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European CLO repricings top €8 billion in 2021 as Ares and PGIM rework deals
4 days ago
Ares and PGIM printed two repricings of European CLOs on Wednesday, taking year-to-date volume to €8.29 billion -
Ares, Brigade and Redding Ridge issue CLO resets totalling $1.61 billion
11 days ago
$1.61 billion in CLO resets issued on Wednesday as new deals emerged from Ares Management, Brigade Capital Management and Redding Ridge Asset Management -
Ares holds first close of junior direct lending fund as it eyes 'dozens more' $1 billion-plus funds
17 days ago
Ares outlined several credit fundraising initiatives in its fourth quarter earnings call - among which were a first close of its latest junior direct lending fund, upping the target for its credit special situations fund by over $1 billion, as well as new product launches including an evergreen alternative credit fund -
LP round up: Dutch pensions put €1.3 billion into infra debt
1 month ago
Institutional investors allocated over $2 billion to credit funds in January. Opportunistic credit funds were a favourite but the biggest moves came in infrastructure debt -
Goldman Sachs collects $4 billion for large cap direct lending
1 month ago
Goldman Sachs Merchant Banking Division has raised at least $4 billion for its fourth large cap-scale direct lending fund, Broad Street Loan Partners IV -
LP round up: pensions plan private credit pacing as strategic credit takes on "midfield" role
2 months ago
US pensions have allocated $1.4 billion across 22 credit funds including those managed by Angelo Gordon, Ares and GoldenTree, according to recent board documents seen by Creditflux. Meanwhile a pension fund draws parallels between strategic credit and Jordan Henderson -
HPS managing director joins Ares direct lending team in New York
2 months ago
Ares Management has added to its direct lending team in New York -
Ares/Crestline CLO overlap jumps to 60% following Ares takeover, Fitch says
2 months ago
CLO acquirers have been busy converting purchased portfolios to their house-style, according to research by Fitch -
LP round up: Arcmont, Ares and Sixth Street win European direct lending mandates
2 months ago
Investors have allocated around $2 billion to credit funds in recent weeks, according to board documentation seen by Creditflux. Among those to recieve allocations include ADM, Arcmont, Ares, Audax, Bain, Centerbridge, Clearlake, Goldman Sachs merchant banking, Invesco, Monarch, Oaktree, Raven, Sixth Street and Sound Mark -
OC health check: 41 CLOs heal their breaches
3 months ago
147 CLOs breached an over-collateralisation test in October, down from 183 in September. 41 CLOs that breached an OC test in September passed all OC tests in October, most of which had October payment dates -
Ares rides vaccine rally to price tightest three-year US CLO
3 months ago
CLO primary spreads have tightened dramatically after Ares Management priced its first US new issue post-election, with weighted funding costs of just 167.38 basis points over Libor -
CLO pipeline: New issuance pause ends as managers look to gain from rallying spreads
3 months ago
It is two and a half weeks since the last US CLO new issue priced, but that is set to change and Bridgepoint’s debut European transaction on Friday brought an end to Europe’s own two-and-a-half-week primary break -
Ares targets $4 billion for junior private credit fund
3 months ago
Ares Management is targeting $4 billion for its latest junior private credit fund, Ares Private Credit Solutions II -
Trimark loan deal splits lenders and sparks complaint in NY Supreme Court: Debtwire
3 months ago
A new super-priority loan issued by Trimark has caused a rift between the company’s lenders and led to a complaint being filed in the New York Supreme Court. -
Six European CLO managers switch to Ireland after Dutch tax hike
3 months ago
European CLO managers have been rapidly shifting their Netherlands-domiciled SPVs to Irish DAC vehicles, according to sources, including PGIM, Barings and Cairn -
Ares holds €6.97 billion first close on European direct lending fund
4 months ago
Ares Management Group has collected $12 billion in gross credit commitments over the third quarter of the year, according to the firm’s earnings presentation, including $8.2 billion for the first closing of its fifth European direct lending fund -
LP round up: EIF backs four debt funds while Carlyle wins $1 billion
4 months ago
Institutional investors have allocated just over $4 billion to 27 credit managers in October board meetings -
Ares prices third new US CLO since April
4 months ago
Ares Management printed its third US CLO post-covid yesterday, bringing its new issue volume amid the pandemic to $1.39 billion -
Former Ares partners put ESG and tech at centre of new CLO business
4 months ago
Three former Ares Management partners have established a CLO business with plans to launch a first US CLO early next year -
Euro CLO round-up: fluctuating spreads give mixed signals
4 months ago
Last week was one of the European CLO market’s busiest since the coronavirus crisis began, as four managers brought new deals to market – adding €1.35 billion -
Global CLO b-wic round-up: CLO mezz tranches widen amid macro concerns
4 months ago
Last week was busy for the primary European CLO market but not for secondary, with €1.35 billion of new issue European CLOs priced across four transactions but just €190 million of European CLO paper listed in b-wics -
CLO pipeline: three behemoths prepare for quick-turnaround new issues
4 months ago
CLO managers have printed at a frenetic pace since the start of the quarter with $3.36 billion of issuance across all CLO markets and pricing types -
Credit fundraising: managers build homes for real estate credit funds
4 months ago
The “largest ever real estate credit fund” was one of the fundraising highlights last month as Blackstone’s Real Estate Debt Strategies IV fund reached $8 billion on its final close -
Hayfin partner lands at Ares in London
4 months ago
Ares Management has appointed a former Hayfin official as managing director in the firm’s credit group, focused on alternative credit investments -
Price talk emerges for Ares European CLO
4 months ago
Price talk for Ares' latest Eurpopean CLO has emerged with triple As guided around Euribor plus 110 basis points, in line with deals priced by Barings, CVC and Redding Ridge
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