Software sell-off leads to improved CLO equity arb – BNPP
BNP Paribas is currently bullish on H2 2024 CLO equity in the US, largely due to its low NAV and low software exposure

Former Ares CLO leader Boris Okuliar joins Corinthia
London-based Okuliar is now Corinthia’s chief strategy officer and head of global diversified credit, signalling the private credit firm’s expansion into public credit

CLO equity payments decline for US and Europe
Reinvesting US BSL CLOs saw median equity payments slip 16bps from the fourth quarter of 2025

Ares plans to raise a USD 6.6bn alternative credit fund in just six months
The alternative asset manager also said on its fourth quarter earnings call that it is preparing a final close for its latest opportunistic credit fund

Global CLO law firm rankings – FY 2025
Milbank and Paul Hastings again top Creditflux’s global legal manager and arranger counsel rankings for 2025 – but the shifting legal landscape drove changes further down

CLO platform M&A sees green shoots
ANALYSIS: CVC’s recent agreement to acquire Marathon Asset Management in a deal that sees the top European CLO player double-down on its US CLO presence may prove the start of trend 

CLO manager rankings by AUM – FY 2025
Blackstone once again ended the year on top, but Apollo broke through to secure the second spot

Private credit investors chase higher risk-return—Campbell Lutyens
A new survey shows investors are seeking higher returning strategies amid expectations of lower rates, while also turning away from the dominant North American market

2026 kicks off with a lot of thunder and not much lightning
ANALYSIS: A lot of noise around geopolitics, Fed interference and market volatility has had little effect on the global CLO market, for now  

TwentyFour AM favours European CLO equity going into 2026
In comparison, US CLO equity faces more challenges related to LMEs and refinancing activity, the asset manager said

Individuals account for nearly a quarter of private credit investor base – Alternative Credit Council
The global private credit market grew to around USD 3.5tn in assets at the end of 2024, according to a new report from the Alternative Credit Council and Houlihan Lokey 

Bank of America Research projects record year for US CLO issuance
The bank forecasts some USD 600bn in deals expected to hit the market, more than 19% ahead of this year’s issuance total, while it also sees at least eight debut managers coming to market in the US in 2026

CLO dispersion set to increase in 2026 – BNP Paribas
Next year is likely to see increasing dispersion in credit performance off the back of a series of idiosyncratic credit events, BNP Paribas has forecast in its 2026 CLO outlook

CLO issuance projected to hit new records in 2026 – KBRA
The ratings agency projects USD 220bn in issuance across US BSL CLOs and private credit CLOs as well as five to six European private credit CLOs next year

Record gross supply but meagre risk/reward ratio for CLOs next year, says JPMorgan in 2026 outlook
The bank is forecasting a new record gross supply figure of half a trillion dollars next year for the US CLO market, but that headline figure belies the ‘recycled’ nature of much of the supply, with new origination expected to decline by around 20%

The tide of easy money pushes everything upwards – Satori Insights founder Matt King
The end of the US government shutdown has paved the way for a “renewed melt up,” says Matt King, founder of Satori Insights, on the latest episode of Credit Exchange with Lisa Lee

BlackRock rockets up after HPS buyout
After its acquisition of HPS, BlackRock has risen from 18th place to seventh in the US BSL AUM table. The highest-profile faller is UBS, which dropped out of the top 10. It was top in 2024

Oaktree Capital’s Robert O’Leary on threats, opportunities in global credit
Credit secondaries set for continued growth as financial sponsors seek liquidity solutions; high-yield bonds seen as defensible, while opportunistic strategies may benefit from distress

Polus raises EUR 890m for European special situations fund
The latest fund exceeded its original EUR 750m target, a source familiar told Creditflux

Laura Coady takes the helm of Blackstone's global CLOs
Coady, who will also serve as head of liquid credit, steps into the role as the firm’s former head of capital formation, Jane Lee departs

Rob Zable returns to CLOs with global role at Guggenheim
EXCLUSIVE: Blackstone’s former global head of liquid credit strategies will now lead the New York-based firm’s CLO and liquid loan effort

Tikehau surpasses target on private credit secondaries fundraise
EXCLUSIVE: The latest fund, which has yet to close, has already racked up more than USD 750m

Corporate Europe kicks on with ECM, M&A plans as US market fears grow
Best year for European corporate equity capital markets and M&A since 2021, but storm clouds forming in US AI valuations and private credit

Monthly defaults driven by bankruptcies for first time in two years – S&P Global
Five of the eight defaults recorded in September resulted from bankruptcy filings, with three coming from the US, according to a new research report

Reset frenzy set to ease — for now
The majority of deals from 2022 and 2033 that could be reset have been, so activity is likely to slow. But 2024 was a busy year for issuance and deals from then may bring a new surge in 2026