Neuberger Berman steps into the unknown as it launches first CLO with full Sofr stack
Neuberger Berman is marketing its first CLO of 2022, which is thought to be the first new issue deal to launch referencing Sofr across the capital structure

US CLO league tables: Blackstone and Citi win new issues but CSAM and JP Morgan take overall issuance crown
The US CLO market had an extraordinary 2021 with almost $400 billion of overall issuance pricing as records were set for all forms of issuance

Euro CLO league tables: Upstarts Jefferies and Palmer Square fall just short of market leaders
ABC as easy as 1, 2, 3: Apollo leads new issuance as Barclays and CVC emerge as overall leaders, despite the efforts of newcomers Jefferies and Palmer Square. The European CLO market had a record year in 2021 as overall issuance fell just €3.2 billion short of €100 billion, more than double the previous record set in 2017 of €45.7 billion and a 325% increase on the coronavirus-impacted market in 2020

Mid market CLO league tables: Late flurry takes Wells Fargo top as Golub leads again with records tumbling
For the second year in a row, and for a fourth time in five years (when Creditflux’s CLO league tables began), Golub Capital and Wells Fargo finished atop the manager and arranger mid market CLO league tables, respectively

Global 2021 CLO league tables
Global 2021 CLO league tables

Hayfin dilutes structured credit unit as senior pair launch their own business
Hayfin Capital Management is pulling back from structured credit with the head of this business and a portfolio manager leaving to launch their own business

Re-issues show their worth after mid market deal morphs into BSL CLO
Re-issues are scarce in the CLO market, but a transaction late last year highlights how managers can use these effectively to make radical CLO transformations

BNP Paribas bolsters CLO sales team with hire from DB
BNP Paribas has hired a Frankfurt-based CLO and ABS sales director

Milbank promotes CLO lawyer to partner in New York
Milbank has promoted a CLO lawyer to partner in its New York office

Panagram aims to launch listed CLO fund with $249 million portfolio in place
Panagram Structured Asset Management is taking a big step in a bid to expand its investor base by launching an IPO for a listed CLO equity investment fund

Apollo promotes CLO specialist to managing director
Apollo Global Management has promoted a New York-based CLO specialist to managing director

RBC adds to US CLO team with hire from Morgan Stanley
RBC Capital Markets has started the year by adding to its US CLO team

Sculptor refinances post-reinvestment CLO via Amherst Pierpont
Sculptor Capital Management has refinanced three tranches of its post-reinvestment CLO named OZLM Funding VIII at $479.1 million

CIFC turns three-year CLO into five-year deal with reset
CIFC has turned its three-year reinvestment deal named CIFC Funding 2014-IV-R into a full five-year transaction with a reset via BNP Paribas

Blackstone 2021 CLO volume tops $8.5 billion with 16th new issue
Blackstone Credit returned to the CLO primary market yet again on Friday to print its 16th new issue of 2021

Guggenheim prints second new CLO in as many months
Guggenheim Investments has priced its second middle market CLO in as many months, teaming up with Wells Fargo as bookrunner and Capital One Securities as co-placement agent to print the $450.4 million Guggenheim MM CLO 2021-4

Carlyle prices record 25th CLO primary transaction of 2021
Carlyle Group's US CLO primary haul for 2021 grew to a record 25 transactions on Friday after the manager refinanced Carlyle US CLO 2019-3 via Citi

Aquarian prints first CLO primary deal since Gallatin acquisition
Aquarian Credit Partners has priced its first CLO primary market transaction since acquiring the platform of Gallatin Loan Management earlier this year

Dechert raids Milbank's CLO team in NY for three hires
The law firm's three hires follow its appointment of partner Jon Burke, who rejoined the CLO team in October

CSAM gets $100 million boost after upsizing print and sprint CLO post-pricing
JP Morgan upsized Credit Suisse Asset Management’s Madison Park Funding LIX CLO by $100 million on Friday, a day after the deal priced

CLO 2022 Outlook: 2021 is hard act to follow, but CLO buyers have positives aplenty
New CLO issuance in 2022 will remain elevated but below 2021’s record numbers, banks agree. But there is no consensus among strategy desks on the volume of repricings to come, partly due to the unknown impact of the Sofr transition.   

Octagon and Pimco tap CLO refi market
Octagon Credit Investors and Pacific Investment Management Company each turned to the CLO refi market on Thursday resulting in just short of $800 million pricing

CSAM runs in with opportunistic US CLO
Credit Suisse Asset Management has crossed the finish line with a $600 million print and sprint US CLO

"We again have to flag up information in CLO marketing pitches that can mislead investors"
Cash-on-cash returns, default records and leverage statistics don’t always give CLO investors the full picture  

CLO managers show respect to their elders
Alongside lucrative new issues, managers also make time for refinancing and resetting old deals. Our data shows that, in 2021, mid-sized firms were the most effective at this balancing act