Growth in structured finance sets off legal merry-go-round
The departure of John Goldfinch from Milbank’s structured finance practice in late 2023 began a succession of moves between law firms looking to expand their structured finance practices

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

Fund performance
In February, CLO funds once again claimed the majority of top positions in our fund ranking — this time taking eight of the top 10 spots (see table below).

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

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.

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

CLO manager raises new captive equity fund
The New York-based alternative asset manager raised a new CLO equity fund with a first close of USD 136m

Fund performance
Good month for CLO funds sees six in top 10 as Axiom sets pace

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.

CLO funds make best of a bad situation
It can’t get any worse can it? Well, it did in 2022, when credit spreads kept moving wider. Still, CLO funds were able to withstand the pressure, and they outperformed other credit strategies

Fund performance: European CLO funds lead the way
February was a positive month for many funds, as only one quarter failed to reach the black. This builds off a stellar start to the year: 96% of funds reached a positive return in January

Fund performance: Credit funds end difficult 2022 on a positive note
In December 66% of credit funds reached a positive return, following an even better November where 81% of all funds pushed into the black

LP round up: 27 managers find the top corner with investor wins
Credit fund managers like to take it one fund at a time and give it 110% for their 90-minute investor fund pitches - and it's working as $3.8 billion was allocated during November and early December. The gaffer would be proud. 

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

San Bernardino pension commits $50 million to CLO fund as part of multi-credit strategic partnership
San Bernardino County Employees’ Retirement Association allocated $50 million to a CLO equity fund, as part of a roughly $240 million multi-credit strategic partnership with the manager

Structured credit gains focus from 75% of UK pensions: Aeon
Three quarters of UK pension schemes say they are increasingly focused on structured credit products

Cairn begins "new chapter" as it rebrands to Polus
Cairn Capital has been renamed Polus Capital Management, which brings it together with Bybrook Capital, the credit asset manager it acquired in 2021.  

Fund performance: Wake us up when September ends
After a resurgent August, credit markets hit a rough patch in September, with every Creditflux index posting negative returns, and only 12.9% of funds in our listings showing a positive return.

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

Fund performance: August provides much-needed relief for CLO funds
.August fund performance