CLOs at a glance
A round-up of CLO performance

Global CLO b-wic round-up: US and European double B trading patterns diverge
48% of the CLO secondary market was made up of triple A bonds; $255.6 million of US CLOs and €108.55 million of European CLOs. But there were differences in how CLO double Bs are trading in those markets.

Wells Fargo AM makes big credit hire to co-head its private strategies team
Wells Fargo Asset Management has appointed Vincent Lu to co-head the firm’s private strategies, according to an internal memo seen by Creditflux

Market rallies as key CLO investor retreats

CLO pipeline: CSAM and Octagon look to move further ahead of the chasing pack
The CLO pipeline in all three markets looks similar to last week with a reduction of only around $500 million in predicted new issue volumes in each of the US, European and mid market CLO spaces. But all three of these market segments look healthy with new issues and refinancings being favoured by managers

GSO adds $10 billion to inflows with direct lending, structured credit and energy
Blackstone grew its credit assets under management to $139.3 billion, up 13% on a year ago, according to the firm's second quarter earnings release

Global CLO round-up: it's time to rethink benchmarks
The CLO market broke out of holiday mode last week by presenting strong issuance on both sides of the Atlantic - $2.8 billion in the US and €1.6 billion in Europe. High volumes have brought with them bigger shifts in market dynamics. This week put the focus on tightening spreads, as benchmark triple A levels dipped.

New kids on the block dominate awards

Spotlighting the original originator
Five years ago in Creditflux, we reported on the very first CLO originator fund being launched: Blackstone/GSO Corporate Funding.

Ohio pension backs GSO's upcoming European direct lending fund
Ohio Police & Fire Pension Fund (OP&F) has approved a $50 million commitment to GSO European Debt Fund II

Global b-wic round-up: US CLO equity continues its surge
Last week marked the third straight week that the US CLO secondary market has seen total listings of under $600 million, but over a quarter of that was equity.

Spire wins Creditflux Manager of the Year award
Spire Partners was the big winner at Creditflux's Manager Awards last night as the London-based manager scooped the award for the manager of the year. On top of this, the firm picked up awards for Best European CLO Manager and Best European CLO for Aurium CLO II

CLOs at a glance
A round-up of CLO performance

Two CLO investors leave GSO in London
Two experienced CLO investors have parted ways with GSO Capital Partners in the last few weeks

CLO pipeline: managers seek to return as others arrive, after testing Q1
With the first quarter of 2019 now in the books, the CLO market looks to be continuing where it left off.

Isda tables plans to rid CDS market of narrowly tailored credit events
After lengthy deliberation, a working group of major firms is today set to publish proposals aimed at ridding the market of ‘narrowly tailored credit events’, whereby borrowers are persuaded to default on debt payments in order to trigger pay-outs for CDS holders

Keep calm and buy corporate loans
Calm heads prevailed in 2018. Markets were volatile and risk retention was supposed to cause problems, but there was no need to panic and volumes went on to break records set in 2014

Performing credit tops distressed credit for Blackstone, but credit AUM declines
The firm is looking to boost its direct lending business to gain $10 billion of available capital over the next couple of years

The financial crisis was the making of ’em
Some of the largest and best performing CLO managers before the crisis were fairly nimble by today’s standards — but these 1.0 outperformers are now among the biggest names in the industry

The financial crisis was the making of 'em
Some of the largest and best performing CLO managers before the crisis were fairly nimble by today's standards - but these 1.0 outperformers are now among the biggest names in the industry. 

GSO co-founder plans new credit business
GSO Capital Partners co-founder Tripp Smith is launching his own credit management firm, according to a report by Bloomberg

Blackstone builds on multi-asset approach with fifth fund
The new vehicle will invest directly into Blackstone deals across its alternatives platform

Blackstone grows credit assets by 31% over year
The firm achieved strong fundraising in credit, taking credit-related assets under managment to $130.6 billion in the third quarter, a 31% increase year-on-year 

Global CLO round-up: buttermilk-shakes things up as CLO spreads go everywhere
Ahead of the US Labor Day weekend, CLO issuers have been grafting away with $6.5 billion pricing across the US market through 11 deals