JPMorgan Commercial Bank taps new head of syndicated finance
The new head previously worked as head of Northeast and Canada regional leveraged finance in the global investment banking group

CLO fundraising round-up - November 2024
CLO funds have had a stand-out year, and both fundraising and fund returns have soared, with managers out in the market with both third-party and captive CLO funds

Beach Point ramps up fundraise for captive CLO equity fund
Santa Monica, California-based Beach Point Capital Management is looking to raise a captive equity fund to support its CLO issuance

Sycamore Tree raises more than USD 100m for CLO tranche strategy
Sycamore Tree Capital Partners has raised more than USD 170m across two separate debt funds, include USD 100.5m for CLO debt

New Mountain prices second quasi-CLO
New Mountain priced a second rated feeder fund last week, a deal that straddles the line between the simpler traditional rated feeder fund structures and middle market CLOs

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

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

Sound Point becomes 5th largest CLO manager as Assured deal completes
Sound Point announced the completion of its partnership with Assured Guaranty yesterday jumping Sound Point into position as 5th largest CLO manager in the world.

Euro CLOs have better 2023 entry point than US in $140 billion issuance year: Barclays
CLO performance and issuance may have to wait until the second half of next year for improvement, say Barclays credit strategists in a 2023 outlook piece. But Europe could fare better than the US given starting levels in a year the market faces some challenging regulatory hurdles

Schroders hires COO for securitised products and CLO investments team
Schroders Capital has made a senior hire from Lloyds Bank to the newly-created role of chief operating officer of its global securitised credit team

CQS returns to Euro market with first new CLO since 2015
CQS has priced its first European CLO in seven and a half years, opting for a short reinvestment and non-call period

Fortress goes for longer tenor as CLO spreads widen
Fortress Investment Group has priced a new US CLO with a four-year reinvestment period and pricing at the wider end of recent issues

Widening asset/liability gulf will hurt CLOs: Barclays
A mismatch between CLO asset / liability rate risk is increasing in the US as more leveraged loan issuers opt for one-month pay frequency, Barclays credit strategists have found

CLO official takes top role as Onex announces new credit leadership
Onex Credit Partners has announced a new leadership structure with two co-heads of credit replacing the CEO that left late last year. One of the promotions is an experienced CLO official 

CLO managers added to their pool of analysts last year: Fitch
CLO asset managers staffed up last year as primary issuance volume soared, with Fitch Ratings finding the average analyst team size increased from 16 to 17

Oaktree prints new US CLO while Deerpath resets mid-market deal
The US CLO market has added to its June transaction tally, with Oaktree Capital pricing a new issue while Deerpath Capital Management reset a 2018 vintage mid-market deal

CRE CLO episode shines light on CLO get-out clauses
Market disruption clauses are rare in CLO warehouse agreements, but litigation surrounding a cancelled 2020 CRE CLO underlines how these can give CLO issuers added flexibility in a doomsday scenario

Anchorage leapfrogs up CLO league table with first bond-flex deal of year
Anchorage Capital moves back into the top 20 US CLO managers in 2022 by volume, having priced its first bond-flex deal of the year

Morgan Stanley EV resets post-Assurant CLO with tighter stack
Morgan Stanley Eaton Vance CLO Manager has completed a $416 million CLO reset, its second in under a month

RBC securitised products sales director departs for new firm Panagram
A Royal Bank of Canada securitised products sales director has left to join new investment firm Panagram Structured Asset Management in New York

Investcorp looks at M&A for US CLO growth: Bloomberg
Investcorp Credit Management’s co-head of US credit David Moffitt has outlined plans to double the firm's US CLO assets under management – which include acquisitions and equity partnerships

Eldridge spins out structured credit investment team into new firm
Eldridge Industries’ $13.5 billion structured credit investment team is spinning out into a new firm named Panagram Structured Asset Management

MidOcean employs rare tranche structure with 2016 US CLO reset
MidOcean Credit Fund Management has reset a 2016 vintage US CLO via Jefferies, upping the deal size slightly and shaving its funding costs in an unusual reconfiguration of tranches

Creditflux announces finalists for Manager of the Year award
Ahead of the virtual awards ceremony on 15 July Creditflux is thrilled to announce the four finalists for the prestigious Manager of the Year category.

ABS market holds strong as talf date approaches
The US Federal Reserve announced last week that the term ABS loan facility's first subscription date for loans backed by eligible asset-backed securities (ABS) will be 17 June, but before the Fed has even spent a dollar, talf has already been a success, says Tom Sweeney, co-head of structured credit finance at DWS Asset Management.