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ABS spreads hold up in spite of September issuance deluge, while CLOs soften
11 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
1 year 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
2 years 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 -
JP Morgan splits global head of institutional structuring role as it promotes three
2 years ago
JP Morgan has rejigged part of its credit structuring business with a set of promotions for officials who have covered SRTs, CLOs and CSOs as part of cross-asset roles -
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 -
Napier Park promotes two senior employees to partner
2 years ago
Napier Park Global Capital has named two members of its team as 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
3 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. -
Tranche trader leaves Apollo for sell side
3 years ago
BNP Paribas has filled a gap in its structured credit trading group with the hire of an index tranche market maker -
Fairwater eyes tranches and options as prospects ‘multiply’
3 years ago
Fairwater Capital is looking to capitalise on rising credit volatility by crafting a strategy that makes full use of the growing number of products in the credit derivatives industry -
Ex-JP Morgan portfolio manager joins boutique as head of structured credit
3 years ago
A portfolio manager who worked in JP Morgan's chief investment office (2008-2014) and with experience across macro credit trading, relative value, index tranches, options and CSOs has resurfaced on the buy side -
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 -
Ex-Highland official launches private credit placement agent firm for niche strategies
3 years ago
The former partner and chief executive officer at global placement agent FirstAvenue Americas, has launched his own placement agent named Briarcliffe Credit Partners -
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 -
BlueCrest settles SEC charges of favouring internal fund over client capital
3 years ago
BlueCrest Capital Management has agreed to pay $170 million to settle charges related to a fund that managed internal capital -
GSO to rebrand as Blackstone Credit
3 years ago
GSO Capital Partners, the credit management arm of the Blackstone Group, is set to rebrand itself as Blackstone Credit -
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
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