Global CLO legal counsel rankings – 1Q 2026
Milbank and Paul Hastings topped Creditflux’s global CLO manager and arranger legal counsel rankings for the first quarter of 2026. But the spotlight is on Orrick – following its dramatic sweep on Cadwalader’s global finance practice last October, the firm has moved up to second place in the global standings

Oaktree prices US and European CLOs in single day

Oaktree priced two CLOs to close out last week – a new European issue titled Arbour CLO XVI via Citi, and a reset of a 2024-vintage US BSL transaction through SMBC Nikko

Two more lawyers leave Cadwalader for Orrick
Orrick has added another two former Cadwalader lawyers to its growing structured finance team in London

ICG’s head of US liquid credit says Iran war will cause pain for consumers, housing
PODCAST: Consumer-related aspects of the economy – ranging from housing and travel to apparel and retail – are already “feeling a decent amount of pain”, and the trend is expected to continue, according to ICG's David Saitowitz, speaking on the latest episode of the Credit Exchange podcast with Lisa Lee

AI disruption fears and Middle East-driven macro volatility weigh on loan and bond issuance – 1Q26 LevFin Highlights
LevFin issuance across the US and European institutional loan and high-yield bond markets saw a strong start to the year before fears of artificial intelligence (AI) disruption and escalating macro volatility stemming from the US and Israel war with Iran weighed on market activity

Bain closes third CLO captive equity fund
EXCLUSIVE: The fund, which primarily targets majority equity investments in the firm’s US and European CLOs and warehouses, is valued at around USD 1.5bn, the firm’s global head of credit John Wright told Creditflux

CLO equity price decline represents compelling buying opportunity — CIFC
Over the next 12 to 24 months, CLO equity could generate returns comparable to those seen in 2023-2024, CIFC believes

Global issuance falls 22% QoQ and 12% YoY amid tech selloff and geopolitical insecurity – 1Q26 Loan Highlights
Loan issuance in the Americas, EMEA and Asia-Pacific (APAC) regions reached USD 1.37tn in 1Q26, according to Debtwire data; this volume was 22% down compared to the previous quarter and 12% below 1Q25

Sailing on in high seas
The first quarter of 2026 will go down as one of the most turbulent periods for financial markets

Private credit in the crosshairs: stick to the plan or relax rules?
The private credit industry has faced a test of nerves in recent months as a swarm of investors rushed for the exits only to find their off-ramp blocked. As the pressure builds, credit managers are asking themselves whether they should stick to the advertised redemption rules for their vehicles, or lift the barricade to let skittish investors exit with their money

Investors seek safe havens as volatility rocks CLO ETFs
CLO ETF managers are seeing a flight to quality as investors react to recent market volatility by pulling funds from mezzanine tranches and investing more heavily in triple As

CLO managers brace for software loan maturity wall
Underperforming software loans that will mature in 2028 are causing sleepless nights for CLO managers

News in brief
Top stories on creditflux.com: spreads widen and outflows increase as war hits credit

BSL volatility could create opportunities to deploy capital at attractive levels
A liquidity crunch in private credit will hit BSL CLOs — but there may be an upside for disciplined managers

Fund performance – April 2026
CLO funds struggle with worst performance in more than three years

Credit funds at a glance – April 2026
Our roundup of top performers, fundraising and moves in credit

Credit hedge funds – April 2026
Credit hedge fund performance

CLOs at a glance – April 2026
Our list of recent CLO pricings globally

Outstanding performers – Creditflux announces 2026 CLO Awards finalists
This is our list of the best US and European CLOs, CLO funds and CLO managers. Winners will be announced at the 18th Creditflux awards, at the Chancery Rosewood in London on 21 April

CLO Symposium 2026
The Creditflux CLO Symposium will be held at the The Chancery Rosewood, London on 20-21 April 2026

M&A volume leap 20% to USD 1.38tn in first quarter of 2026
Even the Iran conflict has not arrested momentum among larger deals. A mammoth USD 122bn capital raise from OpenAI closed on the last day of the quarter, according to Mergermarket data

Hayfin co-head of direct lending says European private credit better geared to weather uncertainty than US
PODCAST: European private credit is less exposed to software as well as retail withdrawals, making them better positioned than their US counterparts to weather uncertainty, says Marc Chowrimootoo, co-head of direct lending at alternative asset manager Hayfin, on the latest episode of the Credit Exchange podcast with Lisa Lee

European direct lending opportunity grows as US faces headwinds—AlbaCore
EXCLUSIVE: Outflows from select US direct lending vehicles could result in European direct lending spreads, particularly on larger deals, widening even further, Luke Gillam, head of senior direct lending, told Creditflux

AI blockbuster deals surge as Middle East conflict test dealmaker confidence
Mergermarkets M&A Highlights 1Q26: Global M&A volume jumped 22% to the second highest start ever