King Street defeats Octagon in heated public dispute over CLO fund
More than two-thirds of shareholders in XA Investments' XFLT fund backed the board's recommendation to replace existing sub-adviser Octagon Credit Investors with King Street subsidiary Rockford Tower

XAI CLO fund shareholder meeting pushed back a week as Octagon denounces delay
A special shareholder meeting that was set to determine the future of Octagon Credit Investors as the sub-adviser to a CLO fund managed by XA Investments (XAI) has been deferred for a week, marking the latest bout in a highly public dispute

Octagon criticises ‘coercive’ use of sweeteners offered to CLO fund shareholders
Shareholders in the XFLT fund have been offered access to a series of tender offers if they vote to oust sub-adviser Octagon, a move described by Octagon as “coercive”

Glass Lewis backs board proposal to remove Octagon on disputed CLO fund
The proxy voting services company is recommending shareholders vote with the board of CLO fund XAI Floating Rate & Alternative Income Trust in replacing sub-advisor Octagon with King Street

Egan-Jones Ratings backs Octagon in CLO fund dispute
Independent proxy advisory firm Egan-Jones Ratings has recommended that XFLT shareholders vote against a proposal to replace Octagon as the CLO fund’s sub-adviser

Octagon accuses XFLT's board of misleading shareholders as row with CLO fund deepens
Octagon Credit Investors has accused the board of a CLO fund for which it is acting as a sub-adviser of misleading shareholders, as a highly public dispute between the credit investing firm and the fund's board continues to escalate

Octagon urges shareholders to vote against approval of new sub-advisor for disputed CLO fund
Octagon has further raised the stakes in its clash with XA Investments over its role as sub-adviser on a disputed CLO fund, having last week described various claims from the fund’s board as “increasingly desperate”

It’s Octagon vs King Street in public battle for a CLO fund
Octagon Credit Investors has urged investors in its XFLT fund not to accept a proposal that will see King Street subsidiary Rockford Tower replace it as the fund’s sub adviser

CLO hiring market heats up ahead of summer break
The CLO hiring market is boiling over – here’s a roundup of the moves we’ve seen over the last couple of weeks

King Street bolsters CLO research ranks with hire from KKR
Alternative asset manager King Street has hired Terry Ing from KKR to head US research for credit and CLOs    

Rockford Tower turns to CBOs in first deal of year
Rockford Tower Capital Management made the transition from regular-way CLOs into bond-heavy deals by pricing its debut transaction on Thursday

Migration into floating rate kicks off with record loan inflows
The leveraged loan market received record-breaking inflows from retail funds in January as investors pivoted into floating rate products in advance of interest rate rises

Rockford Tower prices US CLO triple As inside 117bp
Rockford Tower Capital Management teamed with Bank of America on Thursday to issue its third new CLO of 2021

CLO marketing specialist joins King Street in New York
King Street Capital has hired the head of business development from a large CLO investor

Rockford Tower and Credit Suisse print first CLO as partnership
Rockford Tower Capital Management teamed up with Credit Suisse on Friday for the two firms' first ever new issue CLO as partnership

Supply/demand technical forces CLO spreads to shoot wide
CLO spreads defied positive economic conditions and blew out in March and April. The widening came despite ample liquidity and investors looking to rotate into floating rate assets

CLO pipeline: 15 managers make a final push
15 US CLO managers are in the near term pipeline with just a few days before primary markets close for the holiday season. Among these, nine are aiming to price a new deal while the rest include a reissue, a reset and four refinancings.

CLO pipeline: LCM switches arranger to complete deal and join issuance surge
Over $3.5 billion of global CLO issuance priced last week and managers in all three CLO markets are taking advantage of tightening spreads across the capital structure after three major covid-19 vaccine breakthroughs and increased confidence since the US presidential election

Refis back in the money as Citi brings two 2017 vintage US CLOs
The CLO refinancing market has reawoken, with Citi yesterday pricing two refis of 2017 vintage deals for DoubleLine and Rockford Tower

Rockford Tower and JP Morgan team to price new CLO
Rockford Tower Capital Management priced its second new issue US CLO this year, Rockford Tower CLO 2019-2, according to market sources

King Street returns to US CLO primary market after six month pause
The CLO management arm of King Street Capital Management, Rockford Tower Capital Management has priced its first US CLO in six months named Rockford Tower CLO 2019-1

King Street markets new US CLO via Morgan Stanley
Rockford Tower Capital Management, the CLO management arm of King Street Capital Management, is marketing its seventh new issue CLO via Morgan Stanley

US firms to continue CLO charge in Europe despite risk retention still applying
Europe is expected to welcome an influx of new CLO managers this year, despite the continent being subjected to CLO risk retention

Rockford Tower climbes even higher with new $504.6 million CLO
Rockford Tower, the risk retention platform affiliated with King Street Capital Management, has issued its first new CLO of the year

B-wic round up: investor flips 2018 CLOs without waiting for the closing date
Flipping CLOs is not an unusual trade. But it is when it's done before a transaction has even closed