Experienced CLO specialist joins Pretium
Pretium Partners moved into CLO management a year ago and now has $2 billion in AUM in this space thanks to a couple of acquisitions. It has now hired a portfolio manager to deal with the additional AUM

European loan portfolio manager parts ways with CQS
A European leveraged loan portfolio manager at London-based CQS  has left the firm, Creditflux has learned

European CLO PM rumoured to be joining CIFC from large asset manager
CIFC Asset Management looks to have made a major breakthrough in its bid to establish a European credit business with the $17 billion asset manager rumoured to be hiring the head of European performing credit at a large global credit firm

Investors debate merits of bond buckets as regulators revisit Volcker rule
CLOs with bond buckets could return in the US as federal agencies have signalled their willingness to roll back certain parts of the Volcker rule

Growth in UK loan issuance sparks sterling CLO revival
Strong sterling denominated leveraged loan issuance relative to euro issuance in western Europe has inspired securitisers to launch CLOs in the British currency

Investors fight to stop assets being pulled into black holes
US loan investors are fighting back against terms which they believe are effectively turning supposedly senior secured loans into unsecured agreements

Neuberger's Dyal acquires minority stake in HPS
Dyal Partners, a division of Neuberger Berman, has acquired a minority equity stake in global credit manager HPS Investment Partners

Sound Point and American Beacon team up for credit interval fund
American Beacon Sound Point Enhanced Income Fund will invest in a variety of credit-related instruments - with at least 40% bank loans exposure

Tikehau poaches Commerzbank leveraged loan trader
Tikehau Capital has appointed a secondary loan trader in its London-based CLO and leveraged loan fund team

The expanding middle
Our analysis of mid market CLOs reveals that managers have distinguished themselves with the overlap between mid market US CLO portfolios being approximately 5%

BlackRock seeks $1 billion for new multi-strat opportunities fund
The new trust will invest at least 80% of its assets in fixed income securities and up to 40% in special situations, SEC filings reveal 

Former ICG CLO portfolio manager takes on CIO role at MeDirect
The former co-head of European leveraged loans at Intermediate Capital Group, Michael Curtis, has resurfaced at MeDirect (formerly known as Mediterranean Bank)

European CLO manager diversification is increasing, conference hears
European CLO managers have begun to pursue an active management strategy, says IMN panel

Leveraged finance veteran leaves Mizuho in London after 22 years
The head of international acquisition finance at Mizuho, Paul Carman, has left the bank to bring to an end a 22-year affiliation with Mizuho

Flat Rock prepares $100 million CLO equity-focused fund after big hire
Flat Rock will launch the new interval fund to primarily invest in CLO equity, with newly hired anchor CLO investor Shiloh Bates acting as one of the portfolio managers

Portfolio manager central to European CLO expansion to leave Neuberger
One of the key figures behind the launch of Neuberger Berman’s European CLO business is set to leave the firm

Spire moves into CLO investing with new credit fund
European corporate credit specialist Spire Partners has raised roughly €100 million for a multi-strategy fund that will have the ability to invest in CLOs

Credit interval funds thrive as investors value liquidity profile
“The interval fund structure’s time has come," says BlueBay's Blair Reid

Term structure is being developed for floating rate benchmark SOFR, says LSTA
The Secured Overnight Financing Rate, known as SOFR, is being developed into a term structure

There are no perfect hedges for CLOs
As the CLO market gets hotter and hotter, investors are seeking hedges against the inevitable downturn. But although there are a wide range of options, there is no consensus on which is best
 

CLO debt investors resist equity investor push for Libor toggle
“If spreads weren’t collapsing we wouldn’t be hearing about this," says PGIM's Edwin Wilches

Experienced CSAM holds off boutiques to win biggest prize
Credit Suisse Asset Management became a two-time winner of the Creditflux Manager of the Year award last month after picking up the 2018 trophy in front of a packed house at London’s Landmark Hotel on 9 May

2018 US CLOs are highly ramped at closing, but this could decline, says Fitch
New US CLO portfolios at closing have been ramped by over 83% on average every month this year, according to research from Fitch Ratings

Highland merges funds to create new loan/CLO strategy
Highland Capital Management has merged certain funds to create a new strategy that will invest across corporate loans and CLOs, according to market sources