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At least 2020 wasn’t dreadful for CLOs
25 days ago
Last year’s downturn was another in which CLOs survived and in many cases thrived as active management and Libor floors helped managers deliver 13%-plus returns to equity -
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 -
Fortress refis two tranches and amends another from 2018 bond-flex CLO
2 months ago
Fortress Investment Group has teamed up with GreensLedge and Natixis to cut the funding costs of three tranches of its 2018-vintage bond-flex CLO named FDF IV, -
Fortress partially refinances bond-flex CLO
3 months ago
Fortress Investment Group has partnered with GreensLedge and Natixis to partially refinance its 2017 vintage bond-flex CLO named FDF III -
Elements work against CLO managers in Q3
3 months ago
CLO equity distributions fell in Q3 largely due to factors, such as Libor mismatches, that CLO managers can’t control. But these headwinds could turn in favour of managers in the near future -
Fortress prices first BSL CLO in over a year
3 months ago
Fortress Investment Group has priced its first CLO backed by broadly syndicated loans in over 12 months -
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 -
Ex-Fortress official launches $1.5 billion litigation finance firm with Tetragon backing
4 months ago
The new business is backed by Tetragon’s TFG Asset Management, which will receive a minority equity interest, while Fortress has entered into co-investment agreements with the newly launched firm -
LP round up: $5 billion flows to credit as private market allocations increase
5 months ago
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux -
Fortress prints third fixed rate CLO refi of the year
5 months ago
Fortress Investment Group placed its third fixed-rate CLO refi post-covid yesterday, teaming with MUFG to rework the double A-rated notes of its 2017 transaction named Fortress Credit BSL V -
Mid market CLO league tables: Golub retakes new issue lead
5 months ago
Golub further cemented its lead over Owl Rock in Creditflux's overall rankings, as well as reclaiming the crown for new issuance, by pricing the only new mid-market deal in August -
LP round up: Connecticut eyes Fortress for private credit partnership
6 months ago
Investors placed $3.3 billion across 26 credit mandates over the past fortnight, according to documents seen by Creditflux -
Fortress and Octagon add to 2018 fixed-rate CLO refi trend
6 months ago
Another two CLOs refinanced their fixed rate debt tranches on Thursday, bringing the total refi activity in the last two months to 15 transactions -
Fortress and Natixis strengthen mid-market CLO refi run
6 months ago
Fortress Investment Group has partially refinanced its third middle market CLO in as many months, say sources, with Natixis arranging the market's fourth deal in a row -
Managers weigh up matters of principal
6 months ago
CLO managers that were able to avoid OC traps made double-digit equity distributions in Q2, despite the headwinds. But these firms tended not to be among those that built the most par -
CLO refi volumes reach $320 million this week as Fortress prices second deal
6 months ago
Fortress Credit Investors has priced a second CLO refinancing in the space of as many days, bringing the weekly refi volumes up to $318.72 million - the largest week for CLO refis by volume since February -
Refinancing of fixed CLOs gathers pace as Jefferies follows Natixis with triple MJX refi
6 months ago
Natixis has built on its drive to refinance CLOs' fixed rate tranches by arranging a $100 million transaction for Fortress Investment Group. And Jefferies has joined the fray, on Tuesday becoming the second bank to refinance CLOs amid the coronavirus pandemic as it repriced six tranches across three CLOs managed by MJX Asset Management -
Mid-market CLO issuance returns as Fortress prices $390 million deal
7 months ago
Fortress Investment Group has overcome mid-market CLO headwinds to become only the second manager to price a new issue deal since covid-19 -
LP round-up: Champaign pension raises a glass (or bucket) to private credit
8 months ago
Institutional investors allocated over $600 million to 11 managers this week, according to board documentation seen by Creditflux -
CLO pipeline: manager prepares crowning return as primary market gets busy
8 months ago
CLO secondary prices have rallied hard in recent weeks, providing impetus for the new issue deal pipeline to fill up quickly. But one surprise is that Western Asset Management has chosen this moment to return to the primary CLO market, after several years' absence -
Fortress digests CraftWorks bankruptcy
11 months ago
CraftWorks Holdings filed for Chapter 11 bankruptcy yesterday, with Fortress Investments holding all of the Tennessee restaurant operator's first lien debt - of which over half is in middle market CLOs. The New York-based firm has submitted a “stalking horse” bid to buy CraftWorks' assets -
Fortress prices its first CBO of the year
1 year ago
Fortress Investment Group priced its first new issue CBO of the year on Friday via GreensLedge, the lead arranger on the deal, and Natixis -
CLO pipeline: high triple C bucket opens a Gateway to pricing
1 year ago
In less than ideal market conditions, even experienced CLO managers are learning new tricks to keep the pipeline full. Of the 11 US new CLOs that appear in the pipeline this week, two are high triple C bucket transactions -
CBOs aren’t fixated on interest rate moves
1 year ago
The loan sell off at the start of this year highlighted that CBOs are not a play on interest rates or bond prices — they’re taking advantage of the flexibility to rotate between loans and bonds -
Fortress prices new issue CLO with blended triple As above 150bp
1 year ago
Fortress Investment Group on Friday priced a new issue CLO backed by broadly syndicated loans via Natixis, according to market sources
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