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News in brief
2 months ago
Increasingly popular credit interval funds grow by $10bn in 2023 and New arrangers gather speed in US market -
European ABS and CLOs rally on Fed rates forecast
4 months ago
Trading activity in European ABS and CLOs was strong on Thursday after the Federal Reserve signalled it would cut rates in 2024 -
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 -
Structured finance secondary market quiets down as volatility intensifies
6 months ago
Secondary market activity in European structured finance was subdued this week, in the wake of further market volatility sparked by the Israel-Hamas war -
Hedge fund profit-taking prompts ABS sales as spreads soften in deteriorating macro conditions
6 months ago
More European ABS and CLO BWICs were on offer this week, as some hedge funds are selling their positions with a view to take early profits before the market widens further. -
Fund performance
7 months ago
Positive August for credit sees CLO funds on top again -
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 -
Panagram launches its second CLO ETF of the year
9 months ago
Panagram Structured Asset Management has launched its second CLO exchange traded fund of 2023, naming the fund Panagram AAA CLO ETF -
Blackstone hires sell-side CLO trading head
9 months ago
Blackstone Credit is beefing up its team with a new hire to the liquid credit strategies group. -
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. -
Secondary activity ramps up as post-Barcelona rally continues
10 months ago
BWIC activity across European ABS and CLOs increased this week as investors and asset managers look to take some risk off heading into the summer -
CLO funds make best of a bad situation
1 year ago
It can’t get any worse can it? Well, it did in 2022, when credit spreads kept moving wider. Still, CLO funds were able to withstand the pressure, and they outperformed other credit strategies -
Ares targets $5 billion for second credit 'Pathfinder' strategy
1 year ago
Ares says it is finding relative value in FinCo loans, rescue financing, asset portfolios and residential mortgages and is monitoring opportunities in CLO tranches -
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 -
AlbaCore promotes two employees to partner
1 year ago
AlbaCore Capital Group has promoted investor relations specialist Zeynep Tumer Bayazid and deputy chief operating officer Micaela Kelley to partner -
Nassau adds $3.6 billion credit firm Angel Island to its platform
1 year ago
Under the deal, Angel Island will become a subsidiary of Nassau’s asset management unit, Nassau Asset Management -
LA pension awards $675 million to illiquid credit managed account
1 year ago
The strategy will invest across asset-backed credit, loans, bonds, and specialty finance -
CDS volume jumps by 50% as investors seek new ways to do business
1 year ago
Credit derivatives traders are wrapping up a bumper year, in which there was a big increase in volume and a growing number of use cases for the product -
EIB backs German bank's SRT
1 year ago
Landesbank Baden-Württemberg has issued an SRT with support from the European Investment Bank. -
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. -
Cairn begins "new chapter" as it rebrands to Polus
1 year ago
Cairn Capital has been renamed Polus Capital Management, which brings it together with Bybrook Capital, the credit asset manager it acquired in 2021. -
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 -
Apollo reaches for bigger slice of pi(e) with 5% Diameter stake
1 year ago
Apollo Global Management has bought a 5% stake in credit fund and CLO manager Diameter Capital Partners, cementing the relationship between the firms -
Neuberger Berman hires structured credit portfolio manager from AIG
1 year ago
Neuberger Berman has hired a managing director and portfolo manager in its private placement team focusing on ABS and structured transactions -
Axa IM reorganises alternatives unit into five streams amid AUM growth
1 year ago
Axa Investment Managers has reorganised its ‘alternatives’ business into five streams and made four promotions
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