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LP round-up: investors gift private debt and leveraged loan RFPs over holiday season
3 years ago
2020 ended on a strong note with four institutional investors increasing asset allocation to private debt or initiating private debt and leveraged loan searches. ArrowMark, Banner Ridge, BBAM, HIG Whitehorse, Monroe and Rialto were also awarded mandates -
LP round up: pensions plan private credit pacing as strategic credit takes on "midfield" role
3 years ago
US pensions have allocated $1.4 billion across 22 credit funds including those managed by Angelo Gordon, Ares and GoldenTree, according to recent board documents seen by Creditflux. Meanwhile a pension fund draws parallels between strategic credit and Jordan Henderson -
Global CLO b-wic round-up: junior tranches trade above par as US volumes reach $45bn
3 years ago
A busy week of over $1.4 billion of US CLO secondary bonds and €290 million of European CLO paper gave light to CLO spreads across the capital structure continuing their push towards pre-covid levels -
LP round up: Arcmont, Ares and Sixth Street win European direct lending mandates
3 years ago
Investors have allocated around $2 billion to credit funds in recent weeks, according to board documentation seen by Creditflux. Among those to recieve allocations include ADM, Arcmont, Ares, Audax, Bain, Centerbridge, Clearlake, Goldman Sachs merchant banking, Invesco, Monarch, Oaktree, Raven, Sixth Street and Sound Mark -
CLO pipeline: LCM switches arranger to complete deal and join issuance surge
3 years ago
Over $3.5 billion of global CLO issuance priced last week and managers in all three CLO markets are taking advantage of tightening spreads across the capital structure after three major covid-19 vaccine breakthroughs and increased confidence since the US presidential election -
Global CLO b-wic round-up: Junior tranches rally amid heavy supply, including portfolio liquidation
3 years ago
The US CLO secondary market rally is showing no signs of slowing down after a week of over $1 billion worth of bonds was listed and well absorbed, according to market sources. The European market also had a roust week with over €300 million of paper up for grabs, although the market stayed generally flat with some tightening in double and single Bs -
LP round up: Monroe and Angelo Gordon beat 25 for direct lending mandate, as private credit plans brew
3 years ago
US public pension funds have disclosed $1.2 billion in commitments to credit focused strategies -
Global CLO b-wic round-up: Secondary markets rally despite ‘worst liquidity seen all year’
3 years ago
An adjournment in the US for Veterans Day last week still left plenty of time for the CLO secondary market to rally, thanks to Pfizer's covid-19 vaccine breakthrough and a firmer indication of the US presidential election results -
Beneath the triple C: cinemas get clipped but default picture improves
3 years ago
14 corporate debt issuers were downgraded to triple C or below in October by Moody’s or Standard & Poor’s – hurting $3.15 billion of US CLO loans, €761.73 million of European CLO portfolios and $37.95 million of middle market CLOs loans, according to CLO-i. Cinema chains were among those to suffer last month -
LP round up: $2.8 billion flows to credit as Apollo concedes fundraising may slow
3 years ago
Florida Retirement System Trust Fund made the largest commitments allocating $1.6 billion. Apollo meanwhile acknowledged a potential slowdown in fundraising as investors await results on an independent review into CEO Leon Black's relationship with Jeffrey Epstein -
US CLO round-up: 23 managers wait in the wings after avoiding pre-election rush
3 years ago
CLO managers rushed to the primary market last week as they sought to lock in financing before the US presidential elections. This resulted in one of the busiest weeks in the primary market with 10 new issues -
Global b-wic round-up: Europe drifts wider
3 years ago
The CLO secondary market had a robust week with $860 million of US CLO paper and €315 million worth of European CLO bonds listed. But spreads widened off the back of concerns over lockdowns across the globe, the increased risk of downgrades and tomorrow’s US presidential election -
LP round up: EIF backs four debt funds while Carlyle wins $1 billion
3 years ago
Institutional investors have allocated just over $4 billion to 27 credit managers in October board meetings -
Euro CLO round-up: fluctuating spreads give mixed signals
3 years ago
Last week was one of the European CLO market’s busiest since the coronavirus crisis began, as four managers brought new deals to market – adding €1.35 billion -
US CLO round-up: New Mountain gives a peek at better times
3 years ago
CLO primary issuance has produced healthy volume over the last few weeks with new issue paper totalling $7.9 billion since 21 September. -
Global CLO b-wic round-up: CLO mezz tranches widen amid macro concerns
3 years ago
Last week was busy for the primary European CLO market but not for secondary, with €1.35 billion of new issue European CLOs priced across four transactions but just €190 million of European CLO paper listed in b-wics -
LP round up: $5 billion flows to credit as private market allocations increase
3 years ago
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux -
Global CLO b-wic round-up: CLO lower mezz tightens while equity investors strive for duration
3 years ago
A large supply of CLO paper flooded the secondary market last week as $1.5 billion of US CLO bonds and €370 million of European CLOs were listed, according to CLO-i -
LP round up: private credit drive gains momentum as Calpers backs Pimco
3 years ago
Private credit continues to be viewed as an attractive investment strategy for institutional investors, with four global allocators outlining new buckets, or increases to the asset class -
Global CLO b-wic round-up: dealers get involved amid rally, but dispersion persists
3 years ago
The CLO secondary markets returned to form last week with $716.2 million of US CLO bonds and a further €306.5 million of European CLO paper listed. Although for both markets over half of the total volume listed came from Thursday’s scheduled b-wics -
LP round up: Connecticut eyes Fortress for private credit partnership
3 years ago
Investors placed $3.3 billion across 26 credit mandates over the past fortnight, according to documents seen by Creditflux -
Global CLO b-wic round-up: US CLO triple As finally rally while European investors go ‘all in’
3 years ago
A huge supply of $731 million of US CLO triple A bonds pushed US CLO secondary volumes to just shy of $1.5 billion last week -
Global CLO b-wic round-up: Palmer Square sets highest cover as double B curve inverts
3 years ago
Palmer Square and MJX set the CLO secondary market trading range, but pickings in Europe were the slimmest they have been in almost five months -
CLO pipeline: AGL aims high as it prepares fifth new issue of 2020
3 years ago
US CLO managers are sensing opportunities in the CLO market either via new issue CLOs or by refinancing the fixed-rate tranches in their legacy deals -
Global CLO league tables - July 2020 YTD
3 years ago
Global CLO league tables - July 2020 YTD
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