Blackstone hires Laura Coady from Jefferies to head CLO business
The alternative asset manager has poached Jefferies's top CLO banker to become its global head of CLOs and head its European liquid credit strategies

News in brief
Blackstone plays offense amid volatility

Private credit’s golden era never really ended – Blackstone’s Michael Zawadzki
On the Credit Exchange podcast, Lisa Lee speaks with the CIO of Blackstone Credit and Insurance about opportunities in volatile markets and the durability of private credit premiums

CLO market turns to print-and-sprint deals as volatility spikes
EXCLUSIVE: Napier Park, TP Birch Grove, and BlackRock attempt print-and-sprint deals as the maths gets tougher; AGL and Blackstone pull off deals

Tariffs will increase defaults – Blackstone
The alternative asset management giant also said the private credit market is providing financing that previously would not have been available in times of dislocation like this

Long-term CLO investments require strong distributions, healthy equity NAVs, and an extended life

Blackstone buys billion dollar infra loan portfolio
Blackstone Credit & Insurance-managed funds agreed to acquire interests in a USD 1bn portfolio of global infrastructure loans from Santander

Blackstone makes two senior hires for infra lending and asset-based credit
Blackstone has hired two senior managing directors to focus on infrastructure and asset-based lending as members of the greater BXCI team

Blackstone’s head of liquid credit Rob Zable set to leave firm
One of the biggest names in the CLO world is making a change, with Rob Zable leaving Blackstone by the end of the year

CLO market wrangles over direction of liability spreads after August volatility
Investors are seeking to get wider spreads on CLO primary deals, but Blackstone and other managers are trying to keep firm on US triple-As at 135bps

Blackstone reports 18% return from private credit over last 12 months
Blackstone's private credit and liquid credit returns outperform private equity investments in the last 12 months

Funds round up: private credit reaches for retail
A number of new credit funds launched last month to round out 2024's first quarter, including ones in Europe aimed at retail investors

CLO rankings: 2023 turns out OK
Last year may not have seen records in the primary CLO market, but it was a very solid performer with a strong finish. 

Blackstone is back as the largest CLO manager in the world: 2023 manager rankings by AUM
Our full-year 2023 rankings for CLO managers by total CLO AUM are out, with Blackstone moving into top place.

3Q23 manager rankings by AUM
Carlyle Group is now the largest CLO manager in the world, according to the latest update to our rankings of the CLO manager universe published today

Blackstone rethinks captive equity strategy
Blackstone has announced proposals to wind down its existing risk retention vehicle, Blackstone Loan Financing Limited (BGLF).

CLO rankings: manager AUM, advisory firm and trustees Q1 2023
Two acquisitions close to shake up the top and Dechert takes early lead over Milbank in manager counsel rankings

Board aims to grant Blackstone fund ability to invest directly in primary CLOs
The board of publicly traded fund Blackstone Loan Financing is proposing to amend its investment policy to allow it to directly invest in primary CLO opportunities, following the results of its shareholder consultation announced today.  Changes to NAV valuation methodology alongside various potential exit opportunities was also discussed.

Global 2022 CLO league tables
Global 2022 CLO league tables

CLO rankings: manager AUM, advisory firm and trustees Q4 2022
As 2022 draws to a close manager consolidation through mergers and acquisitions have been balanced out by new market entrants to leave roughly the same number of managers that entered the year, at least for now.

Beneath the triple C: Winter is coming for CLOs as downgrades outstrip upgrades
Both US and European issuers have felt downward pressure from the rating agencies as we head towards the end of the year, with downgrades to triple C now firmly outpacing upgrades out of it.

Major fund withdrawals undermine credit momentum
Credit funds are extending their run of inflows into the end of the year, but investment grade momentum took a dent last week due to investors in one big fund pulling their money

Global CLO league tables - November 2022 YTD
Global CLO league tables - November 2022 YTD

Global CLO league tables - October 2022 YTD
Global CLO league tables - October 2022 YTD

Credit funds at a glance (November 2022)
A round up of fundraising and people moves in credit