CLO pipeline: new issue becomes name of game with 14 managers preparing to price
Only $3.2 billion of CLO paper priced globally across all forms of pricings this past week. But the market looks to set to explode back into life with 14 US CLO new issues in the pipeline

Audax closes fifth junior debt fund at $1.9 billion
Audax Mezzanine Fund V will provide junior capital investments in private equity-backed middle market companies

New issue CLO dry spell ends as Ares produces tight US deal
Ares Management has broken a six-day new issue CLO drought, teaming up with Goldman Sachs on its second deal of 2021 named Ares LX

Bain and CIFC score sub-100bp CLO prints with one-year reinvestment deals
Bain Capital Credit and CIFC Asset Management returned to the primary market on Thursday to refinance 2017 CLOs, each scoring triple A prints tight of 100 basis points

Shenkman closes debut drawdown fund at $325 million
Shenkman Capital Management has closed its inaugural drawdown fund with over $325 million capital commitments

Mid market CLO league tables: Antares and Wells Fargo press reset to lead market
Following March's $5.87 billion, the busiest month of mid market CLO issuance since at least 2016, April felt like a quiet month for mid market CLOs with $2.26 billion pricing across three new issues, two resets and one partial refinancing

US CLO league tables: CSAM and JP Morgan lead the way as refis take over
For the third straight month US CLO issuance topped $35 billion, with $22.9 billion of the $35.9 billion in April coming from repricings

Global CLO league tables - April 2021 YTD
Global CLO league tables - April 2021 YTD

LP round up: $3.2 billion flows to 21 managers as private credit illiquidity premium holds firm
Investors allocated at least $3.2 billion to credit managers in April - and direct lending funds were in favour with Churchill and Ares being awarded two mandates

Structurers tempted by buy-side perks amid CLO bonanza
Do you have experience structuring CLOs? If the answer is yes, then your skills are in demand, with asset managers keen to add CLO capital markets specialists amid the onslaught of CLO transactions that have taken place this year

CLO fund comes top by distance in middling month for credit
A CIS Asset Management fund, which invests mainly in US CLO equity, was the star performer in March after gaining 7.36% in the month

Past returns: Hedging is back
Ten years ago in Creditflux we reported that loan managers had begun hedging after loan prices stabilised back to par following the global financial crisis. These loan managers were worried about future loan slumps and began using credit options and ETFs

They said it: "The CLO business continues to move forward... it is still going strong"
A spokesperson for Deutsche Bank says it is committed to US CLO new issues

CLOs come up smelling of roses
The coronavirus crisis could have cut back 10 years of CLO market progress, but investors’ foresight, trading chops and flexibility meant many saw their strategies blossom during 2020  

"The lack of standardised ESG data creates opportunities for data-driven investors"
Investors can gain an edge by using technology to help parse ESG data

"Why can’t loans and CLOs simply move to three-month treasury bills as our reference rate?"
Sofr may be touted as Libor’s natural replacement, but the best known rate in the world is also an option

WhiteStar finally makes it to Europe
US CLO manager WhiteStar Asset Management opened an office in London last month in what officials describe as the culmination of a plan that has been many years in the making

ESG factors show up in leveraged loan pricing in US
Environmental, social, and corporate governance factors are filtering through to the US CLO market and influencing loan prices

Fund performance: Lightning strikes twice as range of credit funds deliver
What seemed like a chance occurrence in February has struck again in March, as seven categories make our top 10 best performing hedge funds

Credit hedge funds (May 2021)
Credit hedge fund returns

Ucits at a glance: Altana moves into pole position
March marked a drop in pace for Ucits funds as only 62% of funds made positive returns, compared to 80% in February

CLOs are here to help with infrastructure expansion
Issuers of CLOs backed by infrastructure debt are looking forward to a boom as investors turn to infrastructure projects as a way out of the pandemic slump

Credit funds at a glance (May 2021)
A round up of fundraising and people moves in credit 

CLOs at a glance (May 2021)
A listing of CLOs that have priced in the last month

Supply/demand technical forces CLO spreads to shoot wide
CLO spreads defied positive economic conditions and blew out in March and April. The widening came despite ample liquidity and investors looking to rotate into floating rate assets