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Credit funds at a glance (May 2022)
19 days ago
A round up of fundraising and people moves in credit
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We’re drifting apart
19 days 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 -
Two more seasoned CLOs poised to switch to Sofr based on issuance trigger
21 days ago
CBAM 2018-6 has joined Greywolf III-R and IV-R as another pre-2022 US CLO to switch its benchmark rate from three-month Libor to three-month Sofr after the market hit the same issuance trigger -
Experienced CLO investor set to join Carlyle in New York
25 days ago
Carlyle Group is making a big hire to its CLO investment team in New York -
Carlyle closes CBAM transaction to become largest CLO manager in the world
1 month ago
Carlyle Group has closed a deal to buy the assets of CBAM and has become the largest CLO manager in the world -
Arb work pays off
1 month 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 -
CBAM CLO debt comes into play with reset incentive
1 month ago
Carlyle Group’s acquisition of CBAM for roughly $787 million ($615 million in cash) has underlined that we are in a seller’s market, sources say. But a key part of that deal will be the ability to extend CBAM CLOs through resets -
Quarterly rankings: Wave of acquisitions reshapes CLO market
1 month 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 -
Senior CLO spreads widen again as Carlyle places senior triple As at 146bp
1 month ago
CLO triple A spreads began the week wider in the primary market after Carlyle Group priced a new deal with the seniormost notes yielding Sofr plus 146 basis points -
Carlyle hits $4.6 billion hard cap on second global credit opps fund
1 month ago
With leverage, Carlyle Credit Opportunities Fund II has around $6 billion of capital to deploy -
Carlyle brings first new US CLO of 2022
2 months ago
Carlyle has priced a $407 million US CLO named 2022-1, its first new deal and second overall CLO transaction of 2022 -
CBAM: star power, friends in insurance, and doing things 'my way'
2 months ago
"And now the end is here, and so I face that final curtain... I've lived a life that's full, I traveled each and every highway, And more, much more
I did it, I did it my way". Sinatra could easily have been thinking of CBAM when he penned these lyrics. We look back at how a group of experienced CLO officials came together to launch a mega player in the CLO business in no time at all -
Carlyle to become world's biggest CLO manager with deal to buy CBAM assets
2 months ago
Carlyle Group says it is buying CBAM Partners assets in a deal that is set to make the firm the largest CLO manager globally with about $48 billion of CLOs under management. -
Packaging company Schur is painful for European CLOs
2 months ago
The dramatic fall in loans taken out by Austrian flexible plastic packaging manufacturer Schur Flexibles has shocked CLO managers. The firm is hiring PJT Partners and Allen & Overy ahead of a potential restructuring -
CLO pipeline: deals come in two by two hurrah! hurrah!
3 months ago
It is raining CLOs in February and some issuers are preparing for the deluge by printing deals at the double -
Carlyle and Oak Hill give $50 million upsizes to CLOs amid resets
3 months ago
Carlyle Group and Oak Hill Advisors each reset a legacy CLO on Monday, with both managers opting for a substantial upsize of the original deals -
European CLO market gets underway with two refis, one reset and bubbling pipeline
3 months ago
Managers priced two European CLO refis and one European CLO reset on Thursday as Barings, Blackstone and Carlyle all reworked deals -
Ares expands into European real estate debt with Carlyle hire
3 months ago
Ares has expanded its presence in European real estate debt with the appointment of former Carlyle official as partner and head of the real estate debt team -
US CLO league tables: Blackstone and Citi win new issues but CSAM and JP Morgan take overall issuance crown
4 months ago
The US CLO market had an extraordinary 2021 with almost $400 billion of overall issuance pricing as records were set for all forms of issuance -
Global 2021 CLO league tables
4 months ago
Global 2021 CLO league tables -
Carlyle prices record 25th CLO primary transaction of 2021
5 months ago
Carlyle Group's US CLO primary haul for 2021 grew to a record 25 transactions on Friday after the manager refinanced Carlyle US CLO 2019-3 via Citi -
CLO managers show respect to their elders
5 months ago
Alongside lucrative new issues, managers also make time for refinancing and resetting old deals. Our data shows that, in 2021, mid-sized firms were the most effective at this balancing act -
Carlyle refinances whole stack of 2019 CLO
5 months ago
Carlyle Group has teamed up with Bank of America to refinance the entire capital stack of Carlyle US CLO 2019-2 -
CLOs at a glance (January 2022)
5 months ago
A listing of CLOs that have priced in the last month -
Carlyle and Pretium opt for short reinvestment periods on new US CLOs
5 months ago
Carlyle Group and Pretium each opted for a short reinvestment period as they printed new CLOs on Friday
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