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ABS spreads hold up in spite of September issuance deluge, while CLOs soften
8 months ago
Trading activity in European ABS has slowed down, as the market absorbs one of the busiest months for issuance for years -
Question your assumptions
11 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. -
Senior CLO officials leave Natixis in shock round of resignations
1 year ago
Natixis has been rocked by the departure of four senior members in its CLO and structured credit team -
CQS returns to Euro market with first new CLO since 2015
1 year ago
CQS has priced its first European CLO in seven and a half years, opting for a short reinvestment and non-call period -
Natixis makes structured credit promotions after key figure departs
1 year ago
Natixis has responded to the departure of its co-head of global structured credit, solutions and credit trading, by making several promotions -
Manager selection stakes are heightening as CLO pain points intensify: Barclays
2 years ago
CLOs’ slump in market value and piling of distressed assets have made differentiation between managers much more acute on key metrics, regionally and by vintage, according to Barclays credit strategists -
Paul Hastings adds to structured credit expansion with London partner hire
2 years ago
Paul Hastings has added to its push in structured credit with the hire of a partner to the team in London -
Hidden loan tail risks and mounting single B exposure could pose problem for CLOs: Barclays
2 years ago
A solid rally for leveraged loans this week - against returning weakness in bonds - has put focus back on the market, which seemingly has little tail risk priced in. But short term support factors and a dwindling triple C bucket mask the quality skew, warn Barclays strategists in a note today - which could spell downgrades for single-B minus rated loans -
MidOcean announces promotions in credit business
2 years ago
Two portfolio managers are among those to earn promotion at MidOcean Partners -
Gapstow expects strategic deals as credit manager M&A volume slumps to $120 billion
2 years ago
M&A volume involving credit asset managers dropped last year with total target value assets under management slumping to $120 billion from $149 billion in 2020 (and $254 billion in 2019), according to Gapstow Capital Partners -
Pemberton lands big name structured credit specialist as it drives into SRTs
2 years ago
Pemberton has hired a senior banking figure well known to the structured credit market to oversee a risk sharing strategy at the firm -
Signal detects European CLO options for upcoming fund
2 years ago
Signal Capital has plans to capitalise on the European CLO and ABS market, with sources indicating the special situations fund manager is seeking to launch a relative value hedge fund focused on these asset classes in September. -
LP round-up: $2.6 billion flows into 26 credit managers
3 years ago
A stuck ship in the Suez Canal may have prevented others from getting through one of the world's busiest waterways in March, but allocations to credit funds were much more free flowing as investors poured over $2.6 billion into the hands of credit managers -
Loomis Sayles promotes official to structured credit portfolio manager
3 years ago
The Boston based official will co-manage the Loomis Sayles Investment Grade Securitised Credit strategy with Alessandro Pagani, head of the $30.4 billion mortgage and structured finance team -
Stone Point and Wilton Re invest $100 million in Nassau
3 years ago
Nassau Financial Group says Wilton Reinsurance Company and Stone Point Credit have invested $100 million in its business through a new series of non-cumulative perpetual preferred equity -
Munich Re makes senior structured credit hire
3 years ago
Munich Re has hired one of the co-heads of structured products solutions at Mizuho to join its team in London -
Former GoldenTree high-flyers launch structured credit firm in Los Angeles
3 years ago
A former GoldenTree senior portfolio manager and business development specialist have launched an asset manager that will invest across an array of structured credit, including CLOs, synthetics and private transactions -
One William Street launches fifth ABS-focused fund
4 years ago
One William Street Capital Management has launched its fifth ABS focused fund, OWS ABS Fund V -
RBS makes cuts to ABS and CLO team as part of broader restructuring
4 years ago
Royal Bank of Scotland has made cuts to its ABS and CLO team as part of a broader restructuring plan, a spokesperson for the firm has confirmed -
BlueMountain weighs up joining cluster of 2.0 CBO issuers
4 years ago
BlueMountain Capital Management has its eye on managing CBOs. This market has grown steadily since Anchorage Capital priced the first 2.0 CBO in May 2015 with another six firms issuing such securitisations. -
Citi names sales head with global structured credit remit
5 years ago
Citi has promoted Rajiv Amlani to global head of special products solution sales, in which he will be responsible for non-flow structured credit and securitised trading business -
Blackstone builds on multi-asset approach with fifth fund
5 years ago
The new vehicle will invest directly into Blackstone deals across its alternatives platform -
Apollo draws in $2.36 billion for structured credit fund
5 years ago
Apollo Global Management is edging towards a final close for its fourth structured credit fund -
Join the debate: most memorable moment in credit
6 years ago
At Creditflux we’ve now produced 200 monthly magazines since Fishknife first came up with the idea of tracking the global credit markets in 2001). We asked several key credit industry officials about their most memorable moment in credit -
Structured credit specialist swaps CSOs for CLOs as he returns to Morgan Stanley
6 years ago
Morgan Stanley has added to its CLO structuring team in New York, bringing an official who has been working on synthetic CDOs
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