Submissions open for Creditflux's 11th annual awards

Submissions are now open for Creditflux’s 11th annual awards through to the 15th February. The awards are open to CLO managers, direct lenders and fund managers who are keen to prove their worth through an entirely quantitative analysis process. The window for submissions will be open for two weeks, after which the finalists will be revealed in our April issue. The winners will be revealed at our awards evening, which will take place at the Landmark Hotel in London, directly following our CLO Symposium on 8 May. During the awards evening, we will also be using our research from 2018 to highlight CLO arrangers who have made the biggest impact on the market.

To submit, all CLO managers need to do is to make sure their trustee reports are listed on CLO-i, and fill in this short submission form indicating which of their deals are eligible for the various categories in order to ensure the maximum opportunity for success. All data will be taken directly from the trustee reports by our team of analysts ensuring transparency and accuracy.

As a sign of the market’s growth and vitality we are happy to announce we will also be looking at the best direct lending funds in Europe and the US, considering the deals' returns upon original investment, the funds' success in deploying capital, and the average debt to ebitda of companies in the portfolio. To submit please fill in the short submission form attached.

CLO investors with closed-end funds and credit hedge funds that invest in CLOs are also eligible. Closed-end CLO funds can be submitted here, and are considered funds that invest predominantly (more than 50%) in CLOs and where investors do not have a regular ability to redeem their investments at NAV or where the lock-up is one year or longer. Those that report monthly performance figures with regular liquidity only need to be entered into our credit hedge funds database by sending the attached submission form to robin.armitage@acuris.com.

All other queries and submission forms should be directed to sam.robinson@acuris.com

CLO Manager submission form

Direct Lending submission form

Closed-end CLO submission form

Hedge fund submission form

Methodology

The best US CLO and best European CLO categories will be judged on six different metrics, all taken from the trustee reports, outlined below;

  • Change in junior over collateralisation test’s bumper, the difference between the threshold and the result, from the deal’s first report to December 2018.
  • The deal’s weighted average price, taken from the loan holdings and marks provided in the December 2018 trustee report.
  • Weighted Average Spread as of December 2018.
  • Weighted Average Rating Factor as of December 2018.
  • An average of the deal’s annualised returns on its distributions to equity over the deal’s life time.
  • The standard deviation of these payments, excluding the deal’s first payment, to calculate the volatility of the deal’s payment history.

This year we are also focusing on middle market CLOs, where weighted average price will not be considered due to the nature of those deals' holdings. When looking at redeemed CLOs, we will purely be looking at the deals’ final IRR figure. For the manager awards we will be looking at the average rankings, using the metrics above, of all of a manager’s active deals. ‘Boutique’ managers are considered to be those with four or less active deals.

Categories

Best new US CLO

Best new European CLO

Best US CLO

Best European CLO

Best US boutique CLO manager

Best European boutique CLO manager

Best European CLO redeemed in 2018

Best 1.0 US CLO redeemed in 2018

Best 2.0 US CLO redeemed in 2018

Best new middle market CLO

Best middle market CLO

Best European direct lending fund

Best US direct lending fund

Best closed-end CLO fund

Best CLO fund

Best US CLO manager

Best European CLO manager

Creditflux manager of the year

For any questions please contact Sam Robinson on sam.robinson@acuris.com or (0)20 3741 1377

<<END>>

TAGS: Direct lending Europe Structured credit CLO Performance North America Creditflux event