Mezz guidance drifts wider for European Voya deal
The new European CLO has seen moderate widening in investor guidance for the the single A, triple B and double B tranches as market volatility increases

EC securitisation overhaul puts Euro manager retainers 'back to status quo' – Mayer Brown’s Chris McGarry
The result is that smaller manager retainers are now able to come to market as they did prior to the revised guidance from the Joint Committee, the structured finance partner told Creditflux  

Latest AB CarVal Euro reset prices wide
The reset of the 2023 deal issued its triple As at Euribor plus 142bps

Fitch warns of dimmer credit outlook for rest of year
The rating agency’s mid-year updates cites deteriorating economic growth from US policy uncertainty, tariffs and geopolitical risk

CIFC matches current Euro AAA tight with latest new issue
The EUR 406m offering matched Blackstone's Ringsend Park CLO with its triple As issuing at Euribor plus 131bps

European CLOs show early signs of pullback, spread widening
The pipeline through July remains strong, but there are indications that getting a deal done is getting just a bit harder

Euro pipeline remains strong with Blackstone, Voya and ICG among those readying new issues
The pipeline into the August break remains strong as a number of managers look to take advantage of a still-benign issuance environment in advance of the summer break

Tikehau resets 2019 Euro deal on short-dated timetable
Valued at EUR 434.6m, Thursday's transaction priced via Natixis and included a EUR 13.9m equity injection

BlackRock prices first Euro CLO since January
The reset of the three-year-old deal included some EUR 9m of additional equity

BNP Paribas taps alts head for combined BNP, AXA IM group
Isabelle Scemama will oversee more than EUR 300bn in assets as the two groups merge

European CLO veteran Boris Okuliar departs Ares
The exit sees the loss of Ares’ co-head of its global liquid credit business after nine years at the firm, to spend more time with family and explore new opportunities

Rich fees help pull in growing crowd of CLO debutants
US financial giant State Street, private equity shop Abry Partners, the Princely family of Liechtenstein’s LGT Capital Partners, and even India’s Vivriti Asset Management are among a burgeoning list of asset managers looking to get into the CLO management business

First actively-managed direct lending CLO in Europe sets template for others to follow
Last month, Ares made history by launching Europe’s first actively-managed direct lending CLO. But unlike Barings' static issue last year, Ares chose to create a reinvesting CLO, opening up a new seam of structured credit solutions for European managers and investors

‘CLOs are strategic, all-weather investments’
CIO and managing partner Pearl Diver Capital, Chandrajit Chakraborty, says it's important not to chase yield at the expense of fundamental credit quality

Proposals for European SRT labelled ‘relentlessly positive’ for small banks and insurers
Europe’s significant risk transfer market could be transformed under sweeping European Commission proposals that aim to rewire the continent’s strict securitisation framework

US challenges keep number of CLO hopefuls similar across Atlantic
Both the US and European CLO markets have a long list of financial firms looking to start management businesses, but the smaller European market’s list is longer, relative to its size

News in brief
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Opportunity in CLO double B tranches
Given their low default rates, double B CLO tranches offer much higher coupons than might be expected — suggesting they offer some of the best risk/return trade-offs in all of fixed income

‘It’s rare something is both issuer and investor friendly’
In 2015, Apollo’s Albert Huntington invented CLO resets. But the most important thing he learned back then was how flexible CLOs can be if you get consent from all equity holders

Differences in scale and sector exposure mean US and European CLOs offer different risks and rewards
European CLOs offer more sustainable arbitrage opportunities than US CLOs

Credit hedge funds – May 2025
Credit hedge fund performance

Credit funds at a glance – May 2025
Our roundup of top performers, fundraising and moves in credit

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

Fortress prints second Euro CLO
The EUR 408m deal – co-arranged by Natixis and HSBC – comes eight months after the manager’s inaugural European print

Sona prices second new CLO for 2025, third overall for the year
The manager has priced its fifth new CLO since its management debut in November 2023 – a EUR 405.6m issue arranged via Morgan Stanley