Blue Owl moves to launch direct lending business in Europe
US-based asset manager Blue Owl is looking to launch a direct lending business in Europe and is interviewing deal-markers in the regions

Taking stock after a long hot summer
As fall approaches, the global CLO and leveraged loan markets are in a strong position. But will records set in 2021 tumble?  We compare the numbers — and find out what the market thinks

Fund performance
CLOs feel the heat from corporate long-short and ucits funds in July; top ten credit funds in July 2024

Credit hedge funds
Credit hedge fund performance for July 2024

Apollo’s Redding Ridge promotes Joe Moroney to CEO
Redding Ridge, Apollo's CLO management subsidary, has named Joe Moroney to be its new CEO 

Corinthia Global Management eyes deployment in 4Q24
The upstart direct lender sued for lifting more than 20 staff from Barings is preparing to begin deploying capital as it announces a flurry of senior appointments

CLO round-up: CLO market sees slight pressure to widen new issue spreads
CLO market saw robust deal activity with some pressure on liability spreads last week

Search for diversification begins as direct lenders predict uptick in defaults
Amid the buzz of private credit there are doubts, as headwinds have caused the market to become cautious as competition increases.

CLO strategies outperform again
In 2023, our index of funds investing in CLO tranches and equity returned 22.9%. In the first six months of this year, the index reached 9.9%, as these funds again delivered outstanding results

CLOs at a glance
CLO issuance table for July 2024

By raising billions, private credit funds are causing a seismic shift in leveraged finance
Private credit funds are amassing a huge war chest that’s permanently changing the complexion of the leveraged finance market

CLO round-up: Wild week leaves CLOs in a better place
Last week saw spiking volatility, the collapse of the yen carry trade and shelved loan repricings. For CLOs, however, it was business as usual with the market musing that the gyrations may have left the CLOs better off.

German manager launches two new private credit fund-of-funds
YIELCO Investments, a German alternative asset manager, is planning a 2024 first close for two newly launched private debt fund-of-funds

JP Morgan revises CLO spread target upwards as recession fears mount
Off the back of renewed recession fears JP Morgan has revised its end-of-year AAA CLO spread target upwards to 150bps for both the US and Europe

Oak Hill seeks to raise new CLO equity fund with mammoth cap
Alternative credit manager Oak Hill is raising a huge new captive CLO equity fund to support global deal activity

Hayfin agrees to Arctos-backed management buyout
The management team at Hayfin Capital Management is taking over the company in a management buyout backed by Arctos Partners

Connecticut pension allocates USD 300m to Oaktree’s distressed credit fundraising
Connecticut pension system commits to Oaktree latest flagship distressed credit fund

Blackstone reports 18% return from private credit over last 12 months
Blackstone's private credit and liquid credit returns outperform private equity investments in the last 12 months

Pearl Diver to list new CLO equity fund
Pearl Diver is listing a new CLO equity fund on New York Stock Exchange under "PDCC" ticker

2024 Q2 CLO law firm rankings
Our definitive global, US and European rankings for CLO law firms in the first half of 2024

2024 Q2 CLO trustee rankings
Our definitive global, US and European rankings for CLO trustees in the first half of 2024

Global CLO market on pace for year of historic issuance
The summer promises to be a scorcher for deals in the USD 1.3tn global CLO market as the asset class looks ahead to a potential record-breaking year

M&A activity on fire in private credit despite overall M&A slowdown
The M&A market has had a rough time in the past 12 to 18 months, but there’s one area that’s bucking the trend: private credit

Full steam ahead in the US and Europe
We’re now six months into 2024, and according to our latest league tables, the CLO engine shows no sign of slowing down, as spreads grind tighter and resets get underway in Europe

Alternative PE lending puts pressure on LP-GP alignment
Loans that use fund NAV or GP earnings as collateral are growing in popularity. But some feel these deals could have unforeseen effects and hinder transparency in LP relationships