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Carlyle resets 2019 vintage CBAM CLO with big equity injection
4 months ago
Carlyle Group has reset CBAM 2019-9, a BSL CLO first priced by CBAM Partners in 2019, in a deal that saw an additional equity injection -
CLO M&A hits new heights with anticipated Assured deal
Last year saw a record M&A volume centred on credit asset managers, with a study by Gapstow revealing the total assets under management of acquired firms was $326 billion, compared to $140 billion in 2021. -
Eldridge's Boehly to build out new CLO firm, reports Bloomberg
1 year ago
Eldridge founder Todd Boehly is in the process of building out another CLO firm, according to a report by Bloomberg on Tuesday, -
Quarterly rankings: Carlyle climbs to top of pack with CBAM boost
2 years ago
Carlyle Group has cemented itself as the largest manager globally, following its acquisition of fellow CLO manager CBAM -
CSAM does the CLO awards double
2 years ago
Winning the Creditflux Manager of the Year award is a feat in itself. Winning it back-to-back in such different markets is an outstanding achievement — and CSAM can take great pride in it -
Redding Ridge wins four as CSAM retains CLO manager of the year crown
2 years ago
Credit Suisse Asset Management cemented its position as the most successful CLO manager at the Creditflux awards on Tuesday night in London's Landmark Hotel. The biggest CLO awards ceremony ever hosted by Creditflux was hosted by Krishnan Guru-Murthy in front of an audience of 360 people. -
We’re drifting apart
2 years ago
Everyone’s issuing US CLOs these days and it is tempting to believe the crowd of managers is blending into one. However, overall portfolio overlap has dropped to 37.7% across 2021 CLOs -
Two more seasoned CLOs poised to switch to Sofr based on issuance trigger
2 years ago
CBAM 2018-6 has joined Greywolf III-R and IV-R as another pre-2022 US CLO to switch its benchmark rate from three-month Libor to three-month Sofr after the market hit the same issuance trigger -
Carlyle closes CBAM transaction to become largest CLO manager in the world
2 years ago
Carlyle Group has closed a deal to buy the assets of CBAM and has become the largest CLO manager in the world -
Arb work pays off
2 years ago
With day-one arbitrage alone delivering projected CLO cash-on-cash returns of 20-25%, 2021 may have been the best year ever for equity investors — at least until CLO spreads began to widen -
CBAM CLO debt comes into play with reset incentive
2 years ago
Carlyle Group’s acquisition of CBAM for roughly $787 million ($615 million in cash) has underlined that we are in a seller’s market, sources say. But a key part of that deal will be the ability to extend CBAM CLOs through resets -
Quarterly rankings: Wave of acquisitions reshapes CLO market
2 years ago
A wave of acquisitions and consolidation hit the CLO market in the first quarter of 2022, although the ripples have yet to alter Creditflux’s manager rankings -
CBAM: star power, friends in insurance, and doing things 'my way'
2 years ago
"And now the end is here, and so I face that final curtain... I've lived a life that's full, I traveled each and every highway, And more, much more
I did it, I did it my way". Sinatra could easily have been thinking of CBAM when he penned these lyrics. We look back at how a group of experienced CLO officials came together to launch a mega player in the CLO business in no time at all -
Carlyle to become world's biggest CLO manager with deal to buy CBAM assets
2 years ago
Carlyle Group says it is buying CBAM Partners assets in a deal that is set to make the firm the largest CLO manager globally with about $48 billion of CLOs under management. -
Points up front: CLO valuation buzz - to infinity and beyond
2 years ago
Last month it emerged that Eldridge Industries was exploring the possibility of selling part of its majority stake in global CLO manager CBAM -
CBAM goes on block with parent Eldridge exploring 'strategic options': Bloomberg
2 years ago
Eldridge Industries is said to be considering selling a stake of its $15 billion credit unit CBAM Partners, according to a report by Bloomberg, citing people familiar with the matter -
CBAM prints first new US CLO in nine months with strong triple A execution
2 years ago
CBAM returned to the CLO primary market on Monday with its first US new issue since February -
Four CLO managers reset or reissue $2 billion worth of CLOs
2 years ago
CBAM, Marble Point Credit Management, Oak Hill Advisors and Sound Point Capital Management have each reset or reissued a CLO, with the four deals totalling over $2 billion -
US CLO pipeline: Go long! Refis fall from favour as AMMC looks to join list of 2021 issuers
2 years ago
The only record left to fall this year in US CLOs is 2017’s refinancing total of $102.8 billion with the market $6.3 billion shy. Yet this segment shows little interest to break more records with the pipeline filled with new issues and resets as longer tenured deals are preferred. -
US CLO pipeline: newcomers look to follow Beach Point's lead by pricing before year-end
2 years ago
Beach Point Capital Management became the latest debut issuer in the US CLO market on Friday, and Sycamore Tree Capital Partners and Putnam Investments are set to join it -
2020 CLOs find redemption is sweet
3 years ago
The believers have been vindicated with 2020 CLOs among the best-performing of all time by IRR. Even those that have been reset have been a success with par flushes making for huge equity distributions. -
CBAM promotes eight to investment committee on fifth anniversary
3 years ago
CBAM Partners has promoted eight people to its investment committee as it marks the five year anniversary of its founding -
US CLO league tables: CSAM and JP Morgan refi run leaves rivals behind
3 years ago
Credit Suisse Asset Management and JP Morgan have been leading the US CLO manager and arranger league tables, respectively, since the start of the year. And the two CLO giants are showing no signs of letting up -
Euro CLO managers price €1bn as triple As surpass 100bp and capped tranches gain popularity
3 years ago
CBAM, Hayfin Capital Management and GoldenTree Asset Management have all taken to the European CLO primary market, adding €1 billion to 2021 volume -
CBAM prices 2021's third-largest CLO transaction via MUFG
3 years ago
CBAM teamed up with MUFG on Wednesday to price a $1.21 billion reset of CBAM CLO 2017-3
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