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Low warehouse balances show CLOs bracing for volatility
3 months ago
A record number of CLO warehouses are open but contain record low balances, according to several market sources. The figures indicate that CLO managers and equity investors are preparing for a sell-off in the loan market in the latter half of 2023. -
CLO market needs a deeper investor base, conference hears
6 months ago
CLOs are toughing through the fallout from this month's banking crisis, but speakers at Creditflux's CLO Investor Summit in New York on Wednesday bemoaned that the market's investor base is lacking depth -
Triple A notes come in tight as Elmwood and First Eagle print new CLOs
6 months ago
Elmwood Asset Management and First Eagle Investments each priced a new CLO on Monday, with both deals' triple A notes printing at or tight of the 10-day rolling average for five-year reinvestmenet paper -
First Eagle promotes four across syndicated loans and direct lending
7 months ago
First Eagle Alternative Credit has promoted four officials to senior-level roles across its direct lending and syndicated loans businesses -
CLO M&A hits new heights with anticipated Assured deal
Last year saw a record M&A volume centred on credit asset managers, with a study by Gapstow revealing the total assets under management of acquired firms was $326 billion, compared to $140 billion in 2021. -
Mid market CLO league tables: HIG returns to CLOs while Natixis gallops further ahead
11 months ago
Three managers priced a mid market CLO in October as volumes crossed $1 billion for the third straight month -
CLOs at a glance (November 2022)
11 months ago
A listing of CLOs that have priced in the last month -
First Eagle mid market CLO features unusual capital structure
11 months ago
First Eagle Investment Management has priced a new middle market CLO with a rare twist at the top -
First Eagle wraps up fundraising for $1 billion direct lending fund
1 year ago
The strategy will target 6-9% net internal rate of return for its unlevered sleeve and 8-11% net IRR of return for its levered sleeve -
US investors welcome flurry of CLO new issues
1 year ago
The UK may have been off from Thursday for the Jubilee holiday, but in the US the primary CLO pipeline proceeded apace with several new issues hitting the market before Friday’s close -
CSAM does the CLO awards double
1 year ago
Winning the Creditflux Manager of the Year award is a feat in itself. Winning it back-to-back in such different markets is an outstanding achievement — and CSAM can take great pride in it -
CLOs at a glance (June 2022)
1 year ago
A listing of CLOs that have priced in the last month
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First Eagle follows affiliate Napier Park by pricing US CLO
1 year ago
First Eagle Investment Management on Friday priced its first US CLO since November 2021, teaming up with Citi on the $403.39 million Wind River 2022-1 -
Redding Ridge wins four as CSAM retains CLO manager of the year crown
1 year ago
Credit Suisse Asset Management cemented its position as the most successful CLO manager at the Creditflux awards on Tuesday night in London's Landmark Hotel. The biggest CLO awards ceremony ever hosted by Creditflux was hosted by Krishnan Guru-Murthy in front of an audience of 360 people. -
We’re drifting apart
1 year ago
Everyone’s issuing US CLOs these days and it is tempting to believe the crowd of managers is blending into one. However, overall portfolio overlap has dropped to 37.7% across 2021 CLOs -
Arb work pays off
1 year ago
With day-one arbitrage alone delivering projected CLO cash-on-cash returns of 20-25%, 2021 may have been the best year ever for equity investors — at least until CLO spreads began to widen -
Quarterly rankings: Wave of acquisitions reshapes CLO market
1 year ago
A wave of acquisitions and consolidation hit the CLO market in the first quarter of 2022, although the ripples have yet to alter Creditflux’s manager rankings -
Mid market CLO league tables: $1.1 billion Golub deal shuffles the pack
1 year ago
Mid market CLO issuance slowed last month amid market volatility with just one new issue and two resets pricing in March, worth a combined $1.9 billion -
First Eagle to buy Napier Park
1 year ago
First Eagle Investments has struck a deal to acquire Napier Park Global Capital, according to an announcement, in a deal which will take the firm’s overall global CLO assets under management up to $29.7 billion. -
Three US CLOs join growing list of deals to default
1 year ago
Another three US CLOs have the ignominy of having their tranches downgraded to D, taking the total list of 2.0 CLOs to default to eight. Before August 2021, 2.0 CLOs had a clean record according to S&P ratings -
First Eagle brings first new mid-market CLO since start of Ukraine crisis
1 year ago
First Eagle Investment Management has priced the first new middle market CLO since Russia's invasion of Ukraine sparked high volatility in the credit market -
AIG, BlackRock, First Eagle and GoldenTree bring weekly CLO reset volume to $5.9 billion
1 year ago
Four managers capped off a huge week for US CLO reset activity by reworking 2019 deals, bringing weekly reset volume to $5.85 billion across 12 transactions -
Credit funds at a glance (February 2022)
1 year ago
A round up of fundraising and people moves in credit -
Market ponders Sofr spread adjustment amid investor lag
1 year ago
The CLO market is waving goodbye to Libor as a benchmark rate and transitioning to alternatives for the first time in the history of the asset class. But there is no consensus as to what the Sofr spread adjustment should be, and some of the largest buyers are said to be slow to consider the impact of a benchmark transition -
Mid market CLO league tables: the only record left to break in 2021
1 year ago
New issuance is still shy of the $16 billion set in 2018, but stands not far off at $15.62 billion
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