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CQS resets European 2022 vintage CLO
1 day ago
Wrapping up a busy week for the European market, CQS Investment Management reset a 2022-vintage deal earlier this this month -
Benefit Street closes USD 850m special situations fund
14 days ago
Benefit Street Partners held the final close of an upper middle market focused special situations fund with roughly USD 850m -
ELFA names Rinaldi as co-Chair of CLO investor committee
1 month ago
The European Leveraged Finance Association (ELFA) has named Elena Rinaldi as the new co-chair of its CLO Investor Committee -
European reinvestment periods are ticking up, but we're not at 2021 levels yet
2 months ago
With market sentiment running at strong levels through the first quarter of this year, investor demand for new issuances has been likewise strong – and that’s been reflected in a continued uptick in the length of reinvestment periods for European CLOs -
European Union rolls out ELTIF 2.0 structure
3 months ago
The European Union’s latest regulations for its long-term investment funds — known as ELTIF 2.0 — went into effect on 10 January, ousting the old model to make it easier for both alternative investment managers and retail investors alike to tap into the market -
Permira confirms co-heads of credit platform
4 months ago
European alternative credit manager Permira Credit has named David Hirschmann and Ariadna Stefanescu as co-heads, effective immediately, as parent company Permira makes plans to expand the credit business -
Permira promotes Bauer to co-head of direct lending
4 months ago
Permira has promoted Jens Bauer from managing director to the role of co-head of direct lending investment team and investment committee member -
Credit impact fund surpasses $100 million target close
7 months ago
The fund targets companies that support social and environmental causes in Africa, Asia and the Americas -
European CLOs win out against US deals
7 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. -
Testing the water: issuers gauge sterling HY bond demand following 10-year record low
7 months ago
Pure Gym, a UK-based fitness club, has become the second company in a week to test demand for sterling-denominated senior secured notes in the European high-yield market -
ABS spreads hold up in spite of September issuance deluge, while CLOs soften
7 months ago
Trading activity in European ABS has slowed down, as the market absorbs one of the busiest months for issuance for years -
Axa Investment Managers beefs up staff with two senior credit hires
9 months ago
Axa Investment Managers hires portfolio manager on emerging markets and fixed income team, while also naming new head of private finance- alternative credit. -
Last frontier: Common currency conquers non-Eurozone countries to dominate lev loan market
9 months ago
Our latest DebtDynamics EMEA research shows that the share of the European leveraged loan syndication market denominated in the EU common currency jumped from 80% in 2015 to levels closer to 95% since 2019 -
Question your assumptions
10 months ago
Valuing CLO paper is complicated, and loan prepayments are one of the trickiest parts. When pricing a new issue CLO, the market generally assumes that 15-20% of loans will prepay their principal annually. This prepayment rate is important because it essentially determines the pace at which a CLO’s rated debt is paid off after the reinvestment period, when the CLO pays down its own principal. -
CLO co-head parts ways with Accunia
1 year ago
One of Accunia's CLO portfolio managers is understood to have parted ways with the firm last month -
Deutsche Bank European CLO head leaves as bank lines up high profile replacement
1 year ago
Deutsche Bank has reshuffled its European CLO desk, with several sources indicating its head of European CLO new issue has parted ways with the bank. Simultaneously, the bank have made a senior hire -
Carlyle liquidates European CLO warehouse as Credit Suisse exposure drops to zero
1 year ago
Carlyle Group has become the latest European CLO manager to liquidate its warehouse with Credit Suisse, according to sources, leaving the bank with no European CLO warehouse exposure -
Permira brings in Carlyle European special sits co-head for new business
1 year ago
Permira has strengthened its new strategic opportunities busines -
Onex promotes key CLO official to managing director in London
1 year ago
Onex Credit Partners has promoted its European CLO head -
Luxembourg regulator fines Pemberton after 2020 on-site inspection
1 year ago
Private debt manager Pemberton has been fined €22,100 by Luxembourg regulator CSSF after "failures to comply" with "risk management, general principles of the organisational requirements and the supervision of delegated activities" -
Senior CLO investor lands at fintech Revolut as head of global structured credit
1 year ago
A senior CLO investor has landed at rapidly growing fintech Revolut as head of global structured credit, in a move which suggests the start-up could start investing in CLOs -
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 -
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. -
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
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