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Starting Clover: Blackstone completes AIG CLO acquisition with rebrand
9 months ago
Covenant CLO Advisors, the investment manager of AIG’s CLOs, has rebranded to Clover CLO Advisors and is now a Blackstone affiliate -
Blackstone buys $3.6 billion US CLO manager
10 months ago
An affiliate of Blackstone has entered into a purchase and sale agreement to buy a CLO management business -
What matters is what you do with it
1 year ago
CLO managers yearn for flexibility so they can take advantage when credit sells off. But it isn’t enough on its own: triple C-flex CLOs saw portfolios erode this year, while CBOs outperformed -
Neuberger Berman hires structured credit portfolio manager from AIG
1 year ago
Neuberger Berman has hired a managing director and portfolo manager in its private placement team focusing on ABS and structured transactions -
Beneath the triple C: US CLOs take a dip in the triple C as Europe watches from the sun lounger
1 year ago
The US CLO market bore the brunt of downgrades to triple C in July and August, with a total of $6.22 billion of paper affected. European CLOs enjoyed a more relaxing summer holiday, with only 1 name representing €33.88 million worth of bonds downgraded to triple C. -
AIG, BlackRock, First Eagle and GoldenTree bring weekly CLO reset volume to $5.9 billion
1 year ago
Four managers capped off a huge week for US CLO reset activity by reworking 2019 deals, bringing weekly reset volume to $5.85 billion across 12 transactions -
AIG scores new personal record after issuing its third CLO in the space of a year
1 year ago
AIG Asset Management priced its third CLO of 2021 on Wednesday, marking the first time it has issued three CLOs in the space of a year following its return to the asset class in 2018 -
AIG, Five Arrows and Whitebox join CLO reset gravy train
2 years ago
AIG Asset Management, Five Arrows Managers and Whitebox Capital Management have all reset CLOs, with the three deals amounting to $1.16 billion -
Capital Four prepares for US CLO debut with four more hires
2 years ago
Capital Four says it has hired four team members to its New York-based US credit team as it expands its capabilities across the Atlantic -
Past returns: Prophet’s early CLO redemption
2 years ago
In Creditflux five years ago, we reported that Prophet Capital, the control equity investor in Covenant Credit Partners CLO I, had driven liquidation of the deal -
2020 CLOs find redemption is sweet
2 years ago
The believers have been vindicated with 2020 CLOs among the best-performing of all time by IRR. Even those that have been reset have been a success with par flushes making for huge equity distributions. -
AIG completes second new CLO of 2021
2 years ago
AIG Asset Managment priced its second new CLO of the year on Tuesday, teaming with Bank of America on AIG CLO 2021-2 -
CLO pipeline: four US and two European managers prepare first 2021 CLOs
2 years ago
The CLO market is set to carry on roaring with the pipeline as full as ever despite the summer slowdown just around the corner -
CLO investors don Euribor caps to hedge rising rates
2 years ago
Euribor-capped tranches have made a comeback in European CLOs, with AIG and PGIM understood to be behind them. Sources say PGIM has been investing in triple A-rated tranches, while AIG has taken on double-A rated tranches -
AIG joins ranks of post-covid CLO resetters
2 years ago
AIG Asset Management became the 12th manager to reset a post-covid CLO on Tuesday, teaming up with Natixis to rework AIG CLO 2020-1 -
CLO pipeline: queue gets longer as Blackstone goes again and Sancus makes first move
2 years ago
The queue to price for US CLO managers is only getting larger with 18 new issue CLOs in the pipeline, according to market sources, along with 18 repricings and two new issue European CLOs and two mid market CLO resets -
AIG prints rare three-year reset of comeback CLO
2 years ago
AIG teamed up with Credit Suisse on Friday to print a rare three-year CLO reset of its comeback transaction from 2018 -
AIG offers single B notes in largest CLO to date
2 years ago
AIG Asset Management issued its largets CLO to date on Thursday. Named AIG CLO 2021-1, the transaction came in at a par value of $515.3 million -
CLO pipeline: deal flow slows ahead of US election
3 years ago
Only two forthcoming new issue US CLOs have been added to the pipeline this week as the election slowdown hits credit markets. This comes after eight new issue US CLOs and five European CLOs have priced over the last ten days during the pre-election rush -
Natixis becomes first US CLO arranger to pass $1 billion issuance since coronavirus outbreak
3 years ago
Natixis on Friday became the first arranger of US CLOs to pass $1 billion issuance since the coronavirus outbreak and market sell-off, following a $332.75 million new issue managed by AIG -
US insurer Aflac purchases minority stake in direct lender Varagon
3 years ago
Varagon Capital Partners has sold a non-controlling, minority stake of the firm to Aflac Global Investments, the asset management division of US insurance company Aflac Incorporated -
AIG passes $2 billion CLO volumes after adding another US new issue
4 years ago
AIG Asset Management surpassed $2 billion in CLO volumes for the first time post-crisis after pricing a new issue named AIG CLO 2019-2 on Friday -
US CLO round-up: Anchorage keeps primary open as debutants and newcomers fill pipeline
4 years ago
Anchorage Capital shored up the CLO market this week against an untroubled horizon as the sole manager to price a new issue, while TCI Capital Management priced the first refinancing of the year as Creditflux went to press. -
AIG CLO comeback gathers pace as it plans second pricing in two months
4 years ago
AIG Asset Management is working with Wells Fargo to price a $507.2 million new issue CLO named AIG CLO 2019-1 -
Three US managers capitalise on loan volatility to price new CLOs
4 years ago
It’s late in the year, but loan market volatility seems to be presenting CLO managers with ideal circumstances in which to ramp up portfolios and price deals
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