Credit funds at a glance
Fund performance; people hires; fundraising 

CLOs at a glance
Recent CLO primary market activity

Polls close tomorrow for the Creditflux CLO Census 2023
With two days of voting left the seventh instalment of Creditflux’s CLO Census is already the biggest ever with 397 participants

3Q23 YTD CLO rankings
Our latest set of CLO issuance rankings for 2023 showcase the most active CLO arrangers, lawyers and trustees over a challenging nine months

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

Allen & Overy and Shearman & Sterling partners affirm merger
The partnership will help both firms expand internationally while changing the legal landscape

ELFA starts drive for consistent climate reporting in CLOs
The European Leveraged Finance Association (ELFA) has published a new report on CLO carbon and climate disclosures

Despite CLO gloom in Europe and greater take up of private credit in the US, markets on both sides of the Atlantic are similar
I’ve just returned from a trip to London, my first since taking on the mantle of editing Creditflux, and was struck as always by how stubbornly far apart the European and the US markets remain.

European CLOs win out against US deals
Last month, our analysis explored the performance of US CLOs that were previously reset. We found that they delivered higher distributions than deals which weren’t reset, with the exception of the 2017 and 2018 vintages (Creditflux September 2023 — Do resets help CLOs perform better?). This article expands that analysis to the European market, and compares the performance of US BSL and EU CLO equity tranches.

Basel III looks likely to further increase banks investment in CLO triple As
Demand for CLO triple As has grown substantially over the past few years as more banking institutions, pension funds, asset managers and insurance companies discover this attractive asset class, which historically has never taken a loss.

Primary market roars into life
The primary CLO market pickup that started in August continued strongly in September, both in Europe and the US. Although the overall direction was the same on both sides of the Atlantic, the type of activity was quite different.

What do you think?
The Creditflux CLO Census is back for its seventh instalment. Our annual stock-take of the global CLO industry begins on Monday, 2 October — it’s your chance to make your voice heard

Fund performance
Positive August for credit sees CLO funds on top again

Credit funds at a glance
Ucits see red in a tough June for returns

Credit hedge funds
Credit hedge funds performance data

CLOs at a glance
Recent CLO pricings

Securities regulators call for improvement in practices in CLO market
IOSCO, an international policy forum for securities regulators, has called for improvement in practices in both the leveraged loan and CLO markets.

The Italian connection
As Octagon and Conning come under the umbrella of large Italian insurer Generali, we spoke to the firms’ CEOs about their expectations for credit in general and their firms in particular

Credit funds at a glance (September 2023)
A round-up of people moves and fund raising  

Credit hedge fund returns (September 2023)
Credit hedge fund returns  

CLO funds are hot in summer as they take nine spots in top 10 (Fund performance)
CLO funds took the lead through summer as the returns of the category index reached 1.88% and 3.18% in June and July, respectively. Both months saw a CLO fund as the top performer — Sound Point Meridian in June, and Oxford Gate Master Fund in July.

Big banks see small changes in CLO holdings — but that may change in third quarter
The major bank buyers of CLO triple A notes saw limited change in their holdings during the second quarter, according to their latest financial statements