SME CLO manager Be-Spoke rebrands to Aptimus
Be-Spoke Capital, manager of Europe’s first 2.0 SME CLO, has rebranded to Aptimus Capital Partners

Past returns: Alhambra CLO paves the way
Five years ago in Creditflux, we reported that Be-Spoke Capital was launching the first SME European CLO since the financial crisis.

SME CLO supremo leaves Be-Spoke for expanding Spanish firm
One of the pioneers behind SME CLOs has left Be-Spoke Capital to join another Spanish lender. He leaves behind the only SME CLO in Europe since the 2008 financial crisis  

Points up front: How much do I owe you?
Payment systems in the credit industry had a bad August

Points up front: Despite the fees, European SME CLOs are the future
Producing the first post-crisis securitisation of small and mid-sized European loans was a monumental effort for Be-Spoke Capital.

SME CLO features PDL mechanism
Details of the groundbreaking Alhambra SME Funding 2019-1 — the first 2.0 CLO backed by loans to small and midsized enterprises — were revealed at the Direct Lending Forum jointly hosted by Creditflux and Debtwire last month.

We’ve got time to work this out
You might think direct lenders are very exposed to economic downturns. But at the Creditflux-Debtwire event last month, managers said they felt they had a few months to rectify problems

European mid market CLO suffers blip as borrower misses interest payment
Alhambra SME Funding 2019-1 – the first middle market European CLO since the financial crisis – has suffered a setback with one of its portfolio companies missing an interest payment last month

Global mid market CLO league tables: Golub and Natixis lead by a distance
Golub Capital and Natixis dominated the mid market CLO space in 2019 in the manager and arranger league tables, respectively

Euro CLO league tables: GSO turbos charges its lead over CVC
GSO Capital Partners kept hold of the lead in the European CLO manager league tables thanks to its turbo charged reset of Holland Park

US buyers take punt on Europe's first 2.0 SME CLO
Investors in Be-Spoke Capital’s Alhambra SME Funding 2019-1 are mostly European asset managers, but some banks and US-based institutions also invested in the precedent setting transaction 

EIB confirms investment in European mid market CLO
The European Investment Bank has confirmed it invested €61 million in Alhambra SME Funding 2019-1 – the first European 2.0 CLO backed by middle market loans

European CLO round-up: new look turbos power up junior CLO tranches
Junior CLO debt investors are getting more defensive and this has resulted in the emergence of new-look CLO turbo tranches

SME CLOs arrive in Europe as Be-Spoke prices Spanish loan securitisation
Middle market CLOs have arrived in Europe after Be-Spoke Capital priced the continent’s first post-crisis SME loan securitisation

Be-Spoke one week away from pricing breakthrough SME CLO
Be-spoke Capital has moved a step closer to pricing its SME loan securitisation, with price talk emerging for the forthcoming Alhambra SME Funding 2019-1

Direct lender hires head of credit as it closes in on European mid market CLO
BeSpoke Capital has made a big hire as part of a reorganisation of the direct lender’s business

First European SME CLO 2.0 edges closer after warehouse tweaks
Be-Spoke Capital’s European SME CLO is nearing the finishing line, with sources indicating NatWest Markets aims to price the deal, Alhambra SME Funding 2018-1, in early December. The development comes after the CLO exceeded the warehouse’s 12-month ramp-up period

Updated, upgraded and ready to launch
Whether it’s a software update or a full-blown upgrade to a newer model, CLO technology is advancing fast, with Be-Spoke and Ellington the latest to launch new types of securitisations

CLO pioneer implements strategy for direct lending securitisation
European CLOs backed exclusively by middle-market credits are making a return after a decade in the wilderness

Direct lender opens warehouse ahead of unique European CLO launch
The union of direct lending and CLOs has moved a step closer in Europe, with a fund manager paving the way for the first direct lending securitisation of its kind