US lev loans, CLO spreads move in opposite directions as market worries deepen over software loans
ANALYSIS: The unusual dynamic has been driven by worries about disruption from artificial intelligence, as investors fret about the potentially wide-ranging impacts across a range of sectors

Global CLO law firm rankings – FY 2025
Milbank and Paul Hastings again top Creditflux’s global legal manager and arranger counsel rankings for 2025 – but the shifting legal landscape drove changes further down

CLO platform M&A sees green shoots
ANALYSIS: CVC’s recent agreement to acquire Marathon Asset Management in a deal that sees the top European CLO player double-down on its US CLO presence may prove the start of trend 

Janus Henderson European ETF platform exceeds USD 1bn as it expands UCITS ETF range
The launch of the US Short Duration High Yield Active Core UCITS ETF follows a period of significant growth, with the European ETF platform surpassing USD 1bn in assets and the global ETF platform exceeding USD 40bn

CLO manager rankings by AUM – FY 2025
Blackstone once again ended the year on top, but Apollo broke through to secure the second spot

Cadwalader eyes CLO comeback post-merger
EXCLUSIVE: Cadwalader confirms plans to remain in the CLO business, and hopes to expand its client offering after the Hogan Lovells merger

CVC enhances US credit offering with Marathon acquisition
CVC Credit has extended its reach in the asset based, real estate, opportunistic and public credit markets by acquiring US credit manager Marathon Asset Management

M&A dealmaker denial over world’s ‘morbid symptoms’ risks rude awakening – Continental Drift
OPINION: Deal bullishness rules as geopolitical rupture rocks Western world; Carney draws line under old world order with Davos intervention, as inflation, consumer weakness and credit signals point to shaky reality

2026 kicks off with a lot of thunder and not much lightning
ANALYSIS: A lot of noise around geopolitics, Fed interference and market volatility has had little effect on the global CLO market, for now  

Announcing the 2026 Creditflux CLO Symposium – April 20-21, London
Save the date for the 18th Creditflux Symposium at a new exciting venue at The Chancery Rosewood in Mayfair, London

US and European CLO markets to diverge amid volatility concern
EXCLUSIVE: High investor demand and strong technicals will protect the European CLO market from volatility

CLO industry in push to increase use of AI in 2026
ANALYSIS: Investors are already using AI to evaluate managers and CLO documentation

Key theme for 2026 will be growth in the loan market – Eagle Point founder Tom Majewski

Growth in the loan market will be an important market driver this year, the founder of Eagle Point Credit Management says on the latest episode of Credit Exchange with Lisa Lee; also shares Eagle Point ressearch that shows LMEs at 2% per year on top of default rates

London calling
For the final issue of 2025, the Creditflux magazine casts its eye toward London, the capital of European private credit, and looks at how the asset class took shape in the UK and elsewhere in Europe

‘In 2026 we will see data-centre term loans’
2026 outlook with Lauren Basmadjian, global head of liquid credit at Carlyle

News in brief
Private credit firms brace for Bank of England’s 2026 stress test, data centre development dwarfs all other infrastructure spending, and operators tap securitisation deals to fund Europe’s data centre boom

CLOs at a glance – November 2025
Our list of recent CLO pricings globally

TwentyFour AM favours European CLO equity going into 2026
In comparison, US CLO equity faces more challenges related to LMEs and refinancing activity, the asset manager said

CLOs take the stage at Abu Dhabi Finance Week
Investors turn to CLOs amid lower returns in private credit; private credit managers anticipate active deployment environment in 2026

Bank of America Research projects record year for US CLO issuance
The bank forecasts some USD 600bn in deals expected to hit the market, more than 19% ahead of this year’s issuance total, while it also sees at least eight debut managers coming to market in the US in 2026

CLO dispersion set to increase in 2026 – BNP Paribas
Next year is likely to see increasing dispersion in credit performance off the back of a series of idiosyncratic credit events, BNP Paribas has forecast in its 2026 CLO outlook

North American and European credit defaults to fall next year – S&P Global
Global credit default rates will remain contained next year with North American defaults falling to around 4% 

CLO issuance projected to hit new records in 2026 – KBRA
The ratings agency projects USD 220bn in issuance across US BSL CLOs and private credit CLOs as well as five to six European private credit CLOs next year

Record gross supply but meagre risk/reward ratio for CLOs next year, says JPMorgan in 2026 outlook
The bank is forecasting a new record gross supply figure of half a trillion dollars next year for the US CLO market, but that headline figure belies the ‘recycled’ nature of much of the supply, with new origination expected to decline by around 20%