How worried should we be about defaults?
As defaults in the US loan market continue to stack up, we investigate the fallout for CLO investors by focusing on the OC tests of double B tranches across 10 years of US CLO vintages

What CLO investors really need to know
From the drivers of CLO performance to cashflow modelling, these are the seven things every CLO equity investor needs to know. This article is an extract from Dealscribe and CLO Research’s guide What CLO Equity Investors Need To Know

Amundi launches impact strategy aiming at agri
European asset manager Amundi has launched an impact investing strategy dubbed Amundi Ambition Agri-Agro Direct Lending Europe, with the intent of preserving natural resources and ensuring food sovereignty.

Capital Four named new sub manager of high yield bond fund
Danish boutique asset manager Capital Four revealed on Tuesday that it will take over sub-management of the Nordea 1 - International High Yield Bond Fund, as the firm continues to build out its investment capabilities in the US

European CLOs win out against US deals
Last month, our analysis explored the performance of US CLOs that were previously reset. We found that they delivered higher distributions than deals which weren’t reset, with the exception of the 2017 and 2018 vintages (Creditflux September 2023 — Do resets help CLOs perform better?). This article expands that analysis to the European market, and compares the performance of US BSL and EU CLO equity tranches.

Point72 hires credit investment veteran for portfolio manager role
The new hire will join the firm's macro business team

Do resets help CLOs perform better?
As the market for CLO resets opens, we look at the performance of deals that were previously reset, and find they soon deliver higher distributions than those deals that were not reset

New Mexico State Investment Council commits $150 million to infra debt fund
The New Mexico sovereign wealth fund approved a $150 million allocation to the Newmarket International Infrastructure Finance Company IV 

Middle-market lender grows with new hires and promotions
Connecticut-based middle market investment firm Ironwood Capital grows team

Loan Highlights 2Q23: Running aground
The global loan market endured a bleak first half of the year, with the overall 1H23 volume falling 28% year-on-year (YoY) to $1.9 trillion, the lowest showing since 2012.

Serone Capital hires PM for European Special Situations Fund
Serone Capital Management has hired new blood in its European special situations division as existing PM Ralph Herrgott moves on

May 2023 European Leveraged Highlights
High yield bond refinancing dominates a weak market according to Debtwire's May 2023 European Leveraged Highlights, featuring key trends in the leveraged loan and high yield bond markets. 

Crédit Agricole appoints head of corporate and leveraged finance
Crédit Agricole CIB has appointed a head of corporate and leveraged finance, effective Thursday

Credit Suisse/UBS deal to create $5 trillion asset manager
The emphasis is set be on wealth and asset management, according to a statement released by UBS in conjunction with its move to acquire Credit Suisse

First Eagle promotes four across syndicated loans and direct lending
First Eagle Alternative Credit has promoted four officials to senior-level roles across its direct lending and syndicated loans businesses

Former Zais CLO portfolio manager joins Sancus
Sancus Capital Management has hired a CLO business development head and portfolio manager from Zais Group

Sound Point holding CLO M&A talks which could catapult it to fifth-largest manager
Sound Point Capital Management is locked in talks with a large, global CLO manager over a deal that could take its CLO AUM north of $36 billion

Experienced CLO investor parts ways with bank treasury desk
A senior triple A CLO investor has parted ways with a treasury desk ahead of a move to another financial institution  

Not every CLO can be a winner
The CLO industry has undeniably performed well enough to justify the plaudits it receives. But there will always be some unloved CLO tranches that slip into triple C territory

Plenty more US CLOs in the CCC as buckets pass 5%, finds S&P
US CLO triple C baskets have nudged to 5.02% in November from 4.4% the prior month

Chenavari strikes gold with senior CLO and ABS trading hire
Chenavari Investment Managers has made a senior hire to its European CLO and ABS trading team

Founder of Alcentra's structured credit business to step down as PM
A long-time CLO tranche investor is set to move away from day-to-day portfolio management duties and take on a new role as senior advisor 

Allspring hires head of US distribution
Allspring Global Investments has hired John Moninger as head of US distribution in a role encompassing retail and institutional sales, platform development, client service and consultant relations.

Oaktree launches global high yield Ucits fund with low-carbon emissions focus
Oaktree has launched a global high yield responsible Ucits fund, which it says will offer investors the “opportunity to gain exposure to the asset class while promoting progress toward a low-carbon economy.”

ArrowMark fills vacancy in London with SRT hire from sell side
ArrowMark Partners has filled a void in its London office after hiring an SRT specialist from Citi