Creditflux

Ares appoints Atalaya founding partner to co-head alternative credit unit
He will serve as co-head of Ares' $4 billion alternative credit unit alongside Keith Ashton 

Ares credit business grows 4.4%, driven by US direct lending
US and European direct lending, alternative credit and syndicated loan funds dove growth for Ares Management Corporation in the second quarter, the firm said

Global CLO b-wic round-up: 71% of equity positions trade as supply picks up
The European and US secondary CLO market took a step back this week as the primary CLO generated $7.8 billion of deal flow globally

Ares refinances single tranche of 2016 CLO
Ares Management returned to the CLO primary market on Friday to price its seventh transaction of 2019

Ares and Barings lead the way as triple A spreads regain lost ground
CLO triple A spreads in Europe have reached their tightest point in months, with two deals issuing their first pay notes at 108 basis points over Euribor

Ares brings in $1 billion for first credit special situations fund
The Los-Angeles based manager is now just over halfway to its $2 billion target size

US CLO b-wic round-up: secondary volumes reach new heights with equity lagging
The US CLO secondary space saw almost $1.8 billion of paper listed last week according to CLO-i, a record amount for this year. Equity, however, did not draw much interest

Direct lender hires head of credit as it closes in on European mid market CLO
BeSpoke Capital has made a big hire as part of a reorganisation of the direct lender’s business

New kids on the block dominate awards

Ares hires Natixis deputy CEO for the Americas to credit investing role
Ares Management has poached the Americas deputy chief executive officer from Natixis's investment banking business

Global b-wic round-up: Short-dated CLO paper hits the market
Last week brought over $800 million of b-wics listed in the US CLO secondary market for the first time this month, with around 10% being paper that had a reinvestment period that ended in 2019.

Spire wins Creditflux Manager of the Year award
Spire Partners was the big winner at Creditflux's Manager Awards last night as the London-based manager scooped the award for the manager of the year. On top of this, the firm picked up awards for Best European CLO Manager and Best European CLO for Aurium CLO II

Pennsylvania pension commits $150 million to European credit funds
Pennsylvania State Employees’ Retirement System approved $975 million of investments at its 24 April meeting

US CLO league tables: heavyweights dust off and jump back in the ring
Competition has prevailed after a tough quarter for the CLO market, in which banks offloaded their carry-ons from last year

Ares makes it three new issue US CLOs with $589 million deal
Ares Management has produced its fourth new issue CLO of 2019 and its third in the US

US CLO managers look to scale flat WALs in search of flexibility
The anticipation of a downturn in the credit cycle has made investors turn their attention toward document provisions that give CLO managers flexibility

Ares aims for four new issue CLOs in 2019 as it markets $590 million deal
The one manager that has priced three new issue CLOs this year is marketing its fourth

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.

Former Ares partner takes on head of structured products role at Sound Point (correction)
A figure with more than 20 years of experience in CDO and CLO markets has resurfaced at Sound Point in New York 

Ares plans $509.6 million CLO reset with JP Morgan
Ares Management is preparing to price a $509.6 million CLO reset this week, a deal which should see the west coast become only the second to price four CLO transactions in 2019 after Octagon Credit Investors

Ares to expand network with hubs in Amsterdam and Madrid
Ares Management is expanding across continental Europe by opening offices in Amsterdam and Madrid. These are expected to be running in the first half of 2019

Ares and GSO carry unitranches over €1 billion mark
Flush with cash, European direct lending managers have finally passed the milestone one billion unitranche mark this quarter

Unlevered direct lending funds bring in first-time investors
Unlevered direct lending funds are particularly appealing to first-time investors and one of the biggest managers in the business has taken note of this

We can’t hide it any longer, we’re tiering up
With the opening months of 2019 highlighting a clear class system among CLO managers, there has never been a better time to assess tiering. We find that timing, patience and luck all play a role