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European structured finance market constructive on rates pause — market snapshot
5 months ago
European ABS and CLOs had a constructive week in the secondary market, reflecting better sentiment in broader credit -
Question your assumptions
9 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. -
Fund performance: European CLO funds lead the way
1 year ago
February was a positive month for many funds, as only one quarter failed to reach the black. This builds off a stellar start to the year: 96% of funds reached a positive return in January -
Manager targets €300 million for structured credit fund with CLO/CSO mix
1 year ago
The fund will invest primarily in European CLO equity -
Medalist and Semper form partnership to jointly invest in structured credit
1 year ago
Medalist Partners and Semper Capital Management have joined forces in a partnership which results in the pair co-investing in structured credit. -
Deutsche hires credit strategy head from rival bank
1 year ago
Deutsche Bank has hired a new head to oversee European and US credit strategy -
ArrowMark fills vacancy in London with SRT hire from sell side
1 year ago
ArrowMark Partners has filled a void in its London office after hiring an SRT specialist from Citi -
Widening asset/liability gulf will hurt CLOs: Barclays
1 year 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 -
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 -
Manager selection stakes are heightening as CLO pain points intensify: Barclays
1 year 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 -
Oaktree prints new US CLO while Deerpath resets mid-market deal
1 year ago
The US CLO market has added to its June transaction tally, with Oaktree Capital pricing a new issue while Deerpath Capital Management reset a 2018 vintage mid-market deal -
Bespoke bond baskets on the rise as investors seek targeted portfolio trades
1 year ago
High yield index replication and accessing illiquid exposure are two factors building momentum for a new investment approach that bundles bonds into a single risk piece -
Winton hires quant credit specialist as PM
2 years ago
Winton, a London-headquartered asset management firm that specialises in quantitative strategies, has hired an experienced trader to focus on credit alpha capture -
Chorus reaches crescendo with big SRT hire
2 years ago
Chorus Capital says it has hired an experienced significant risk transfer official to its investment team and executive committee in London -
"Faltering oil supply is lamentable at a time of strategic and moral shortfall"
2 years ago
We need to accept the pain and cut dependence on Russian oil today -
LP round up: Oak Hill wins $3bn mandate as credit allocations near $10bn in March
2 years ago
Institutional investors revealed over $9.5 billion of allocations to credit funds in March. Oak Hill Advisors walked away with the largest mandate, as US heavyweight pension Calpers allocated a whopping $3 billion across several of its funds -
BlueBay adds CLO specialist and structured credit PM
2 years ago
BlueBay Asset Management has made two senior hires to its structured credit team in New York -
Goldman hires veteran CLO structurer to boost US business
2 years ago
Goldman Sachs has hired a well known CLO structurer to its operations in New York -
Ex-Citi structured products co-head launches crypto investment firm
2 years ago
Citi's former structured products trading co-head has launched a venture investment firm for crypto companies, digital assets and blockchain protocols with an inaugural $1.5 billion multi-strategy venture -
CLO issuance set for big slump as managers relax on Sofr: JP Morgan
2 years ago
CLO new issue supply will likely decline sharply from this month to next, with the rush to complete deals ahead of the transition to Sofr base rates having added to November's historical heavy weighting over December, say JP Morgan structured credit strategists -
Fidelity rocks personal records with tightly priced US CLO
2 years ago
Fidelity has signed its biggest ever new US CLO and priced triple As at the tighter end of the marke -
Axa IM launches multi-strat fund for pensions
2 years ago
Axa Investment Managers’ ‘alternatives’ business has launched an open-ended strategy for pension funds -
Vibrant follows CLO investments hire with new addition in business development
2 years ago
Vibrant Capital Partners has hired Zachary Radler as a director in its business development team for North America -
BTIG launches structured credit business with four hires
2 years ago
BTIG has launched a new structured products business with three hires from Brownstone and one from Waypoint -
Hildene hires business development head from One William Street
2 years ago
Hildene Capital Management has hired a new head of business development
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