Wave of legal hires becomes a tsunami
In February alone legal heavyweights Allen & Overy, DLA Piper, Fried Frank, Kirkland & Ellis, Proskauer Rose and White & Case all announced the arrival of partners in the credit space

A strong year for CLO strategies
After the pain of 2022, credit fund managers must have been praying that 2023 turned out better. It did.

UK-based manager looks to restart European infra CLO market
RM Funds, an Edinburgh-based infrastructure debt investor, is looking to launch the first European infrastructure CLO since 2008

CVC reissues structured financing facility as a full European CLO
The beginning of February saw something unusual in the CLO market – a reissue of the CVC Cordatus Opportunity Loan Fund, undertaken by CVC Credit Partners.

European triple As drop below 150 as KKR prices new CLO
The somewhat limp activity in the European primary market so far in 2024 was given a kick along on Friday with the pricing of Avoca CLO XXIX, a new EUR 402.85m BSL CLO from KKR

What CLO investors really need to know
From the drivers of CLO performance to cashflow modelling, these are the seven things every CLO equity investor needs to know. This article is an extract from Dealscribe and CLO Research’s guide What CLO Equity Investors Need To Know

Fund performance
Q4 has kicked off with structured finance funds leading the way in the Creditflux league tables, as the category index reached 0.61%, and all but one fund made positive returns.

Polus prices new European CLO
London-based Polus Capital Management priced its latest European CLO on Friday, its second deal of the year and 18th CLO in total, after recently securing committed capital for continued issuance in the region

CLO market round-up: 27 Nov - 1 Dec
After a busy Thanksgiving week, CLO pricing activity was substantially quieter last week, with only a handful of deals in the market.

Hayfin prices short-dated CLO
After a quiet year in the primary market Hayfin Capital Management returned last week with a short-dated European CLO

Investcorp prices second European CLO this year
Following up its first primary market activity in over a year in July, Investcorp Credit Management has returned to the market with a second new European deal, Harvest CLO XXXI

ABS rallies on better-than-expected inflation prints
The European ABS market has rallied over the last two days on news of rapidly falling inflation in both the US and the UK

Setting standards for emissions data
Macroeconomic trends may have pushed the topic of ESG reporting down the news agenda this year, but this is changing with a raft of new regulations in countries around the world

The wall is coming down
Refis and extensions have greatly reduced the height of the maturity wall looming over European CLOs in the near term — but, further out, WAL test cushions remain critical

CLO Census: It’s time to put the shop in order
After a lacklustre year for the CLO market, the 539 respondents to our comprehensive survey are increasingly calling for structural changes, from electronic trading to standardised documents

Europe greets new CLO manager
The latest debut manager has joined the European CLO market thanks to a new deal arranged by Bank of America

JP Morgan makes it eleven for Palmer Square
Hot on the heels of its fourth European CLO pricing earlier in October, Palmer Square priced its fifth European CLO of 2023 on the last day of the month

Axa ups the tempo for second European CLO reset this year
Europe saw its second CLO reset of the year last week as the 2022 vintage Adagio X was reset by Barclays

European secondary activity quieter as CLO spreads widen further
Activity in the secondary market was quieter for a second week, especially with half-term holidays in the UK, according to market sources

Permira returns with second European CLO this year
Permira Credit has priced its second new European CLO this year in a deal arranged by Jefferies 

Structured finance secondary market quiets down as volatility intensifies
Secondary market activity in European structured finance was subdued this week, in the wake of further market volatility sparked by the Israel-Hamas war

Man GLG returns to Europe with short-dated CLO
Man Group has returned to the European CLO market with the pricing of its first new deal since 2020 

European CLO reset market opens for business
The first European CLO reset of the year happened this week in a EUR 400m transaction arranged by Deutsche Bank 

Invesco adds third European CLO this year to its tally
Invesco Euro CLO XI DAC was arranged by Goldman Sachs in a EUR 400m transaction

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.