Creditflux Returns
Creditflux Returns

Together, they’ve gone far
The stable Wells Fargo team that came together at Wachovia is now backed by one of the big four US banks. It's a combination that dominates in US mid-market CLOs

January Fund Returns
January Fund Returns

Giant takes sharp turn towards CLOs
It is one of the biggest banks, but BNP Paribas moved nimbly after the crisis to build on its position as a leader in credit derivatives by adding a CLO arranging business

Gone but not forgotten
ACA Capital’s spectacular collapse heralded the demise of the monoline business and scattered its employees into jobs right across the credit space

The growing Swiss network
Defunct investment banks such as Lehman Brothers are not the only ones with a healthy diaspora of credit traders. UBS has a wide network of ex-colleagues.

Adding an Asian presence
Taking the plaudits as the first euro CLO 2.0 arranger and turning heads by distributing CLOs to Asia, Credit Suisse has set itself up as a global CLO player.

European CLO arrangers: back in business
With at least 15 deals likely to price this year, European CLOs are well and truly back. But who will arrange them? Sayed Kadiri finds the key people on European arrangers’ desks

Her Majesty’s secret CLO desk
They don’t know it, but through their ownership of nationalised RBS, UK taxpayers may hold the world’s biggest portfolio of CLO paper. Sayed Kadiri analyses RBS’s Stamford-based CLO business

Oh Brothers, where art thou?
Lehman Brothers’ collapse scattered one of the best regarded structured credit teams in the business around the investment banks and hedge funds of the world

Reaching for yield distorts markets
It is well understood that many investment losses are caused by investors chasing yield. But the problem is more widespread than most realise

High yield bond covenants: losing the shackles
“Lousy and getting worse,” is the assessment by investment managers and analysts of covenant quality in the super-heated US high yield bond market

Credit ETFs: a quiet explosion
Credit ETFs have grown to become a $100 billion business. From this month we track the size and performance of the biggest funds

Viewpoint - Consolidation: part II
Stone Tower’s James Galowski believes CDO manager consolidation has only just begun