Experienced CSAM holds off boutiques to win biggest prize
Credit Suisse Asset Management became a two-time winner of the Creditflux Manager of the Year award last month after picking up the 2018 trophy in front of a packed house at London’s Landmark Hotel on 9 May

CSAM wins Creditflux Manager of the Year award for a second time
From two guys and a Bloomberg to being named the best manager in the credit industry: Credit Suisse Asset Management wins big at the 2018 Creditflux Manager Awards

CLO performance is faltering – a loans shock would help
Early CLO 2.0s benefited from wide loan spreads. Today, that arbitrage opportunity has closed and returns have gradually diminished – yet there are now similarities to the market in 2007

CLOs aren’t as similar as you might think
Almost 70% of some managers’ portfolios overlap with those of their competitors. But the average overlap is around 35% so there’s plenty of room for managers to express their preferred strategies
 

Tracking down the credit industry’s original winners
All winning managers at the first Creditflux awards survived the crisis, under their own names – like BlackRock – or under new owners. But what happened to the people who collected the trophies?
 

Barings in dispute with CLO equity investor over priority of payments
Barings has gone to court with the equity investor in its 2006 vintage CLO, Duchess VI, over the correct interpretation of the transaction documents

Structured credit specialists seek future-proofing in direct lending
At the turn of the last credit cycle, structured credit recovered spectacularly – but credit managers today seem to be gravitating towards private credit as the area to pick up excess returns in a downturn

CSAM in contention for US and European CLO honours
Credit Suisse Asset Management, CVC Credit Partners, Spire Partners and Sound Point Capital Management are among the CLO managers that have secured multiple finalists positions at this year’s Creditflux Manager Awards

CLO managers give blessing to Morningstar
“Our methodology is extremely transparent and our turnaround is extremely quick" - Morningstar's Brian Grow describes the company's ascension into the CLO market

Join the debate: flippin' heck, you're distorting the CLO market
After our report on a CLO investor flipping 2018 bonds before the deals had even closed, one reader pointed out that this "masks true demand"

Carlyle group's solid Q4 results include $1.7 billion of global credit fundraising
The firm’s fourth quarter global credit fundraising of $1.7 billion included four CLOs, follow-on closes in their new private BDCs, structured credit fund, and managed accounts

Hildene makes huge 2017 gains after wringing every drop from 1.0 CLOs
For the most part, 1.0 CLOs are on their last legs with very few pre-crisis deals outstanding – but one fund manager has made hugely profitable trades in this area

Vintage deals revived as CLO equity investors buy, refi, reset and repeat
US CLOs are being reworked time and again as investors look to reset deals that have previously been refinanced

Managers predict skill will win out
We asked managers to predict the year ahead across a range of credit strategies. Overall, they had a positive outlook. By Grace Jennings-Edquist

Who predicted $145 billion of issuance?
That went better than expected: US risk retention came in, and $145 billion of global new issuance later, it’s clear that CLOs aren’t disappearing. By Tanvi Gupta and Sam Robinson

European CLO round-up: Carlyle and Investcorp share reset record
Much like its counterpart in US, the European CLO market is off to a speedy start with two resets and a refi – generating total volumes of €1.5 billion

Citi finds that triple A investors should look at short-dated CLO resets over refis
Citi's credit research team has put together a report assessing how US CLO triple A tranches are pricing relative to their inherent refinancing risk.

US league tables: CBAM tops US CLO rankings after meteoric rise
Just over a year ago, New York-based CBAM Partners commenced operations amid much fanfare. Fast forward 12 months and the asset manager has delivered on its promise, with Creditflux data showing that the firm was the largest CLO issuer of 2017

Euro league tables: Citi tops rankings in a year of growth for the CLO market
50 new issue CLOs, 39 active managers and four debutants: Creditflux analyses the revival of the European CLO market last year

PDM liquidates CLO funds after 20% per year returns
Permira Debt Managers is liquidating two structured credit funds after generating strong returns

Investors nod through wind up of 1.0 euro CLOs
CLOs may have weathered the storm of the financial crisis far better than other structured products, but the tally of CLO defaults is quietly growing

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

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