Global CLO b-wic round-up: secondary market awakens with control equity bonanza
Four anchor positions made available on secondary market as equity accounts for over a third of all volumes.

If you can stomach volatility, CLO equity is very attractive

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

US hedge funds use leverage to buy European CLOs
Boca Raton-based hedge fund manager III Capital Management is leading the charge as US hedge funds employ leverage to buy European triple A-rated CLOs.

Past returns: Unfinished business in CLOs
Five years ago in Creditflux we reported that DA Capital was looking for a way back into CLO management. The firm had sold its four US CLOs in 2011 to Citi Alternative Investments (now known as Napier Park Global Capital), but a rally had convinced the firm it was time to issue CLOs again. 

CLOs at a glance

A round-up of CLO performance

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

Fund performance
A round-up of fund performance

EQT looks to raise €500 million via IPO
The initial public offering is anticipated to increase EQT's flexbility to “pursue growth opportunities” and expand its private market investing business

One day, two investors, three CLO controlling stakes in secondary
Two investors are inviting bids for anchor positions they hold in three CLOs.

ESG standards leak into CLO ratings
Investor sentiment is shifting with an influx of new participants—and borrowers will also take note

US hedge fund takes levered positions in euro CLO triple As
A Us structured credit specialist is taking levered positions in European triple A CLOs

CLO pipeline: Carlyle and KKR plan swift re-entries
Carlyle Group and KKR are included in the CLO pipeline this week as both managers have started marketing their latest transactions as the US CLO pipeline begins to look full after a quiet week

CLO pipeline: Golub and Sound Point to cement positions among market leaders
Last week there were nine CLOs priced in the US market, including four broadly syndicated loan new issues and two middle market new issues, whereas there was no issuance in Europe. The CLO action over the next few weeks is again weighted towards the US, according to market sources

CLO pipeline: refis can't wait till after summer
The CLO market in both the US and Europe looks to be slowing down in the near future with only two deals added to the running pipeline.  

BlueMountain buyout to bring CLO equity shift, funding pledge and Feldstein payout
BlueMountain Capital Management’s co-founder Andrew Feldstein looks set to receive a substantial pay-out in common shares of Assured Guaranty, which has agreed to buy the manager for around $160 million and has outlined a three-year plan for its CLOs

CLO pipeline: US takes up baton after European July sprint
The US CLO market is ready to kickstart issuance in August as nine deals have been added to the running pipeline.

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

Apollo fee earnings rise 9% in Q2 as structured credit boosts portfolio
Apollo Global Management’s credit portfolio increased 4% quarter-over-quarter to $201 billion, driven by growth in affiliated life insurance firm Athene, as well as corporate credit and structured credit

A challenging environment

Market rallies as key CLO investor retreats

They said it: "They are finally picking up the phone and making use of their rolodexes"
Bankers have been forced to reconnect with the broader triple A CLO buyer base now that Norinchukin Bank has stepped back, says a US CLO equity investor.

Fund performance: Mercury rises as does credit fund performance

CLOs at a glance
A round-up of CLO performance

Bank of Japan keeps rates in check to keep CLOs within reach
The US Federal Reserve’s pivot toward a more dovish monetary policy has buttressed the symbiotic relationship between Japanese investors and US CLO managers