CLO pipeline: fixed income giants plan debut 2.0s with Morgan Stanley
Two large fixed income managers are pre-marketing debut 2.0 CLOs

Napier Park completes second euro CLO post-covid
Napier Park Global has priced its second European CLO post-covid, teaming up with BNP Paribas to issue the €353 million Henley CLO III on Wednesday

Fund performance: A third of funds reach positive territory in 2020
August has been another successful month for the CLO category as seven of the top 10 funds invest primarily in CLOs

Napier Park plans second European CLO in four months
Napier Park Global is set to price its third European CLO, Henley CLO III, with the transaction anticipated to price next week

LP round up: $5 billion flows to credit as private market allocations increase
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux

Don’t obsess over the state of your OC cushions
During Creditflux’s live CLO webinar last month, panellists agreed that fighting to keep an over-collateralisation test in compliance could do more harm than good in the long term

They said it: "Imagine a garden party and all of a sudden a big wasp shows up"
On Creditflux’s US CLO webinar last month, Napier Park’s head of US CLO investments Serhan Secmen described the March sell-off as a garden party

Euro CLO league tables: fresh faces emerge with new deals
May was a month of fresh faces as three new managers entered the ring for the first time in 2020

Napier Park brings covid-era European CLO volumes to €1.5 billion
Napier Park Global today became the sixth CLO issuer in Europe since the onset of the pandemic, according to market sources, bringing volumes on the continent since the outbreak of the coronavirus pandemic to over €1.5 billion

Single Bs set to return to primary euro CLOs as Napier Park markets new issue
Napier Park Global Capital is set to become the first CLO manager to sell a single B-rated CLO since the covid-19 pandemic onset,

Euro CLO league tables: new issues shatter 2018’s record but total issuance falls
The European CLO market continues to grow at a record shattering pace with 2019 new issuance volumes totalling €29.8 billion, an 8% increase on 2018’s previous record figure, from 53 active managers

Napier Park beats 47 managers to win pension's lucrative credit mandate
Napier Park Global Capital has emerged as the winner for a $500 million illiquid credit mandate for Los Angeles County Employees Association, after the pension recieved 48 responses to its original request for proposal 

Double Bs tighten as Regatta prices junior CLO debt at 730bp
Regatta Loan Management, the CLO management entity linked to Napier Park Global Capital, has joined the select number of US CLO issuers to price double-B rated debt at less than 800 basis points

Points up front: Credit professionals to sleep rough for charity
Head of structured credit at Napier Park Global Capital, Serhan Secmen, will be spending 21 November sleeping out. He’s not being evicted – rather he’s volunteering to raise money in support of homeless children.

Texas pension to lift direct lending budget to $250 million
Texas County & District Retirement System (TCDRS) is considering investment in a number of direct lending funds, with existing and new managers, according to documents seen by Creditflux  

US CLO round-up: 20 managers sit on the sidelines as volumes play catch-up
US CLO issuance this year is trailing 2018 by $10.7 billion as of 6 September, dampened by a slow third quarter. But Napier Park and Par-Four priced deals, which means that 20 managers are yet to return having priced CLOs last year 

Regatta prices first US CLO in 12 months
Regatta Loan Management - the capitalised manager vehicle linked to Napier Park Global Capital - yesterday returned to the CLO primary market with its first new issue in the US market for just under a year

Market rallies as key CLO investor retreats

Euro CLO league tables: three debutants, but familiar faces stay top
June brought €3.4 billion of European CLO issuance between seven new issues and two refinancings. Of the seven new issue European CLOs priced last month, three were from debut managers to the continent 

CLOs at a glance

Napier Park joins Europe's CLO manager club after pricing first deal via Citi
Napier Park Global Capital on Friday became the third debut CLO issuer in Europe of 2019, according to market sources

Napier Park targets 114bp triple A print as it markets first euro CLO
Napier Park Global Capital has begun marketing its debut euro CLO and is targeting a 114 basis point print on its triple As

Ex-Goldman Sachs official joins Napier Park as inaugural European CLO nears
The firm has hired an ex-Goldman Sachs official to its European credit team

Napier Park joins growing list of US CLO managers looking to issue in Europe
Napier Park Global Capital has joined the growing list of CLO managers looking to issue in Europe for the first time, according to market sources