Credit fundraising: November marks turning point as fund launches spike
November was always set to be an important month as the world awaited the US election outcome and the results of covid-19 vaccine being trials. This did nothing to slow down fund managers as 14 funds launched, up from only four funds launching in September and five in October

Alcentra returns to European primary CLO market after 13 months
Alcentra has priced its first European CLO new issue this year following a 13 month hiatus. Bank of America arranged the €303.1 million transaction

Double B spreads shrink to just 635bp as BlackRock prints tightest CLO yet
BlackRock has once again priced the tightest three-year reinvestment CLO post-covid, repeating a feat it last acheived back in September

Citadel PM joins hedge fund manager as global head of credit
A Citadel portfolio manager and former BlueMountain Capital Management partner has taken a top credit role at a fund manager

Capital Four markets four-year European CLO
Capital Four is marketing its second European CLO, just over a year after making its debut in CLO management

Allstate rides US CLO rally with super-tight new issue
Allstate Investment Management Company has printed a new CLO named AIMCO CLO 12 as liability tranches continue to rally

European CLOs will perform well in 2021 but expect new deal quality drop, says Moody's
In a report published today, rating agency Moody's said CLOs will continue to perform due to credit enhancement levels and despite rising defaults. But CLO portfolio overlaps look set to increase 

Law firm hires three-person CLO team from Cadwalader in New York
Alston & Bird has hired three officials from Cadwalader Wickersham & Taft to strengthen its structured finance offering

KKR features delayed-draw single Bs in US CLO
KKR priced its fourth US CLO of 2020 last week, taking its deal volume for the year to $1.31 billion in the US and around $2.17 billion globally

CLO triple A benchmark hits 105bp in Europe as Carlyle returns
.Carlyle Group has priced its first European CLO post March-sell off, setting a new benchmark for triple As

Compression plays out as HY and European CLO double Bs outperform
Investment grade and high yield credit spreads have tightened in sync with each other this week, but CDS and CLOs alike underline that the big theme over the past month has been compression between investment grade and high yield

European CLOs rise in secondary with Sound Point deal up 4.25 cents from issuance
Double-B rated CLO tranches received bids in the high 90s on Wednesday with Sound Point Capital Management’s debut European CLO attracting the highest cover of 98.25 cents on the euro. But the CLO rally is lagging moves in corporate credit  

Chenavari returns to CLO primary with first new issue in 16 months
Chenavari has returned to the CLO primary market with its first new issue deal since July 2019

PGIM reunites with JP Morgan for first US new CLO partnership in six years
PGIM has reunited with JP Morgan for the pair's first new issue US CLO in partnership in almost six years

Fortress partially refinances bond-flex CLO
Fortress Investment Group has partnered with GreensLedge and Natixis to partially refinance its 2017 vintage bond-flex CLO named FDF III

European triple As tighten to 106bp with CVC benchmark CLO
CVC Credit Partners priced its latest European CLO on Friday, securing the tightest triple A print since the March sell off

Elmwood prints five-year reinvestment CLO with triple As at 139bp
Elmwood Asset Management has priced its seventh CLO and its first five-year reinvestment deal since the March sell off

Trinitas prints first CLO following Clearlake aquisition with five-year deal
Trinitas Capital Management, the CLO management vehicle affiliated with Dallas-based WhiteStar Asset Management, has priced its first CLO since being bought by Clearlake Capital in June

York axes European hedge funds and prioritises long duration assets as co-CIO leaves
York Capital Management has opted to axe its European hedge fund strategies and refocus on alternatives including CLOs amid a string of executive personnel changes

Owl Rock prices tech-focused CLO
Owl Rock Capital Partners has priced a rare middle market CLO backed by loans to companies in the technology sector

AB swings back to mid market CLOs with $346.8 million new issue
AB has returned to middle market CLOs following its debut in CLOs backed by broadly syndicated loans last month

Invesco scores tightest three-year triple A print with first US CLO in 12 months
Invesco has returned to the CLO primary market with a first new issue deal since October 2019

CBAM prices first five-year CLO since March sell off
CBAM has priced a second US CLO post-covid and its first with a five-year reinvestment period

CLO pipeline: LCM switches arranger to complete deal and join issuance surge
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

Sycamore Tree hires experienced CLO investor in Dallas
Sycamore Tree Capital Partners has underlined its intention of launching a CLO investment strategy by hiring a former co-head of structured debt trading at Bank of America