Spire scales heights as Creditflux’s Manager of the Year 2019
Spire Partners celebrated bringing home three Creditflux awards, including the coveted Manager of the Year trophy, on a night of high spirits on 8 May at London’s Landmark Hotel.

DWS backs away from planned ESG-style European CLO
DWS has dropped plans to launch a European CLO, sources say. It is unclear why DWS, the asset management arm of Deutsche Bank, has turned its attention elsewhere, but one source says that the capital-intensive nature of putting together risk retention-compliant deals likely weighed on the firm. 

Morningstar eyes credit rating expansion as it announces DBRS acquisition
Morningstar today announced it has entered an agreement to acquire DBRS for $669 million, according to a statement from the firm

Invesco returns to market with its second 2.0 European CLO
Invesco has priced its second euro CLO after entering the European market in November last year, according to market sources

Deutsche Bank bolsters CLO origination desk in London
Deutsche Bank has added to its CLO origination desk in London, a spokesperson has confirmed

Redding Ridge does without single B debt as it prices European CLO
RRE 2 has an unusual debt structure for a European transaction, with the CLO opting against a single B tranche. At the opposite end of the structure, the triple As are issued in senior and junior tranches which priced at 113 and 150 basis points over Euribor respectively

CLO pipeline: Black Diamond looks to brush itself off and jump back in ring after year out
Black Diamond Capital Management features twice in our CLO pipeline this week, as the firm is planning a return to both the European and the US CLO market.

Euro CLO round-up: benchmark ruffles up, but junior tranches sit tight
CLO triple A benchmark levels underwent a shake-up last week as Credit Suisse Asset Management and HPS Investment Partners brought deals to the market with first-pay tranches printing above the recent benchmark of 108.5 basis points

HPS prints triple As at 111bp in latest European new issue CLO
HPS Investment Management has priced a new CLO in Europe named Aqueduct EUR CLO 4, with triple As printing at 111 basis points over Euribor

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.