It's All Relative: CQS, Capital Four and Tikehau look for CLO breakthrough as debutant premiums drop
The number of US CLO issuers in 2021 could be about to reach 106 with Capital Four, CQS and Tikehau looking to price debut deals, with price talk set at ambitious levels

CLO managers join forces as they line up behind SFDR
A plethora of European CLO managers have teamed up with regulatory reporting provider FinDox to form a working group focused on Sustainable Financial Disclosure Regulation (SFDR), sources tell Creditflux.

The Last Tranche with Capital Four: 26% of new European loans have an ESG-linked margin ratchet, and the US could follow fast
In this episode of the Last Tranche, Capital Four's Torben Skødeberg and Jim Wiant discuss the emergence of loans linked to environmental, social and governance (ESG) criteria

Fund performance: CLOs lead but variety is the spice of life
.An assortment of funds have made their mark in August as five different strategies make it into our top 10 for the month

CLO triple As hit 102bp again as Capital Four becomes 42nd manager to print European CLO
Capital Four has become the 42^nd manager to price a new issue European CLO this year after partnering with Bank of America to produce Capital Four CLO III

Credit funds at a glance (August 2021)
A round up of fundraising and people moves in credit

Woah, we’re halfway there
Judging by the 2020 vintage, European CLO overlap is 50%. But varied approaches to holding bonds and the many loans managers turn down mean there are ways for issuers to outperform

Capital Four hires in private debt team
Capital Four has hired a director in the private debt structuring and origination team

Two credit managers open offices in Germany
Two asset managers have bolstered their presence in Germany by opening offices in the country

Credit funds at a glance (April 2021)
A round-up of fundraising and people moves

MidOcean CLO PM joins European credit manager to lead US expansion
Former MidOcean Credit CLO portfolio manager Jim Wiant has joined a Copenhagen-headquartered manager to lead the firm's US expansion

Axa IM leads as ESG grows in European CLO industry
European CLOs are increasingly launching with express ESG mandates embedded as issuers seek to get ahead of what appears to be an inevitable shift towards ethical investing

Credit Rendezvous: heading for homes
Fund managers in structured credit, real assets and distressed are bullish on the prospects for residential housing in 2021. Elsewhere, niche royalty-based strategies are in favour and although a CLO repricing wave is expected, it may not be easy to execute resets. For more, read our 13-page quarterly report on credit. 

Capital Four prices second European CLO with triple As at 105bp
Capital Four priced its second ever European CLO today named Capital Four CLO II. Barclays arranged the €356.2 million transaction

Capital Four markets four-year European CLO
Capital Four is marketing its second European CLO, just over a year after making its debut in CLO management

Capital Four holds first close on senior European direct lending fund
Capital Four has held a first close on its European direct lending fund, Private Debt III 

Europe’s newcomers find ways to stand out
Last year’s new European CLO managers needed to provide something different for investors. In general, they’ve succeeded, with Capital Four having one of the smallest overlap figures in our data

Capital Four launches two CLO funds
Capital Four Management has plans to launch two structured credit funds focused on CLOs  that aim to capitalise on dislocation at both ends of the CLO capital stack, sources say

Europe’s newcomers find ways to stand out
Last year’s new European CLO managers needed to provide something different for investors. In general, they’ve succeeded, with Capital Four having one of the smallest overlap figures in our data

Dispersion tests hedge fund managers

Euro CLO league tables: new issues shatter 2018’s record but total issuance falls
The European CLO market continues to grow at a record shattering pace with 2019 new issuance volumes totalling €29.8 billion, an 8% increase on 2018’s previous record figure, from 53 active managers

Capital Four makes CLO market entry with debut transaction
Capital Four Management priced its inaugural CLO this morning, becoming Europe’s eighth debut manager of 2019

Capital Four upsizes debut CLO, but capital stack diverges
Triple-A pricing and that of more junior tranches is on a path of divergence, as evidenced by the marketing of debut CLO manager Capital Four Management

CLO pipeline: Sculptor begins to mould its first CBO
Silence! Artist at work: Sculptor has got its apron on and is shaping up to launch its first CBO

CLO pipeline: Capital time to debut in Europe as liability spreads drop
CLO managers are showing no signs of slowing down, as a further 16 US and five European new issue CLOs, including Capital Four's CLO management debut, appear in the pipeline