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Credit funds at a glance (February 2022)
2 years ago
A round up of fundraising and people moves in credit -
Market ponders Sofr spread adjustment amid investor lag
2 years ago
The CLO market is waving goodbye to Libor as a benchmark rate and transitioning to alternatives for the first time in the history of the asset class. But there is no consensus as to what the Sofr spread adjustment should be, and some of the largest buyers are said to be slow to consider the impact of a benchmark transition -
Mid market CLO league tables: the only record left to break in 2021
2 years ago
New issuance is still shy of the $16 billion set in 2018, but stands not far off at $15.62 billion -
Citi carves up double Bs into three slices as it serves up new CLO
2 years ago
First Eagle Investment Management has split its double Bs three ways as part of a new issue CLO -
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. -
First Eagle prints fourth middle market CLO
2 years ago
First Eagle Investment Management has priced its fourth and largest middle market CLO, bringing its mid market deals under management to $1.5 billion -
US CLO pipeline: 1.0 manager returning, Carlyle going for CLO 10 as market goes to 100
2 years ago
Never in 1,000 years would the critics have expected this -
CLO resets flood in with $2 billion printing across five deals
2 years ago
Five US CLO resets priced between Friday and Monday for a total volume of over $2 billion, covering a wide array of managers and different CLO vintages -
Neuberger Berman, Sculptor and First Eagle tap CLO refi market
2 years ago
Three CLO managers refinanced 2019 CLO paper worth a total of $1.44 billion on Friday -
BNP Paribas refis one-year CLOs managed First Eagle and Octagon
2 years ago
BNP Paribas arranged CLO refinancings for First Eagle Investment Management and Octagon Credit Investors, with both deals having only around one year of reinvestment remaining -
First Eagle lands new CLO with triple As at 115bp
2 years ago
First Eagle Investment Management printed its third new CLO of the year on Thursday, placing the deal's triple A notes at 115 basis points over Libor -
First Eagle confirms appointment of former Prospect CLO investor
2 years ago
First Eagle Alternative Credit has confirmed the hire of experienced CLO investor Nishil Mehta as a managing director. -
First Eagle opts to liquidate listed US loan fund
2 years ago
First Eagle Alternative Credit is in the process of liquidating its publicly listed, closed-ended credit fund, First Eagle Senior Loan Fund -
First Eagle inserts single Bs in 2019 CLO with reset
2 years ago
First Eagle Investment Management teamed up with Natixis on Friday to reset Wind River CLO 2019-1, upsizing the deal by $9.5 million in the process -
Mid market CLO league tables: BlackRock takes new issuance lead with unusual deal via Morgan Stanley
2 years ago
BlackRock became the third mid market CLO manager to price two new issues this year and in doing so took the lead from Golub Capital in mid market CLO new issue league tables -
First Eagle swoops for Prospect CLO portfolio manager
2 years ago
First Eagle has hired a former Prospect Capital Management CLO portfolio manager for its alternative credit business in New York -
First Eagle and Neuberger Berman score sub-100bp triple A CLO refi spreads
2 years ago
First Eagle Investment Management and Neuberger Berman each priced CLO refis on Wednesday, with both managers placing their triple As at sub-100 basis point spreads -
First Eagle teams with BNP Paribas on US CLO
2 years ago
First Eagle Investment Management issued a new $409.7 million CLO on Friday named Wind River 2021-2 -
First Eagle's first mid market CLO from 2019 gets reset treatment
2 years ago
First Eagle Investment Management worked with Natixis on Monday to reset its inaugural middle market CLO from 2019 named Lake Shore MM CLO I -
CLO pipeline: new issue becomes name of game with 14 managers preparing to price
2 years ago
Only $3.2 billion of CLO paper priced globally across all forms of pricings this past week. But the market looks to set to explode back into life with 14 US CLO new issues in the pipeline -
First Eagle CLO notches up highest control equity trade on b-wic since at least 2017
2 years ago
The fourth control position in a US CLO was listed yesterday at 12pm EST (5pm UK time) as $33.43 million of Wind River 2017-4, a First Eagle managed CLO, was up for sale along with two other US CLO equity items -
$1.25 billion of CLO refis span range of tenors
2 years ago
The CLO primary market absorbed $1.25 billion of refinancings as American Money Management Corporation, First Eagle Investment Management, PGIM and Alcentra priced cost-cutting transactions, with different reinvestment periods across the pack -
Five refis add $1.43 billion to CLO market
2 years ago
The CLO primary market has absorbed another $1.43 billion of refinancing paper as five managers printed cost-cutting transactions -
Waiting for afters
3 years ago
Day one arb remains important, but last year there were opportunities aplenty in the secondary market, which put the onus on printing CLOs and waiting for the day after non-call periods expired -
First Eagle targets $1 billion for direct lending
3 years ago
First Eagle is targeting a $1 billion fundraise for First Eagle Direct Lending Fund V
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