CLO pipeline: Capital time to debut in Europe as liability spreads drop
CLO managers are showing no signs of slowing down, as a further 16 US and five European new issue CLOs, including Capital Four's CLO management debut, appear in the pipeline

Global CLO round-up: Europe mops up demand, as Euribor hits the floor
The final stretch of the year began with a bang, with the first week of Q4 bringing $3.3 billion of CLO issuance in the US and €1.2 billion in Europe. But the resurgence in volumes was not the only talking point last week, with Europe coming into focus as spreads surfed tighter

Global CLO b-wic round-up: control stake trades as junior notes come to the fore
The European and US CLO secondary markets produced high volumes of junior and subordinated notes last week. Over 30% of listings were rated as equity, single B or double B.

Global CLO league tables at a glance - September 2019 YTD
Global CLO league tables at a glance - September 2019 YTD

It may seem a bit rich for Welshcake to tell staid CLO investors they need to be more sensible
Bespokes are the next big thing — and you’d be wise to get involved

Beyond blacklists: the next step in ESG
Credit managers are integrating ESG into their investment processes, but that does not mean they are unable to invest in unethical credits — they can, if they are paid adequately for the risk.

Any takers for illiquid European CLO equity?
The investor base for European CLO equity is far smaller than for US CLO equity. But for those with the mandate, and willing to stomach the illiquidity, valuations have been strong this year.

Fund performance
A round-up of fund performance

Ucits at a glance
A round-up of ucits fund performance

Credit funds at a glance
A round-up of fundraising and people moves in credit

CLOs at a glance
A round-up of CLO performance

CLO pipeline: newcomers look to impress at debutante ball
The pace of CLO issuance accelerates with each passing week, with debutantes lining up to join more prolific managers as Europe builds momentum and the US floodgates open 

Global CLO b-wic round-up: US and European double B trading patterns diverge
48% of the CLO secondary market was made up of triple A bonds; $255.6 million of US CLOs and €108.55 million of European CLOs. But there were differences in how CLO double Bs are trading in those markets.

Any takers for illiquid European CLO equity?
The investor base for European CLO equity is far smaller than for US CLO equity. But for those with the mandate, and willing to stomach the illiquidity, valuations have been strong this year.

Fair Oaks launches new fund targeting senior CLO paper
Fair Oaks Capital has launched a Ucits fund targeting triple and double A CLOs, according to market sources

18% of CLO managers priced their first deals post-January 2018, says Maples
Launching a new CLO management platform is ‘extremely difficult’ although the rewards appear to be worth the risks, according to new research from Maples Group

CLO pipeline: new kids in class look to excel on first assignments
The summer holiday is well and truly over with the European CLO market building on last week’s momentum as three new deals and one reset are to enter the primary market. 

Thomas Cook looks set to fly solo as default in outgoing Crossover series 31
The Determinations Committee has accepted a request to rule on whether Thomas Cook Group has triggered a bankruptcy credit event, after the UK-based travel company filed for chapter 15 protection in New York

The Last Tranche: managed CSOs and the benefit of CLO Euribor floors [podcast]
Managed CSOs are the talk of the town in the synthetic structured credit market, while CLO investors in Europe are putting a price on how much they value CLO Euribor floors  

MacKay Shields integrates CVP's loan team while spinning out distressed debt
MacKay Shields has spun out the distressed debt business of Credit Value Partners and focus resources on CVP’s leveraged loan platform

CLO pipeline: managers look to avoid a repeat of 2018 with new issue flutter
US and European CLO managers are preparing to up the ante in September, but they will have to defy a trend set a year ago

US credit managers make ESG breakthrough after taking a first step via UNPRI
Incorporating a framework for investing in companies based on environmental, social and governance (ESG) factors is a challenge that US credit managers are accepting in growing numbers

Axa IM promotes global head of loans and private debt following Levilain departure
Axa Investment Managers has promoted a new global head of leveraged loans and private debt to fill the vacancy left by Jean-Philippe Levilain, who has left to join CBAM

THL updates credit investment framework to include ESG
THL Credit Advisors has announced that it has developed an investment framework for assessing environmental, social, and governance (ESG) factors in analysing credit quality and risk factors