Research’s guide What CLO Equity Investors Need To Know -
European CLOs win out against US deals
6 months ago
Last month, our analysis explored the performance of US CLOs that were previously reset. We found that they delivered higher distributions than deals which weren’t reset, with the exception of the 2017 and 2018 vintages (Creditflux September 2023 — Do resets help CLOs perform better?). This article expands that analysis to the European market, and compares the performance of US BSL and EU CLO equity tranches. -
Do resets help CLOs perform better?
7 months ago
As the market for CLO resets opens, we look at the performance of deals that were previously reset, and find they soon deliver higher distributions than those deals that were not reset -
Credit Suisse/UBS deal to create $5 trillion asset manager
1 year ago
The emphasis is set be on wealth and asset management, according to a statement released by UBS in conjunction with its move to acquire Credit Suisse -
First Eagle promotes four across syndicated loans and direct lending
1 year ago
First Eagle Alternative Credit has promoted four officials to senior-level roles across its direct lending and syndicated loans businesses -
Former Zais CLO portfolio manager joins Sancus
1 year ago
Sancus Capital Management has hired a CLO business development head and portfolio manager from Zais Group -
Sound Point holding CLO M&A talks which could catapult it to fifth-largest manager
1 year ago
Sound Point Capital Management is locked in talks with a large, global CLO manager over a deal that could take its CLO AUM north of $36 billion -
Experienced CLO investor parts ways with bank treasury desk
1 year ago
A senior triple A CLO investor has parted ways with a treasury desk ahead of a move to another financial institution -
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 -
Plenty more US CLOs in the CCC as buckets pass 5%, finds S&P
1 year ago
US CLO triple C baskets have nudged to 5.02% in November from 4.4% the prior month -
Chenavari strikes gold with senior CLO and ABS trading hire
1 year ago
Chenavari Investment Managers has made a senior hire to its European CLO and ABS trading team -
Founder of Alcentra's structured credit business to step down as PM
1 year 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 -
Eagle Point expands into structured products including SRTs with big hire
1 year 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. -
RBC CLO structuring head set to return to old stomping ground
1 year ago
Royal Bank of Canada’s head of CLO structuring is poised to rejoin a former employer, ending his stay at RBC after just a year -
Citi structured credit specialist leaves after 15 years
1 year ago
A key figure in Citi’s European structured credit business since 2007 has joined Julius Baer as head of corporate finance advisory
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