Past returns: Would-be CLO buyers turn sellers
Five years ago in Creditflux, we reported that the new generation of US 2.0 CLO managers were striving to grow their CLO AUM through manager acquisitions; namely, Benefit Street Partners and Triumph Capital Advisors, the pair having issued their debut CLOs in 2012 and 2014, respectively.

US CRE CLO growth spurt encourages Europeans
The US CRE CLO market hit a record $19.2 billion in 2019 and sources say that a first ever European deal will be issued this year. They cite the growing commercial mortgage direct lending market on the continent as laying the foundations for a European CRE CLO.

Benefit Street completes new issue CLO via Morgan Stanley
Benefit Street Partners priced a new issue CLO via Morgan Stanley on Friday named Benefit Street Partners CLO XIX, according to market sources, with the deal pricing at $508.7 million

Benefit Street prices $507.85 million US CLO
Benefit Street Partners priced its second new CLO of the year on Thursday, according to market sources

Los Angeles pension appoints four managers for private credit mandate
Los Angeles City Employees Retirement System (Lacers) has awarded four contracts for a $670 million private credit mandate search, according to minutes from the July investment committee meeting.  

Benefit Street slashes 32bp from 2016 CLO's funding costs via refi
Benefit Street Partners teamed up with Citi on Friday to refinance Benefit Street Partners CLO X, according to market sources, slashing 31.96 basis points from the deal’s weighted funding costs

Los Angeles pension fund narrows down global direct lending search to four managers
Los Angeles City Employees Retirement System (Lacers) has listed the finalists for a private credit mandate, according to an agenda document seen by Creditflux.  

Benefit Street teams up with Wells Fargo for $508.2 million new CLO
Benefit Street Partners has priced its first new issue CLO of 2019

Cliffwater raises $135 million for interval fund geared towards direct lending
Cliffwater has raised $135 million for an interval fund through which it will allocate to five sub-advisors

US pension to invest $75 million in private debt
Vermont pension investment committee (VPIC) has decided to commit $75 million in private debt, following a private credit strategic investment plan recommendation plan recommendation by its investment consultant NEPC.  

Benefit Street prices new CLO ahead of Franklin Templeton integration
Benefit Street Partners has issued its first CLO since the announcement in October that it was being acquired by Franklin Templeton Investments

Franklin Templeton acquires Benefit Street
Franklin Templeton Investments has acquired $26 billion credit fund manager Benefit Street Partners

Benefit Street Partners taps Monroe and BlackRock for private debt origination hires
Benefit Street Partners has made two senior appointments to its private debt origination team

Benefit Street prices its 15th new CLO
Benefit Street Partners priced a new issue CLO yesterday, bringing its 2018 volumes up to $2.4 billion

Benefit Street reworks 2016 CLO to reduce funding costs by 61bp
Benefit Street Partners has made a quick-fire return to the CLO market with a reset of its 2016 deal, Benefit Street Partners IX

CLO b-wic line-up: over $300 million of senior CLO paper goes on the block
Senior notes dominate the secondary market today as $306.5 million worth of triple A notes are up for grabs

Experienced anchor CLO investor Bates joins Flat Rock
Shiloh Bates, a well known control CLO equity investor, has resurfaced at Flat Rock Global

Benefit Street hits a turn in the road, pricing its first CLO re-issue transaction
Benefit Street Partners has entered the burgeoning CLO reissue space, according to market sources

Triangle BDC goes on a different tangent with Barings and Benefit Street deals
Triangle BDC sells assets to Benefit Street and arees to Barings takeover in an unusual deal 

New York manager issues its first new CLO of the year via Wells Fargo
The manager has priced its first new CLO of 2018, according to market sources

Benefit Street starts marketing $509.5 million new issue CLO
Benefit Street Partners is marketing its first CLO transaction of 2018, according to market sources

Two Benefit Street credit funds close at hard cap
Benefit Street Partners has announced the final closing of its fourth flagship fund, Benefit Street Partners Debt Fund IV, as well as a close of its inaugural Benefit Street Partners Special Situations Fund

JP Morgan prices $436.7 million refi for New York CLO manager
The refi is the manager's seventh transaction on the US CLO market to price this year

Griffin shifts BDC assets to credit fund managed by Bain
Griffin Capital Company has shifted assets from its Capital BDC into a closed-end credit fund, dropping Benefit Street Partners as subadvisor to those assets in the process

Kentucky pension funds invest $150 million in two US managers
Kentucky Retirement Systems has agreed to invest $150 million in private credit assets with two US asset managers, and has hired a new consultant to advise on asset allocation