Creditflux

Connecticut $36 billion pension hires first chief risk officer
The Connecticut Retirement Plans and Trust Funds has hired its first-ever chief risk officer

THL anchor CLO equity seeks purchase in secondary market
Up for auction later today is the 15th controlling stake in a US CLO this year, with nine of the previous 14 having failed to trade

Oaktree prices one of the largest new CLOs of the year
Oaktree Capital Management yesterday priced one of the largest new CLOs of 2019, with the transaction coming in at $748.6 million

Global CLO b-wic round-up: secondary volumes make up for slump in primary
June saw the highest volume of US CLO b-wics this year with over $3.8 billion of US CLOs on the auction block, according to CLO-i. 

CLO pipeline: Barclays and Goldman branch out to mid market
The US CLO pipeline has been full in recent weeks and this continues, with 18 new issue CLOs and a further nine refinancings appearing this week.

Market bemoans Europe’s lack of CLO manager tiering
Manager tiering became a hot topic in Europe again last month following Credit Suisse Asset Management’s decision to break with tradition by syndicating its triple A notes in Madison Park Euro Funding XIV, rather than place the notes with an anchor investor.

Oaktree refinances 2016 European CLO with triple As at 87bp
Oaktree Capital Management yesterday refinanced its 2016 vintage CLO named Arbour CLO IV, producing the European market’s first sub-90 basis point print in over nine months

Oaktree plants US CLO with fixed rate junior triple-A notes
Oaktree Capital Management priced its second new issue US CLO of 2019, less than a month after printing Oaktree CLO 2019-1

Back so soon: Oaktree markets follow-up US CLO
US CLO managers are moving their issuance forward at a rapid rate, with sources indicating that Oaktree Capital Management is working with Morgan Stanley on a new issue less than a week after pricing its first US deal of the year

CLO pipeline: managers decide there's no point hanging about with quick-fire CLOs
The CLO pipeline for the coming week shows signs of decent flow as managers ready themselves to offload deals. 

Oaktree's head of European distressed debt to lead expansion in Asia
Oaktree Capital's head of distressed debt for Europe and Asia will relocate to Hong Kong 

Oaktree prices triple As at benchmark spread with new CLO via Wells Fargo
OakTree Capital management priced their first US CLO of the year via Wells Fargo yesterday

Global CLO round-up: 15 months to one month - managers set their own pace
Three new US CLOs priced this week courtesy of; Seix Advisors, via BNP Paribas; Kayne Anderson, via Goldman Sachs; and Steele Creek, via RBC. In Europe, Oaktree Capital Management paired with Barclays to price Arbour CLO VI.

Oaktree scores tight execution on new Arbour CLO
CLO spreads in Europe showed signs of tightening today as Oaktree Capital Management priced its latest transaction’s triple As at 108.5 basis points over Euribor

Oaktree markets new issue European CLO via Barclays
Oaktree Capital Management is marketing a new issue European CLO named Arbour CLO VI

Brookfield strikes deal to buy 62% stake in Oaktree
Brookfield Asset Management has agreed to buy a 62% stake in Oaktree Capital Management in a move which will lead to the creation of one of the largest asset managers in the business.

Oaktree reports distressed gains over year despite Q4 losses
Oaktree was not immune from challenging fourth quarter globally. Its distressed debt strategy, for instance, returned a gross loss of 1.5%

Oaktree makes push into CLO investing with new European fund
Oaktree Capital Management is putting together a new European fund to invest in CLOs

Oaktree partially refinances 2016 CLO, cutting triple A spread by 33bp
Oaktree Capital Management partially refinanced its 2016 deal named Oaktree EIF III Series I earlier this month

Oaktree plans $473 million refi of 2016 CLO
Issuance may have slowed across the CLO market as year-end approaches, but Oaktree Capital Management is in the market with a refinancing of 2016’s Oaktree EIF III Series I

Till debt us do part: CLOs have and hold David's Bridal loans as they plummet 10.87%
CLOs hold $26.63 million exposure to David’s Bridal, which filed for Chapter 11 bankruptcy on Monday

Oaktree joins 115bp club as its US CLO issuance re-blooms
Oaktree Capital has priced its first market-standard new issue CLO since 2015 with its senior triple A notes at the benchmark spread of 115 basis points over Libor

Iowa pension plan seeks high yield manager
Iowa Public Employees Retirement System (IPERS), a $30 billion public pension fund, is searching for one or more firms to manage its high yield portfolio    

$509 million of new issue CLO paper set to come from Oaktree
Oaktree Capital Management is returning to the US new issue CLO market with its first market-standard transaction since 2015

Distressed debt outperforms as Texas pension fund's credit strategies gain 11.2%
Texas County and District Retirement System (TCDRS), the $30 billion pension fund, generated 11.2% annualised returns from its credit portfolio for the year ending 30 June. Distressed debt was a major positive, but IG credit lost value