Points up front: dying question
The delicate reason, why it may not be possible to call a CLO..

Past returns: mixing synthetics and ethics
In Creditflux 10 years ago we looked at how Société Générale was pitching an “ethical” synthetic CDO

Pearl Diver ramps new fund and looks to mezz
Pearl Diver’s AUM has swelled to $1.3 billion as it finishes investing a new fund and looks towards its next vehicle

PGIM takes top spot as credit market celebrates
PGIM was the big winner at the Creditflux Manager Awards dinner on 3 May after scooping up the coveted manager of the year award

PGIM strikes while the iron's hot as it markets another new CLO
PGIM is looking to continue its hot streak in the CLO primary market with sources indicating that the asset manager is marketing a €415.7 million deal

European loan manager prices its third 2.0 CLO
Morgan Stanley priced a €373.7 million CLO for a European loan manager, according to market sources.

Europe drops plans for tougher risk retention rules
The European Union has pulled back from plans that would have made it much harder to structure CLOs

Longer reinvestment periods pose risks to CLOs, finds S&P
In a recent report published by Standard & Poor’s the rating agency examines the relationship between a CLO’s reinvestment period and subordination levels for debt tranches

Rothschild switches to new risk retention method for latest euro CLO
Rothschild Credit Management has changed tack by retaining a horizontal slice of its first European CLO of the year

Axa IM rekindles relationship with MJX after manager creates CMOA
Axa Investment Managers has emerged as a key investor in a recent MJX Asset Management CLO

Onex eyes CLO resets as seasoned 2.0s reach reinvestment end
Onex Corporation held its earnings call last week, during which officials at the firm underlined the importance of resetting seasoned US CLOs into new structures

Investors agree wind-up call for KKR euro CLO 1.0
Investors have approved a plan that will allow KKR Credit to wind down a poorly performing 2006 European CLO

CLO round-up: Columbia and CSAM produce 100%-plus annualised distributions
Amidst the reset and refi environment, Columbia Management and Credit Suisse Asset Management have pleased the equity investors in their CLOs by delivering 100%-plus annualised payments in May

Credit Suisse and CSAM team up to price latest euro CLO
Credit Suisse Asset Management has matched the pricing on recent deals to bring its first European CLO of 2017

CLO structurer joins Citi in London
Citi has strengthened its European CLO team by hiring from a rival.

Citi introduces tiered pricing model for CLO b-wics to boost participation
Market sources say that Citi – one of the largest CLO market-makers in the business – has launched a new CLO b-wic pricing initiative, which could improve liquidity in the secondary market for CLOs

CLO round-up: spreads tighten in secondary as managers turn to refis
CLO spreads have been grinding tighter this year with triple-B discount margins falling from a 424 basis point rolling average to 347bp

Cairn hires former Magnetar official for PM role on credit opps fund
Cairn Capital has announced that it has hired former Magnetar Capital official Brandon Kufrin as a portfolio manager

HPS makes its debut as European CLO manager
HPS has priced the first of two European CLOs it is known to have in the market

Goldman Sachs prices refinancing of early 2015 European CLO
Goldman Sachs has achieved a spread of 95 basis on the senior notes of a European refinancing 

CLO managers boost “diversity” by adding industry categories
Some recent CLOs have increased the number of industries into which they classify borrowers to as many as 70, according to Fitch 

Natixis hires experienced official to lead European structured credit sales
Natixis has appointed a new head of structured credit distribution for Europe, sources say

Ares wins $1.1 billion in global direct lending SMAs in strong start to 2017
Direct lending proved to be Ares Management’s most successful strategy in fundraising terms with the firm registering $1.1 billion of inflows for European and US private debt in the first quarter

CLO round up: manager tiering hits US market
New issuance volumes overtook those of refinanced deals in the CLO market last week. $1.63 billion of new issue printed in the US

Stabilisation managers emerge to rescue CLO refis
Documents for an Octagon CLO refi reveals a tactic used by arrangers to ensure better execution