We can cope with downgrades again

CLO fund appoints former ICG credit head Kershaw as chair
The board of directors of Axa's publicly listed CLO fund, Volta Finance, has appointed former ICG credit head Dagmar Kershaw as company chairman, following the retirement of Paul Meader. Former CLO structurer Yedau Ogoundele also joins as an independent board director 

CLOs at a glance (June 2022)
A listing of CLOs that have priced in the last month
 
   

Axa IM pairs with Citi on first new 2022 CLO
Axa Investment Managers on Friday priced its first new US CLO of the year

Muzinich adds UK and Ireland institutional sales head
Muzinich & Co has hired a head institutional sales for the UK and Ireland

Axa IM raises €1.2 billion for SRTs
Axa Investment Managers has closed Partner Capital Solutions VIII, a significant risk transfer (SRT) strategy, at roughly €1.2 billion, according to an announcement.

Axa IM launches multi-strat fund for pensions
Axa Investment Managers’ ‘alternatives’ business has launched an open-ended strategy for pension funds

Nine CLOs each — and every one of them is different
CLO giants Blackstone and Carlyle Group have printed nine new US CLOs apiece this year, but CLO market participants say managers are creating distinct portfolios

CSAM regains best manager throne
Upstart CLO managers overtook more experienced rivals at last year’s Creditflux Manager Awards, but CSAM and other large firms, such as PGIM, emerged victorious in London this time around

Axa IM and Canyon print their second new CLOs of 2021 tight of market averages
Axa Investment Managers and Canyon Partners each priced their second new issue CLOs of the year on Monday, with both scoring triple A spreads tight of the 10-day rolling average

Euro 2021 CLO volume exceeds €60 billion as BNPP and Axa IM pair for new issue
BNP Paribas arranged Axa IM's return to the primary CLO market after 21 months 

Axa IM extends palm oil policy to cover ecosystem protection and deforestation
Axa Investment Managers says it is expanding its 2014 policy of excluding investments in companies which do not have sustainable palm oil production certificates by factoring in deforestation and ecosystem protection

They said it: "The board announces the discovery of a website purporting to represent Volta"
They said it 

Axa IM prints first new CLO of 2021
Axa Investment Managers priced its first new CLO of 2021 on Tuesday, teaming up with Natixis to issue the deal

Global CLO trading lab: Octagon CLO comes out top in CLO double B spike
Double B-rated bonds made up 40% of the European and US CLO secondary markets last week. $222 million of US CLO double B bonds were on sale and a further €105 million of European CLO double B items were listed

CLO pipeline: Five out, five in as market digests new issuance wave
Five new issue US CLOs priced from last week’s pipeline, but five more have replaced them in this week's edition of our pipeline report

Control position in strong 2018 Axa CLO on sale today
$29.2 million of Allegro VII, a 2018 CLO managed by Axa Investment Managers, is on sale today in an all US CLO equity b-wic at 10am EST (3pm UK time). The bond is the fifth US CLO majority equity position to be listed on a b-wic this year

Axa IM joins group of post-reinvestment CLO refinanciers
Axa Investment Managers has teamed up with Goldman Sachs to refinance a CLO four months out of reinvestment

Triple A loan tranches keep getting bigger as Axa IM resets European CLO
Axa Investment Managers has reset its 2015 vintage European CLO Adagio IV and has become the latest manager to feature a substantial loan tranche as part of the transaction

Axa IM combines single As in European CLO refi
Deutsche Bank arranged the € 274.7 million transaction, which cuts cost of debt by 31.8 basis points

Goldman refis 2013 and 2017 CLOs for Axa IM and Napier Park
Goldman Sachs flexed its CLO refinancing muscles on Tuesday, arranging very different cost-cutting deals for Axa Investment Managers and Napier Park Global

Axa IM leads as ESG grows in European CLO industry
European CLOs are increasingly launching with express ESG mandates embedded as issuers seek to get ahead of what appears to be an inevitable shift towards ethical investing

Axa IM returns to US new issue CLO market after one-year break
Axa Investment Managers has returned to the new issue CLO market in the US after pricing the $406.25 million Allegro CLO XII via BNP Paribas

CLO pipeline: 15 managers make a final push
15 US CLO managers are in the near term pipeline with just a few days before primary markets close for the holiday season. Among these, nine are aiming to price a new deal while the rest include a reissue, a reset and four refinancings.