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Woah, we’re halfway there
2 years ago
Judging by the 2020 vintage, European CLO overlap is 50%. But varied approaches to holding bonds and the many loans managers turn down mean there are ways for issuers to outperform -
CLOs wheel and deal as overlap increases
3 years ago
2020 CLOs are a different breed to any other vintage. But this cohort features an overlap of almost 40% as CLO issuers have been forced to focus almost entirely on secondary market loans -
Blackstone hires Carlyle co-head of illiquid credit as senior managing director
3 years ago
The New York-headquartered manager has hired a Carlyle official as a senior managing director in its opportunistic investing platform, Blackstone Tactical Opportunities. And Carlyle has subsequently promoted two officials on its team -
Carlyle holds first close on opportunistic credit fund amid 2020 'record fundraising'
3 years ago
Carlyle Group has held an initial closing on its second opportunistic credit fund amid a record credit fundraising year for the firm -
It's all relative: CLOs are lagging no more, as Carlyle deal drags market tighter
3 years ago
“CLOs are lagging” has been a much repeated refrain over the last nine months. But Carlyle Group has this week produced a US CLO that has dragged spreads to their tightest point in three years so that, rather than comparing CLOs to pre-covid levels, they should be assessed against early 2018 -
US and European CLO PMs earn promotion as Carlyle's Pace takes on new role
3 years ago
Carlyle Group’s global head of liquid credit has decided to take on a new role as vice chair of global credit, according to an internal memo seen by Creditflux, which will involve investing capital across the Carlyle platform -
Libor floors and Volcker tweak bode well for future of CLOs
3 years ago
It’s been a truly miserable year, but amid all the despair covered so tirelessly by the mainstream media has been an omission; namely, that CLOs have withstood the damage caused by the pandemic -
CLOs hold €250 million of defaulted French events organiser Comexposium
3 years ago
CLOs hold €246.1 million of French events organiser Comexposium, which entered safeguard protection in the Commercial Court of Nanterre on Wednesday -
iQor files for chapter 11 with CLOs holding $260 millon
3 years ago
17 CLO managers hold $263.1 million term loans of customer services provider iQor, which filed for chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas today -
Details emerge on nature of Revlon payment 'error' and lender attitudes
3 years ago
Fresh details have emerged on the nature of the ‘operational error’ Citi says took place when it transferred $900 million to Revlon loan holders -
Carlyle appoints European credit investor relations head
3 years ago
Carlyle Group has appointed an ex-Bain official as head of global credit investor relations in Europe -
CLOs hold $600 million of bankrupt retailer Tailored Brands
3 years ago
Tailored Brands has become the latest US retailer to file for Chapter 11 as a result of the coronavirus-induced pandemic. 37 US CLO managers hold $588.9 million in term loans of the Houston-headquartered firm, -
Beneath the triple C: downgrades hold steady as Travelport loses its luggage
3 years ago
For the second month in a row downgrades to triple C steadied, with just under $9 billion of CLO loans falling to this rating across 34 corporate borrowers -
Revolutionary ESG-linked loan wins CLO support
3 years ago
European loan investors welcomed a novel concept in June when Carlyle Group-backed Logoplaste issued the first term loan with pricing linked to environmental, social and governance (ESG) factors -
Beneath the triple C: downgrade rate slows as $8 billion of CLO loans tumble
3 years ago
May offered some respite to CLO portfolios as corporate downgrades to triple C were reduced heavily - affecting just $6.67 billion of US CLO paper and €1.09 billion of European CLO portfolios -
Europe’s newcomers find ways to stand out
3 years ago
Last year’s new European CLO managers needed to provide something different for investors. In general, they’ve succeeded, with Capital Four having one of the smallest overlap figures in our data -
Onex hires Jaber as it launches CLO investment business
3 years ago
Onex Credit Partners has hired Ronnie Jaber to start a CLO investment business in New Jersey, according to an announcement today -
Who’s got the moves US: oil and gas leads renaissance for US CLO managers
3 years ago
The US leveraged loan market has held steady over the last two weeks. After rising to just below 87 of par in mid-April, the S&P LSTA US Leveraged Loan index closed at 85.75 to start this week -
Who’s got the moves Europe: CLO managers enjoy climb of Everest
3 years ago
The European S&P/LSTA Leveraged Loan index enjoyed a strong month in April as it rose from 83 of par on 1 April to 89.2 by the end of the month. The index closed at 89.4 on 4 May to start the week -
Credit funds at a glance
4 years ago
A round-up of fundraising and people moves in credit -
CLOs face losses as Constellis loan drops to 28.5
4 years ago
32 CLO managers hold $640.4 million of Constellis Holdings’ debt, which Moody's downgraded to C after the company missed an amortisation payment due 31 December -
European corporate loans can fit into various fund types and this year there has been an increase in managed accounts targeting these assets. But CLOs are still the best structures to house loans4 years ago
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Budge up, more new managers are coming
Room for 10 more? The average loan overlap among recent European CLOs is 48.7% – so the expected influx of new managers will have to work hard to distinguish themselves from the pack4 years ago -
Tail wags dog as European CLOs' 108bp benchmark drags loans
5 years ago
European CLOs usually price on the back of where underlying loans are printing, but this year the reverse looks to be true -
Carlyle performance dips in Q4, but credit teams ride global volatility
5 years ago
Credit fund performance dipped for the Carlyle Group in the fourth quarter, as market volatility and fund outflows put a dent in the industry’s much stronger performance of the previous three quarters
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