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Representation really matters
1 year ago
At our London Women in CLOs event, Creditflux’s Tanvi Gupta and Michelle D’Souza spoke about how inspiring it can be to see someone who looks like you achieve success in your industry -
"When the US market gets legislation it does not like, people sue..."
1 year ago
The difference between Americans and Europeans in regards to CLOs -
Points up front: Who is going into the Creditflux interview room?
1 year ago
The Creditflux CLO Symposium brought together 620 market participants from across the globe, and they had one question on their lips: what’s going on in the Creditflux interview room? -
We’ll get through this awkward patch
1 year ago
Wide liabilities have made pricing CLOs trickier in the past few months. But speakers at Creditflux’s CLO Symposium were optimistic that the arbitrage is OK — so long as you can place those triple As -
"Wholesale moves into risk areas after internal changes should sound an alarm"
1 year ago
The composition of CLO managers is changing, so management styles may drift -
"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 -
Flexible approach is designed to deliver competitive performance
Nuveen’s Symphony CLOs benefit from teams who are active across a range of credit and bond funds -
"The loan market is the septic tank for sub-single B LBO financing"
2 years ago
Portfolios of single name IG CDS are less complex and more liquid than CLOs -
Points up front: Price is right on trend with new CLO ticker game
2 years ago
The best ideas often come about when you’re knee-deep in CLO tickers -
"Rules require 5% risk retention, but for first loss CRS that is not enough"
2 years ago
PGGM's Mascha Canio takes our credit quiz -
Past returns: Ares constructs private CLO
2 years ago
In Creditflux 10 years ago we reported on Ares Management putting together a quasi-CLO in a bilateral transaction involving senior debt investor Sumitomo Mitsui Banking Corporation -
"Credit investors should interpret 100,000 Russian troops on the Ukrainian border as worth pricing in"
2 years ago
Welshcake tells credit portfolio managers to under-promise and over-deliver in 2022 -
"We again have to flag up information in CLO marketing pitches that can mislead investors"
2 years ago
Cash-on-cash returns, default records and leverage statistics don’t always give CLO investors the full picture -
Past returns: KKR’s unusual CLO liquidation
2 years ago
Five years ago in Creditflux, we reported that junior debt investors in a KKR-managed European CLO voted to alter the deal’s documentation so they could drive a liquidation of the legacy deal, such that they would receive roughly 92% of par -
They said it: "The tone may have been too positive"
2 years ago
CLO market participants have been guilty of being overly bullish -
"In 2022, being slow will not be such a bad thing"
2 years ago
St David losing its place as the UK’s smallest city would be a travesty. Replacing Libor might be worse -
"No-one talks about the part oil price surges played in the 2008/9 global financial crisis"
2 years ago
Investors eyeing inflation shocks and supply chain disruption should instead be paying attention to the brewing energy crisis -
Past returns: Insurers weigh CLO barbell trade to fight Solvency II
2 years ago
Five years ago in Creditflux we reported that insurers in Europe were putting on a CLO barbell trade in reaction to Solvency II regulations which came into effect in January 2016 -
They said it: "Remove call option from CLO assets and liabilities"
2 years ago
A CLO investor, commenting in Creditflux’s CLO Census, comes up with a drastic way of making CLO cashflows a whole lot easier to model -
The Creditflux CLO Symposium was back as an in-person event for the first time in two years and participants were delighted to socialise and bask in an amazing year for the credit industry2 years ago
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Points up front: CLO award-winners love bowing out at the top
2 years ago
Reaching the summit of their profession gives CLO officials the compulsion to move on to pastures new, as evidenced by the Creditflux Manager Awards -
Points up front: Risk retention gets less than 5% of airtime
2 years ago
In a sign of how buoyant the CLO market is, risk retention was hardly mentioned at Creditflux’s CLO Symposium. Milbank partner John Goldfinch gave a self-deprecating assessment... -
"Purchasing IG CLO debt was a key driver of success for 1.0 CLOs"
2 years ago
Longer reinvestment periods, the ability to buy IG tranches and improved loan settlements would improve CLOs -
"I’m passionate about broader representation within investment teams"
2 years ago
CIP's Leila Donnachy takes our credit quiz -
"The CLO industry can be a little clubby… it feels like there are few advocates"
2 years ago
Pension Danmark's David Altenhofen taks our credit quiz
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