Past returns: How Hildene took the lead
10 years ago in Creditflux we wrote about Hildene’s novel Hildene Leveraged Credit Fund, which was designed to take equity stakes in Hildene CLOs and provide a warehouse for forthcoming deals

CLO and structured credit PM parts ways from Hildene
An experienced CLO and structured credit specialist has left Hildene Capital Management

They said it: You’re going to rub someone up the wrong way doing that
Calling CLOs prematurely is no way to make friends 

Are we ready for another crisis?
Credit managers must brace themselves for stress in 2023, as rates rise and the number of poor performing assets increases. But most CLOs look well-placed and can rely on plump OC cushions 

Fund performance: Wake us up when September ends
After a resurgent August, credit markets hit a rough patch in September, with every Creditflux index posting negative returns, and only 12.9% of funds in our listings showing a positive return.

US CLO syndication returns after long layoff as triple As settle tighter
After months where CLO liability pricing lagged the loan market, September saw a reversal as a vibrant investor base helped CLOs outperform

CLO manager M&A deal boosts equity investor Hildene Capital
Hildene Capital Management boosted returns in its CLO equity business last month after its manager partner Carlson Capital sold the management contracts for its CLOs to WhiteStar Asset Management

HY fund is exception to rule of CLOs
CLO funds have had back-to-back years of outperformance versus credit, proving the asset class is a great place to invest, rain or shine. But a Wasserstein HY fund was the star performer in 2021  

Leucadia AM takes non-controlling stake in Hildene
Hildene Capital Management has entered a strategic relationship with Jefferies affiliate Leucadia Asset Management

Fund performance: CLO funds deliver again, but third of all funds post losses
CLO funds took six of the top 10 spots in October in a continuation of the previous month’s strong performances. However, a consistent showing from Wasserstein in the US high yield category has claimed the top spot for the last two months

Everyone’s ramping

Hildene hires business development head from One William Street
Hildene Capital Management has hired a new head of business development

Déjà vu as CLO strategies again top hedge fund tables
Seven out of the top 10 funds in our hedge fund tables belong to the CLO category as the asset class outperformed again in July

Fund performance: CLOs dominate again as CIFC and Hildene score hat-tricks
CLO funds once again take over the top 10 as seven of those listed with Creditflux invest predominantly in the asset class. So far in 2021, CLO funds have held a majority of the spots in the top 10 on four occasions

CLO funds defy soft market to deliver yet again
Corporate credit rallied in the second quarter, while CLO spreads dripped wider — but that hasn’t stopped CLO funds outperforming yet again

Fund performance: long-short funds challenge CLO strategies
CLO funds are maintaining their stranglehold on our top 10, but long-short credit funds are giving them a run for their money

Fund performance: Déjà vu as April leaders dominate
CLO funds stayed in the top flight for another month as they took over the top 10 credit hedge fund return table in May, when 87% of all funds listed made positive returns

The Last Tranche with Hildene's Jain: Cirque du Soleil shows CLOs do not have to lose out in a restructuring
In this episode of The Last Tranche, Hildene's Tapan Jain and Creditflux's Hugh Minch discuss recent changes in how CLO documents treat workout securities. Jain draws on his experience during the Cirque du Soleil bankruptcy and explains ways in which CLOs can profit from rescue financing

Carlson produces second CLO from its JV
Carlson Capital has priced its second CLO via Jefferies since entering into an strategic partnership with the bank and Hildene Capital Management to support its CLO issuance

2020 wrap: CLO funds bloom despite rocky ground
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

Fund performance: CLOs look to continue recovery with end of the year in sight
CLO funds claim the majority of positions in our top 10

Hildene launches novel JV to help CLOs profit from workouts
Hildene Capital Management has been putting in place special purpose vehicles alongside CLOs that can buy new workout loans and equity stakes in distressed assets

Carlson signs equity deal with Jefferies and Hildene for four CLOs in three years
Dallas-based manager Carlson Capital has entered a strategic partnership with Jefferies and Hildene Capital Management to support issuance of CLOs on its Cathedral Lake platform

Hildene to take over management of ground-breaking trups-style CLO
Hildene Capital Management is in line to take over the collateral management contract for the first trups-style securitisation since the financial crisis

Credit Rendezvous: record fiscal stimulus provides pick-me-up
Credit markets had a mini bounce-back in the second quarter as central banks poured cash into the economy. But there is great uncertainty about the effects of a second wave of coronavirus. As part of our quarterly report on credit - the Credit Rendezvous - Creditflux spoke to experts across 12 segments of the credit market