A profitable year for credit funds
An almost 18% rise ensured our CLO fund index was the best performer in 2024. But other credit indices werenʼt far behind as funds across the credit spectrum delivered strong returns

Fortress and Polen print their first new CLOs of the year
Fortress and Polen Capital have priced their first BSL offerings of the year, both via BofA  

Investcorp Credit’s Jeremy Ghose and Tom Shandell set to exit firm
Investcorp has shaken up its leadership team, with Head of Global Credit Jeremy Ghose to step down and Head of Liquid Credit Investments Tom Shandell also set to leave the firm

Napier Park launches and successfully fundraises for captive CLO equity fund
Napier Park has launched its first global CLO captive equity fund and has already raised a sizeable amount

Slow and steady wins the day
It’s often thought CLO managers add value to their deals via high volume trading strategies. The data shows this can be true — but on average, top performing CLOs are less actively traded

Altice France reminds creditors that unrestricted subsidiaries can be freely spun-off
Altice France's debt documents permit the XpFibre spin-off, and most credit agreements and high yield bond indentures permit the distribution of the equity in unrestricted subsidiaries

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

Polus debuts as US CLO manager with first deal pricing
Polus Capital Management has become the first debut US BSL CLO manager of the year after pricing Polus US CLO I 

Taking stock after a long hot summer
As fall approaches, the global CLO and leveraged loan markets are in a strong position. But will records set in 2021 tumble?  We compare the numbers — and find out what the market thinks

Past returns; Points up front
Past returns - PIMCO back and growing; Points up front - Avoiding catching the CLO bug & The bells ring out for public listings

Blackstone reports 18% return from private credit over last 12 months
Blackstone's private credit and liquid credit returns outperform private equity investments in the last 12 months

Pearl Diver to list new CLO equity fund
Pearl Diver is listing a new CLO equity fund on New York Stock Exchange under "PDCC" ticker

Atlas SP joins new CLO arrangers vying for growth as sector booms
Apollo Global Management affiliate Atlas SP has joined the ranks of CLO arrangers, adding to the burgeoning number of new entrants eager to get into the lucrative business

CLO funds maintain strong start to 2024 to stay top year to date
The first quarter of 2024 has been a memorable one for CLO funds, as the category continues its dominant spell, claiming 7 of the top 10 spots in March

CLO round-up: mid-March 2024
Our roundup of all the action half-way through another spectacular month for the CLO market

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.

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.

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.

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

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

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.

Basel III looks likely to further increase banks investment in CLO triple As
Demand for CLO triple As has grown substantially over the past few years as more banking institutions, pension funds, asset managers and insurance companies discover this attractive asset class, which historically has never taken a loss.

Primary market roars into life
The primary CLO market pickup that started in August continued strongly in September, both in Europe and the US. Although the overall direction was the same on both sides of the Atlantic, the type of activity was quite different.