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6 results found Showing page 1 of 1

  • Rope-a-dope brings knock-out returns
    Post-pandemic US and European CLOs delivered mid-teen equity returns in 2022, despite a barrage of weak macroeconomic news and what could have been a heavyweight Libor mismatch  

    1 year ago
  • I’ll see your 2020 and raise you 2021
    Discounted loans, Libor floors and bond flexibility helped make 2021 an even better year for CLO returns than 2020, as US CLOs distributed 15.54% and European CLOs paid 13.93% annualised

    2 years ago
  • CLOs wheel and deal as overlap increases
    2020 CLOs are a different breed to any other vintage. But this cohort features an overlap of almost 40% as CLO issuers have been forced to focus almost entirely on secondary market loans

    2 years ago
  • At least 2020 wasn’t dreadful for CLOs
    Last year’s downturn was another in which CLOs survived and in many cases thrived as active management and Libor floors helped managers deliver 13%-plus returns to equity

    3 years ago
  • Elements work against CLO managers in Q3
    CLO equity distributions fell in Q3 largely due to factors, such as Libor mismatches, that CLO managers can’t control. But these headwinds could turn in favour of managers in the near future

    3 years ago
  • Managers weigh up matters of principal
    CLO managers that were able to avoid OC traps made double-digit equity distributions in Q2, despite the headwinds. But these firms tended not to be among those that built the most par

    3 years ago

6 results found Showing page 1 of 1

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