Assured completes first CLO since BlueMountain name change
Assured Investment Management has priced a first CLO under its own moniker. The manager, formerly known as BlueMountain Capital Management, announced its change of name earlier this year, following its acquisition by insurer Assured Guaranty

LP round up: Monroe and Angelo Gordon beat 25 for direct lending mandate, as private credit plans brew
US public pension funds have disclosed $1.2 billion in commitments to credit focused strategies

Neuberger Berman prints first new issue US CLO of November as mezz spreads tighten
Neuberger Berman has brought to an end the CLO issuance drought surrounding the US election by printing the market's first new issue of November

Correction: JP Morgan shifts bulk of CLO portfolio to held to maturity
JP Morgan has shifted two thirds of its CLO portfolio to the 'held to maturity' part of its balance sheet, posting $31.15 billion worth of CLO holdings on 30 September of which $20.95 billion were held to maturity

CLO pipeline: New issuance pause ends as managers look to gain from rallying spreads
It is two and a half weeks since the last US CLO new issue priced, but that is set to change and Bridgepoint’s debut European transaction on Friday brought an end to Europe’s own two-and-a-half-week primary break

Global CLO b-wic round-up: Secondary markets rally despite ‘worst liquidity seen all year’
An adjournment in the US for Veterans Day last week still left plenty of time for the CLO secondary market to rally, thanks to Pfizer's covid-19 vaccine breakthrough and a firmer indication of the US presidential election results

Skybridge looks to cut structured credit and distressed debt exposure
SkyBridge Capital, the fund of hedge funds manager run by ex-White House communications director Anthony Scaramucci, is set to curb the structured credit and distressed corporate debt exposure in its SkyBridge G II Fund

US and European CLO PMs earn promotion as Carlyle's Pace takes on new role
Carlyle Group’s global head of liquid credit has decided to take on a new role as vice chair of global credit, according to an internal memo seen by Creditflux, which will involve investing capital across the Carlyle platform

Beneath the triple C: cinemas get clipped but default picture improves
14 corporate debt issuers were downgraded to triple C or below in October by Moody’s or Standard & Poor’s – hurting $3.15 billion of US CLO loans, €761.73 million of European CLO portfolios and $37.95 million of middle market CLOs loans, according to CLO-i. Cinema chains were among those to suffer last month

York executes post-pricing upsize on CLO's floating rate notes
York Capital Management has upsized a US CLO between its pricing and closing dates, mirroring a route taken by PGIM in August

US CLO league tables: JP Morgan nips ahead of Citi as debutants pour in
JP Morgan has surged to the top of new issuance rankings following a busy September and October in which the bank was lead arranger for 10 new CLOs totalling $3.9 billion

Global CLO league tables - October 2020 YTD
Global CLO league tables - October 2020 YTD

LP round up: $2.8 billion flows to credit as Apollo concedes fundraising may slow
Florida Retirement System Trust Fund made the largest commitments allocating $1.6 billion. Apollo meanwhile acknowledged a potential slowdown in fundraising as investors await results on an independent review into CEO Leon Black's relationship with Jeffrey Epstein

Voya adds to double A and single B CLO exposure in Q3
Voya Financial added to its total CLO investments in the third quarter, with a sharp increase in the volume of double A and single B notes on its books, according to the firm's earnings call presentation which was released today

Elements work against CLO managers in Q3
CLO equity distributions fell in Q3 largely due to factors, such as Libor mismatches, that CLO managers can’t control. But these headwinds could turn in favour of managers in the near future

Credit fundraising: Dubai manager gets in on the act as direct lending takes off
Shuaa launches credit fund in the Gulf as Ares, Contingency, HPS and Perceptive are among those to close billion-plus funds

US CLO round-up: 23 managers wait in the wings after avoiding pre-election rush
CLO managers rushed to the primary market last week as they sought to lock in financing before the US presidential elections. This resulted in one of the busiest weeks in the primary market with 10 new issues

Apollo appoints head of credit valuations from sell-side
Apollo has appointed a head of credit valuations, as its previous head of credit valuations has transitioned internally to cover private equity valuations

Global b-wic round-up: Europe drifts wider
The CLO secondary market had a robust week with $860 million of US CLO paper and €315 million worth of European CLO bonds listed. But spreads widened off the back of concerns over lockdowns across the globe, the increased risk of downgrades and tomorrow’s US presidential election

Five-year reinvestment CLOs now market standard after Kayne prices
Kayne Anderson has priced its second CLO post-covid and continued the market's decisive shift towards five year reinvestment periods

Fortress prices first BSL CLO in over a year
Fortress Investment Group has priced its first CLO backed by broadly syndicated loans in over 12 months

Onex prints seniors at 141.6bp in five-year reinvestment CLO
Onex Credit Partners has priced its third US CLO post-covid, and its first with a five-year reinvestment period

Ares holds €6.97 billion first close on European direct lending fund
Ares Management Group has collected $12 billion in gross credit commitments over the third quarter of the year, according to the firm’s earnings presentation, including $8.2 billion for the first closing of its fifth European direct lending fund

York completes first new issue CLO of 2020
York Capital Managemend priced its first new issue CLO of the year on Friday, teaming up with Goldman Sachs on the $387.6 million deal named York CLO-8

CLO Census results: Citi comes out top but several banks make big leaps
Citi has been voted top in five out of the eight primary CLO categories as part of the 2020 Creditflux CLO Census, but BNP Paribas, Goldman Sachs, Jefferies and Natixis are among the banks that have made huge strides compared to last year