Halcyon prices its second CLO transaction in two days
Fresh from launching a new CLO with BNP Paribas this week, Halcyon has turned its attention towards refinancing a 2015 deal

Finding horizontal and vertical angles
2017 CLOs where managers hold a vertical strip have higher spread portfolios and higher leverage than those with a horizontal risk retention investment. By Tanvi Gupta

Golub's mid-market deals dominate US CLO performance ranking
Mid-market CLOs dominate our rankings of the best performing US CLOs in August with three deals from Golub Capital Partners featuring in our top 10

2017 PGIM deal tops ranking of best-performing European CLOs
A PGIM-managed 2017 deal, Dryden 48 Euro CLO, made its first equity distribution in August, with the €6 million payment pushing the deal to the top of our CLO performance rankings for the month

Axa unwinds short-maturity CLO fund as 1.0 universe dwindles
Axa Investment Managers has recently wound down a fund designed to take advantage of a short-term opportunity in ageing CLO debt tranches

Marathon leads the pack to top US CLO performance tables
Recently refinanced CLOs top our ranking of the deals with the highest equity distributions over the last week with Marathon Asset Management leading the way

CLO manager shares details of vertical strip finance pricing
Vertical strips with some third-party financing have been perhaps the most popular way for CLO managers to tackle risk retention rules. One manager has disclosed details on just how much this financing costs

Apollo notches up 100% CLO refi/reset record
It’s not easy being a large CLO manager and staying on top of the refi-reset market, but Apollo has managed to do just that

Join the debate: CLO ramp-up failings
“There is one manager out there that has got away with this behaviour for several years. The ‘fight back’ from investors is overdue”

EM local currency boosts Brandywine hedge fund
A switch to emerging markets has proved profitable for Brandywine

CLO boom encourages new ideas
Volumes are up, spreads are down and risk retention is a doddle. That must mean it’s time to push the boat out and innovate

Spotlight: Local exchange carriers - calling for rescue on the M&A hotline
Growth-starved US phone companies are seeing consolidation as the best way to improve performance

Leading fund: Lupus Alpha CLO Opportunity Notes I
Single-B CLO trades boost Lupus Alpha asset Management

German direct lending will grow for two decades
Patrimonium’s Daniel Heine takes our credit quiz

CSAM scores rare double-digit final return for pre-crisis euro CLO
Credit Suisse Asset Management yesterday completed its first redemption of a European CLO, a rare deal that has made uninterrupted distributions to equity since before the crisis

New credit fund manager Caius posts 20%-plus returns for 2017
Recently launched credit fund manager Caius Capital has put in spectacular returns so far in 2017, according to investor sources

Debtwire ABS round-up: euro RMBS spreads reach new tights
Spreads have been tightening across the structured credit market; a weekly round-up by Debtwire highlights how an RMBS deal, Residential Mortgage Securities 30, priced at the tightest levels since the financial crisis

CLO buckets come good for unpopular CLOs-squared
A recently redeemed Highland CLO shows that CLO squareds have performed well despite the ratings volatility suffered by CLOs following the financial crisis.    

CLO investor trades out of low-coupon Ares triple As
A $30 million slice of the triple-A tranche of Ares XXVI was sold on Friday with market sources claiming that the stake sold above par with a cover of 100.05

Global raters dodged a bullet from the “Catalan Madoff”
At least one global rating agency dodged a bullet by declining to rate a Spanish fund backed by small and mid-market loans that is now being put into liquidation

Investors call time on Investcorp's 2006 European CLO
Investcorp Credit Management has redeemed the third European CLO the team launched when they were part of Mizuho in April 2006

Scio liquidates structured credit fund after posting 11.5% returns
London-based structured credit specialist manager Scio Capital has announced that is liquidating one of its funds and returning capital to investors

CLO round-up: volumes spike as secondary market bursts into life
Junior CLO spreads are tightening in the secondary market amid an uptick in volumes. The primary market has not been slow this week either as CBAM launches a $1.25 billion and three other CLOs price on Friday

Zais CLO equity attracts high price in secondary market
An investor, who had seen a Zais CLO return 100% of capital through equity distributions alone, has sold the top-performing CLO's equity notes