The expanding middle
Our analysis of mid market CLOs reveals that managers have distinguished themselves with the overlap between mid market US CLO portfolios being approximately 5%

BlackRock seeks $1 billion for new multi-strat opportunities fund
The new trust will invest at least 80% of its assets in fixed income securities and up to 40% in special situations, SEC filings reveal 

Former ICG CLO portfolio manager takes on CIO role at MeDirect
The former co-head of European leveraged loans at Intermediate Capital Group, Michael Curtis, has resurfaced at MeDirect (formerly known as Mediterranean Bank)

European CLO manager diversification is increasing, conference hears
European CLO managers have begun to pursue an active management strategy, says IMN panel

Leveraged finance veteran leaves Mizuho in London after 22 years
The head of international acquisition finance at Mizuho, Paul Carman, has left the bank to bring to an end a 22-year affiliation with Mizuho

Flat Rock prepares $100 million CLO equity-focused fund after big hire
Flat Rock will launch the new interval fund to primarily invest in CLO equity, with newly hired anchor CLO investor Shiloh Bates acting as one of the portfolio managers

Portfolio manager central to European CLO expansion to leave Neuberger
One of the key figures behind the launch of Neuberger Berman’s European CLO business is set to leave the firm

Spire moves into CLO investing with new credit fund
European corporate credit specialist Spire Partners has raised roughly €100 million for a multi-strategy fund that will have the ability to invest in CLOs

Credit interval funds thrive as investors value liquidity profile
“The interval fund structure’s time has come," says BlueBay's Blair Reid

Term structure is being developed for floating rate benchmark SOFR, says LSTA
The Secured Overnight Financing Rate, known as SOFR, is being developed into a term structure

There are no perfect hedges for CLOs
As the CLO market gets hotter and hotter, investors are seeking hedges against the inevitable downturn. But although there are a wide range of options, there is no consensus on which is best
 

CLO debt investors resist equity investor push for Libor toggle
“If spreads weren’t collapsing we wouldn’t be hearing about this," says PGIM's Edwin Wilches

Experienced CSAM holds off boutiques to win biggest prize
Credit Suisse Asset Management became a two-time winner of the Creditflux Manager of the Year award last month after picking up the 2018 trophy in front of a packed house at London’s Landmark Hotel on 9 May

2018 US CLOs are highly ramped at closing, but this could decline, says Fitch
New US CLO portfolios at closing have been ramped by over 83% on average every month this year, according to research from Fitch Ratings

Highland merges funds to create new loan/CLO strategy
Highland Capital Management has merged certain funds to create a new strategy that will invest across corporate loans and CLOs, according to market sources

Barrow Hanley moves into US loans after hiring PMs from Whitebox
“Now is the ideal time to add the bank loan strategy to Barrow Hanley’s menu of offerings" says Nick Losey ahead of his move to the firm

CIFC gets in on interval fund phenomenon with new CLO-focused strategy
The new vehicle will invest at least 80% of its net assets in debt securities, with a focus on CLO equity, mezzanine tranches and warehouses, US SEC filings reveal

Destra and BlueBay team up to launch credit interval fund
Destra has become the latest manager to launch an interval fund - Destra International & Event-Driven Credit Fund - which will focus on two strategies: multi-strategy international credit  and event driven credit. 

European loans specialist joins Fair Oaks and reunites with former colleague
Fair Oaks Capital’s expansion into CLO management has taken another step forward

Carlyle and Oppenheimer opt for interval fund structure as part of JV
The new private credit fund will invest at least 80% across loans and structured credit (Including CLOs), opportunistic credit, direct lending and liquid credit, SEC filings reveal

King Street loses out as European loan specialist has change of heart
Market sources say that King Street Capital Management came tantalisingly close to bringing in a senior official to help establish its European CLO business

We are not structured finance investors – we are corporate credit specialists
Fair Oaks' Miguel Ramos-Fuentenebro takes our credit quiz

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

Blockchain experts eye CLOs in bid to overhaul archaic practices
The CLO industry, in many ways, can still be accused of living in the dark ages – but all that could be about to change with Creditflux learning that at least two firms are looking to modernise CLO infrastructure by implementing blockchain technology.