Hayfin returns to market with first US CLO in nine months
The reset of the 2020-vintage deal priced the top of the stack at SOFR plus 123bps  

Tariffs, trade wars and inflationary pressures are unlikely to prevent CLOs doing well this year
No two years are the same — but 2025 is shaping up to be strong

Big managers hold steady in CLO boom
After a late surge, 2024 saw USD 588bn of new global issuance from 1,331 CLOs, as well as the launch of multiple managers. But the biggest players mostly held on to their high rankings

A profitable year for credit funds
An almost 18% rise ensured our CLO fund index was the best performer in 2024. But other credit indices werenʼt far behind as funds across the credit spectrum delivered strong returns

January issuance smashes records as spreads tighten
The CLO market blazed hot in January, breaking issuance records and pushing spreads down to near-historical lows. Market participants are positive about the rest of the quarter, but predict headwinds on the horizon.

Credit hedge funds - December 2024
Credit hedge fund performance

Fund performance - December 2024
CLO funds cap off strong 2024 with yet another good month

UBS refinances 2020-vintage US BSL CLO
UBS has refinanced a CLO following a reset in 2021 when the CLO was managed via the CSAM platform    

Largest CLO ETF in market balloons to USD 20bn in assets
After record inflows in 2024, January Henderson's triple-A ETF in January saw the fund add an addition USD 3bn in assets  

Silver Point prints new middle market deal in specialty credit series
The USD 474m private credit issue comes two months after the manager held a final close for Silver Point Specialty Credit Fund III  

US CLO roundup – US spreads fall to 'historically tight' level
The year kicked off with a bang for US CLOs with a major new tight and investor demand running red-hot

CIFC’s first new issue of year prices triple-As at 115
The top of the stack for the US BSL CLO was just 2bps outside the current market tight    

HPS's massive deal sets new low for private credit CLO spreads
HPS has priced its first new private credit CLO since its purchase by BlackRock, clearing a massive USD 1.25bn deal 

Apollo and Churchill set new low for middle-market CLO spreads
New deals from Churchill and MidCap have triple-A coupon spreads inside the tight set late last year by Blackstone  

Brigade scores its tightest cost of funds ever in new US BSL CLO
The manager secured its lowest overall cost of funding thus far with its first new US issue of 2025  

Oaktree reprices two US CLOs in two days
Oaktree priced a reset and refi at the end of last week as it kicked off its primary market issuance for 2025  

Trimaran prices first deal for 2025 with half-billion-dollar new issue
The deal is the first print from Trimaran Advisors since November

New Mountain resets its debut US CLO a second time
New Mountain Capital has reset the US BSL deal that marked its debut as a CLO manager for the second time

Napier Park resets US BSL CLO from 2021
Napier Park has priced its first CLO transaction of the year with a reset of a 2021-vintage deal

Irradiant substantially changes US CLO in reset of 2023 vintage deal
Irradiant Partners has reset a US CLO, via Nomura, adding extra tranches in the process

Ares refinances 2019 US CLO for second time
Ares Management has refinanced a 2019 vintage US BSL-backed CLO for the second time via Societe Generale

Allstate sets new tight for triple-As for US CLOs this year
Allstate sets new lows for US BSL triple-As, clearing latest new CLO at SOFR plus 113bps

Investor demand boosts CLO deals but loan tightening may pose future challenges
US CLO spreads have narrow dramatically in 2025, but leveraged loans have fallen even more, which may eventually erode the arb and hamper dealmaking, but for now CLO issuance remains strong

Aegon prices second reset of 2017-vintage issue
Aegon USA Investment Management has priced a reset of a US BSL CLO arranged by Jefferies