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CLO managers show respect to their elders
2 years ago
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 -
Coronavirus tiers up old ranking script
2 years ago
Forget everything you thought you knew about CLO manager tiers. Apollo and Blackstone are mainstays, but smaller, more nimble issuers are finding new ways to stand out from the crowd -
Loan slump brings managers closer
3 years ago
A 19% slide in new US loan volumes last year has left CLO managers with fewer options in the primary market, and portfolio overlap between US managers has increased to 35.3% on average -
We’ve survived before, we can do so again
$7.8 billion of CLO collateral, split evenly between the US and Europe, is in the loans that have fallen fastest in the past month. But short term CLO pain will bring opportunities for building par4 years ago -
In 2019, some CLO managers hoped that good timing would enable them to lock in favourable arbitrage levels, but others opted for aggressive or conservative tactics when building portfolios4 years ago
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It’s possible to be big — and still be picky
5 years ago
Our analysis of 2018 CLOs shows that firms such as Credit Suisse Asset Management and Sound Point Capital Management have built loan portfolios that are different to the rest of the market. -
Wide CLO pricing need not be a drag
5 years ago
Established managers can price CLO liabilities at attractive levels, but we find that CLOs saddled with higher financing costs have nevertheless been among the market’s outstanding performers -
Spread decline makes style vital
6 years ago
It’s not the number of CLOs you manage, it’s how you manage them: with 62 US firms pricing CLOs this year, managers are keen to stand out from the crowd
8 results found Showing page 1 of 1
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