Credit markets ignore geopolitical exposures, suggests Guggenheim
Global credit spreads have spent 2017 tightening, but markets may be ignoring certain risks, according to Anne Walsh, chief investment officer for Guggenheim’s fixed income unit

Investors crystallise gains through liquidations
Refinancings and resets have dominated 2017, but CLO equity investors have found other ways to make strong returns

Fitch rating outlook: CLO spread compression to continue in 2018
Spreads on new broadly syndicated loan (BSL) CLO notes rated AAA down to BBB will be further squeezed in 2018

Engineering and construction: diversification leads to deepening debt
In trying to build a more global roster of clients, some construction companies may have dug a hole for themselves

Inflation is seeping in and leverage is rising like helium
The Fed is keeping close tabs on any signs of inflation in consumer products. But there are signs of an inflationary bubble in the credit market

Bids reach 87 cents for equity in re-issued CSAM CLO
A control equity stake in a 2017 CSAM CLO - which traces its roots back to 2007 -  was up for sale via a b-wic late last month

Private debt performance shines in institutional investing study
A quarter of institutional investors say private debt outperformed their expectations over 12 months to 28 August 2017

BlueBay fund loses over $50 million in 18 months
BlueBay’s Credit Alpha Long Short fund strategy has shrunk by over $50 million since May 2016, Creditflux understands

Changes to the US tax code could negatively impact CLOs
The amendments, which recently passed a vote in the US Senate, could have a negative impact on the CLO industry, according to Moody's

Hedge fund with US and UK offices to shutter following poor performance
The New York-based firm, which invested in a range of strategies including long/short liquid credit, is shutting down and returning all capital to investors

Eagle Point backs manager's comeback deal as it adds $51 million of CLO equity
Eagle Point Credit Company added $50.8 million of CLO equity positions in the quarter ending September, according to an announcement by the publicly listed company yesterday

BDC reports $25.3 million increase in AUM
FS Investment Corporation (FSIC) has cited the “very competitive” nature of the credit market during its third quarter 2017 earnings release

Off-the-run credits help Wasserstein outperform US high yield
Buying discounted US high yield pays off for Wasserstein, which is the top-performing US high yield fund this year

CLO managers return to new issues
The frenetic pace of refis and resets slowed in the third quarter as CLO managers – new and old – turned their attention to building assets

Volatility management boosts Double Haven's Asian credit fund
Hong Kong's Double Haven has outperformed the US high yield market and exhibited less volatility this year through its Asian bond fund

Marathon fund doubles assets in six months
Marathon's Emerging Markets Bond Fund substantially increased its assets between March and September – more than doubling its AUM, according to estimated figures

US CLO round-up: trend-setting managers show 2015 refis are in fashion
The fourth-quarter CLO rush is well and truly in motion with $3.4 billion of CLO paper pricing in the US - and refis of 2015 deals are becoming increasingly important

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

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”