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A round-up of fundraising and people moves in credit4 years ago
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A round-up of fund performance4 years ago
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Fund performance
4 years ago
A round-up of fund performance -
Ucits at a glance
4 years ago
A round-up of ucits performance -
CLOs at a glance
4 years ago
A round-up of CLO performance -
Large, liquid loans aren’t always perfect
4 years ago
CLOs could be forgiven for rushing to buy Refinitiv loans — after all it was the biggest LBO since the crisis. But some large managers have abstained, while others have bought opportunistically -
A round-up of fundraising and people moves in credit
4 years ago -
CLOs at a glance
4 years ago
Managers focus on AUM building via new issues -
Fund performance
4 years ago
Long-short and high yield keep up the momentum -
Moving on from the late 2018 hangover
4 years ago
It might be too early to call a full recovery, but it’s fair to say that the US loan market is back on track with $48 billion of institutional issuance in 2019 — 88% of which is made up of new issues -
We can’t hide it any longer, we’re tiering up
5 years ago
With the opening months of 2019 highlighting a clear class system among CLO managers, there has never been a better time to assess tiering. We find that timing, patience and luck all play a role -
Managers swoop on largest DIP in years
5 years ago
San Francisco-based Pacific Gas & Electric has tapped $5.5 billion of debtor-in-possession financing. Restructuring is likely to be fraught, but ten CLO managers have bought the loans -
It’s going to be a credit picker’s market
5 years ago
Our panel of experts believe that the credit market will be volatile this year, but there will be opportunities in European credit and additional tier one bonds, trups CDOs and unitranches -
The financial crisis was the making of ’em
5 years ago
Some of the largest and best performing CLO managers before the crisis were fairly nimble by today’s standards — but these 1.0 outperformers are now among the biggest names in the industry -
Buy and hold isn’t only option for CLO equity
5 years ago
New US CLO equity is being more regularly flipped into b-wics. Figures suggest that equity pieces of 2017 and 2018 US deals made up 22% of the b-wic market over the past four quarters -
August: fund performance
5 years ago
CLO spreads jumped wider in August, but funds that invest in these assets have been able to outperform -
September: credit funds at a glance
5 years ago
White Oak Global Advisors held a $2.1 billion final close on a new direct lending fund, while Phil Raciti's move from CVC Credit Partners to Halcyon Capital Management was one of the biggest moves in the credit industry -
Wide CLO pricing need not be a drag
5 years ago
Established managers can price CLO liabilities at attractive levels, but we find that CLOs saddled with higher financing costs have nevertheless been among the market’s outstanding performers -
Weighted average life divides CLO industry
5 years ago
Creditflux’s second CLO Census reveals stark differences of opinion on weighted average life and par-flush for US CLOs. But there is a clear consensus on which bank is best at CLO execution -
Loan market finds balance as spreads edge wider
5 years ago
New issue volumes were robust in July with relatively few loan refinancings getting done. Loan portfolio managers say the loan market is finally balanced, having been in favour of borrowers -
Experienced CSAM holds off boutiques to win biggest prize
5 years ago
Credit Suisse Asset Management became a two-time winner of the Creditflux Manager of the Year award last month after picking up the 2018 trophy in front of a packed house at London’s Landmark Hotel on 9 May -
CLO performance is faltering – a loans shock would help
5 years ago
Early CLO 2.0s benefited from wide loan spreads. Today, that arbitrage opportunity has closed and returns have gradually diminished – yet there are now similarities to the market in 2007 -
CLOs aren’t as similar as you might think
5 years ago
Almost 70% of some managers’ portfolios overlap with those of their competitors. But the average overlap is around 35% so there’s plenty of room for managers to express their preferred strategies
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Tracking down the credit industry’s original winners
5 years ago
All winning managers at the first Creditflux awards survived the crisis, under their own names – like BlackRock – or under new owners. But what happened to the people who collected the trophies?
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Synthetic CDOs seek to follow CLOs
6 years ago
Growing issuance, interest in longer maturities and the emergence of a secondary market are encouraging dealers to believe that bespokes are on the road to acceptance. By Sayed Kadiri
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