GSO aims to place US CLOs in Europe
GSO Capital Partners has launched a manager entity named Blackstone/GSO CLO Management LLC in an effort to sell US CLOs into Europe.

Global CLO b-wic round-up: US CLO equity returns in big way as four control positions hit the market
Over $230 million of US CLO equity went on sale last week via bid lists, the first time these assets have made their way to the secondary market in 2020. It also marks the most US CLO equity listed in a week since at least 2018, according to CLO-i

Global CLO b-wic round-up: junior mezz rebounds with busiest week since June
Secondary market CLO trading has made a busy start to 2020 with $478.6 million of US deals and €103.3 million of European CLOs up for sale last week

'Speciality finance' gains momentum as US investors go deeper into private credit
Institutional investors are continuing to invest in niche, speciality finance strategies - including litigation financing and life sciences - following intense competition and overcrowding in US private credit 

Euro CLO league tables: new issues shatter 2018’s record but total issuance falls
The European CLO market continues to grow at a record shattering pace with 2019 new issuance volumes totalling €29.8 billion, an 8% increase on 2018’s previous record figure, from 53 active managers

Activists sign up to narrowly tailored event protocol
The International Swaps & Derivatives Association has signed up 1,298 parties, including nine reference dealers, to a protocol aimed at preventing narrowly tailored credit events (NTCEs).

New GSO US CLO scores tightest funding costs since early October
GSO Capital Partners has returned to the CLO primary market and produced the tightest new issue for over two months

Global CLO league tables at a glance - November 2019 YTD
Global CLO league tables at a glance - November 2019 YTD

Euro CLO league tables: GSO turbos charges its lead over CVC
GSO Capital Partners kept hold of the lead in the European CLO manager league tables thanks to its turbo charged reset of Holland Park

US CLO league tables: CSAM pulls away from pack
The back and forth tussle between Octagon Credit Investors and Credit Suisse Asset Management for the lead in the US CLO issuance league tables took a new turn in November

CLO pipeline: high triple C bucket opens a Gateway to pricing
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

GSO official to join distressed debt manager Kennedy Lewis
The head of capital markets at GSO Capital Partners, who serves as a portfolio manager, will join distressed debt firm Kennedy Lewis Investment Management as a partner in 2020

European CLO round-up: new look turbos power up junior CLO tranches
Junior CLO debt investors are getting more defensive and this has resulted in the emergence of new-look CLO turbo tranches

GSO adds turbo tranche feature to European CLO as part of reset
GSO Capital Partners has issued a novel single B-rated European CLO tranche that is designed to amortise quickly

Euro CLO league tables: refi market opens up to give KKR best of both worlds
European CLO issuance in October crossed €5 billion for the second month this year as managers took advantage of falling spreads and increased demand. In one example, KKR obtained tight senior CLO financing to go with tight mezz spreads from 2017 in a demonstration of expert timing 

GSO completes 12th CLO transaction of 2019 as junior spreads edge wider
It has been, by the firm's own standards, a slow year for the largest CLO manager globally, but nevertheless GSO Capital Partners has completed 12 transactions in 2019

The ideal home for a loan

Points up front: Talking his book (which is available on Amazon)
For listed asset managers, an earnings call is generally not the right forum to market or advertise upcoming funds. But it might be exactly the right place to try and sell your book.

CBOs aren’t fixated on interest rate moves
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

GSO's third new European CLO of 2019 shows capital stack divergence
Triple A tranche pricing has noticeably improved on European CLOs, but double B and single B pricing not so much

Texas pension awards $150 million to real estate debt fund
Texas County and District Retirement System has awarded $150 million for a global real estate debt fund managed by Blackstone

GSO markets its largest new issue CLO of 2019
GSO Capital Partners is partnering with Goldman Sachs on the manager’s fourth new issue US CLO of 2019 Beechwood Park, according to market sources. 

GSO and Deutsche Bank unite to refinance 2017 European CLO
GSO Capital Partners has teamed up with Deutsche Bank to refinance the triple and double A debt of its 2017 CLO named Palmerston Park

Euro CLO league tables: repricings take centre stage in bumper month as CVC leaps into first
The European CLO market returned with a bang in September as €4.8 billion of issuance priced of which €2.7 billion was in repricings.

Beyond blacklists: the next step in ESG
Credit managers are integrating ESG into their investment processes, but that does not mean they are unable to invest in unethical credits — they can, if they are paid adequately for the risk.