Budge up, more new managers are coming

CLOs are 11% of Nochu's assets as bank posts JPY 7.4 trillion investments
Norinchukin bought another JPY 600 billion ($4.77 billion) CLOs in the first quarter, taking its total investments in the asset class to JPY 7.4 trillion ($66.8 billion), according to the bank’s latest financial statements

Global b-wic round-up: Short-dated CLO paper hits the market
Last week brought over $800 million of b-wics listed in the US CLO secondary market for the first time this month, with around 10% being paper that had a reinvestment period that ended in 2019.

CSAM syndicates triple A notes at 112bp in new European CLO
Credit Suisse Asset Management yesterday priced its latest European CLO offering, syndicating its triple A notes at 112 basis points over Euribor

Fair Oaks goes for short reinvestment as it markets debut euro CLO
Fair Oaks Capital has gone for the short-dated route for its debut CLO, Fair Oaks Loan Funding I, which was launched yesterday via Deutsche Bank

European managers find tight debt execution by refinancing once more
PGIM and Carlyle Group joined the growing list of CLO managers to refinance in Europe since the seven-month refinancing drought was brought to an end last month – and these managers are enjoying tight debt execution on their liabilities

CSAM plans double CLO issuance next week with US and EU deals in the market
Credit Suisse Asset Management is preparing to issue two new issue CLOs next week, with one issuance on either side of the Atlantic

Oaktree refinances 2016 European CLO with triple As at 87bp
Oaktree Capital Management yesterday refinanced its 2016 vintage CLO named Arbour CLO IV, producing the European market’s first sub-90 basis point print in over nine months

Ostrum appoints structured credit head as it looks to issue US CLOs
The market has found a plethora of CLO managers looking to expand in Europe, but Ostrum Asset Management has gone the other way by hiring an experienced US CLO portfolio manager

Citi names sales head with global structured credit remit
Citi has promoted Rajiv Amlani to global head of special products solution sales, in which he will be responsible for non-flow structured credit and securitised trading business

Ex-Goldman Sachs official joins Napier Park as inaugural European CLO nears
The firm has hired an ex-Goldman Sachs official to its European credit team

EQT hires portfolio manager to pave the way for European CLO launch
EQT has taken a big step towards launching a CLO management platform with market sources indicating that the firm has hired a head of senior debt

Global b-wic round-up: US CLO equity continues its surge
Last week marked the third straight week that the US CLO secondary market has seen total listings of under $600 million, but over a quarter of that was equity.

Napier Park joins growing list of US CLO managers looking to issue in Europe
Napier Park Global Capital has joined the growing list of CLO managers looking to issue in Europe for the first time, according to market sources

114bp is syndicated benchmark for triple As in Europe as Och-Ziff prices CLO
Och-Ziff Loan Management priced a new issue euro CLO yesterday, according to market sources

Spire wins Creditflux Manager of the Year award
Spire Partners was the big winner at Creditflux's Manager Awards last night as the London-based manager scooped the award for the manager of the year. On top of this, the firm picked up awards for Best European CLO Manager and Best European CLO for Aurium CLO II

Euro CLO league tables: at long last - a reset, a refi and a debut
A chill swept through the European CLO market in April. While managers priced €3.16 billion of CLOs, it was the slowest month since January. 

Global CLO league tables at a glance - April 2019 YTD
Global CLO league tables at a glace - April 2019 YTD

Global CLO round-up: new managers put down roots
Birch Grove priced its debut CLO this week while relative newcomers PPM (in the US) and Voya Alternative Asset Management (Europe) grew their CLO AUM.

Voya prices its second European CLO
Voya Alternative Asset Management priced its second European CLO yesterday, according to market sources

Capital raised for risk retention keeps struggling CLOs afloat
In a bid to turn struggling warehouses into CLOs, managers are prepared to take losses on funds raised for risk retention in order to issue new deals.

Control equity available in BlackRock CLO just one month after first payment
Control equity in BlackRock's 2018 European CLO is up for auction today at 10am New York time (3pm London), according to market sources

Ashurst promotes structured products lawyer as one of 21 new partners
Ashurst has promoted to partner a London-based lawyer who specialises in derivatives and debt capital markets

CLO pipeline: refinancings to make a comeback
CLO refinancings look set to continue their recent surge in the US CLO market, with another five refinancings and two resets appearing in the pipeline.