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The Last Tranche with Pearl Diver's Layton: its not about tiering, its about portfolio construction
8 months ago
In this episode of The Last Tranche, Matt Layton, partner and head of Europe at Pearl Diver Capital, discusses strategies for investing in CLO debt and equity amid the recent rally in liabilities -
We’ll get through this awkward patch
1 year ago
Wide liabilities have made pricing CLOs trickier in the past few months. But speakers at Creditflux’s CLO Symposium were optimistic that the arbitrage is OK — so long as you can place those triple As -
CLOs should realise gains from reorg equity positions: Pearl Diver
2 years ago
Reorg equity sitting within CLOs has risen in value over the last year and Pearl Diver Capital says it may be a good time to exit these positions “and realise value for CLOs” -
Sofr spike boosts CLO debt as Europe and US go out of sync
2 years ago
The sharp rise in three-month term Sofr has caused CLO relative value to shift decisively towards primary US CLO debt tranches in January as the floating rate benchmark shot up from 9.11bp to 17.06bp (from 1-20 January) -
They said it: "The tone may have been too positive"
2 years ago
CLO market participants have been guilty of being overly bullish -
CLO pricing holds up against omicron as liquid credit takes a hammering
2 years ago
Being illiquid sometimes has its advantages, with the CLO market the picture of serenity as CDS swings imply volatility is afoot -
Manager targets $450 million for global CLO fund
2 years ago
A New York pension has backed the fund, which will invest in CLO debt and equity tranches and is said to have held a first close in Q1 -
CLOs come up smelling of roses
2 years ago
The coronavirus crisis could have cut back 10 years of CLO market progress, but investors’ foresight, trading chops and flexibility meant many saw their strategies blossom during 2020 -
Credit Rendezvous: ready and waiting
3 years ago
In Creditflux's quarterly review of credit, portfolio managers tell us that Inflation is likely to nudge higher but they are optimistic because dispersion will pick up and windows of volatility will emerge, rather than elongated phases of stress -
2020 wrap: CLO funds bloom despite rocky ground
3 years ago
2020 was a busy year for CLO fundraising, with Creditflux recording at least 30 funds that launched over the 12 months to invest across the CLO capital structure -
LP round up: $2.8 billion flows to credit as Apollo concedes fundraising may slow
3 years ago
Florida Retirement System Trust Fund made the largest commitments allocating $1.6 billion. Apollo meanwhile acknowledged a potential slowdown in fundraising as investors await results on an independent review into CEO Leon Black's relationship with Jeffrey Epstein -
New York pension allocates $250 million to CLO fund
3 years ago
New York State Common Retirement Fund has allocated $250 million to a CLO-focused vehicle, according to a recently released September transaction report -
Faith in structures has been rewarded
3 years ago
CLOs have been resilient against covid-19 fallout, said speakers at Creditflux’s CLO Symposium last month. But there’s always room to improve and 3.0 deals may add ESG and bullet tranches -
Credit fundraising: managers build homes for real estate credit funds
3 years 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 -
Pearl Diver collects $400 million for CLO fund
3 years ago
CLO investor Pearl Diver Capital has finalised fundraising for its latest CLO fund at $400 million, exceeding an initial $300 million target size -
Issuers fashion new outfits for junior mezz
Junior CLO tranches have lost around five points in the past quarter. In response, new issue desks are dressing up junior debt in two piece suits and designing a range of protective styles4 years ago -
Capital raised for risk retention keeps struggling CLOs afloat
5 years ago
In a bid to turn struggling warehouses into CLOs, managers are prepared to take losses on funds raised for risk retention in order to issue new deals. -
Pearl Diver launches new CLO funds and expands into US with New York office
5 years ago
CLO equity investor Pearl Diver Capital is in full-on expansion mode with the launch of new funds and the opening of its US office in New York -
Pearl Diver raises huge global CLO fund with broad mandate
7 years ago
Sources say that Pearl Diver Capital has completed the biggest fundraising effort geared towards CLOs this year -
London-based fund manager's new global CLO fund gains momentum
10 years ago
A control CLO equity investor has had a first close on its new fund, which targets both US and European deals
20 results found Showing page 1 of 1
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