New CVC issue cuts Euro AAA tight by two basis points
CVC’s first new Euro deal of the year priced triple As at 120, two basis points inside the previous low – but its overall cost of funding remained slightly wide of the tightest for the year

European CLO Rankings - January 2025
A busy January saw EUR 5.6bn of issuance in Europe, with Jefferies and HPS leading the European CLO rankings

Canyon prices its third CLO since entering Europe
Canyon Partners has priced its first European CLO since April last year  

European CLO portfolio manager Jason Late to leave Man Group
The news comes after the London-based portfolio manager saw his CLO portfolio management responsibilities transferred to the firm’s New York office  

European CLO ETF options widen as Invesco launches two new offerings
The asset manager joins Janus Henderson and Palmer Square in announcing debut European CLO ETFs this year  

UBS prices first new US issue for 2025 close to current AAA tight
The USD 604m deal saw the senior triple-A paper paying 114bps over SOFR  

Fidelity tightens up with first Euro CLO reset of 2025
The repricing set a new year-to-date triple-A tight for European resets of Euribor plus 123bps  

Big managers hold steady in CLO boom
After a late surge, 2024 saw USD 588bn of new global issuance from 1,331 CLOs, as well as the launch of multiple managers. But the biggest players mostly held on to their high rankings

A profitable year for credit funds
An almost 18% rise ensured our CLO fund index was the best performer in 2024. But other credit indices werenʼt far behind as funds across the credit spectrum delivered strong returns

January issuance smashes records as spreads tighten
The CLO market blazed hot in January, breaking issuance records and pushing spreads down to near-historical lows. Market participants are positive about the rest of the quarter, but predict headwinds on the horizon.

CLOs at a glance - January 2025
Our list of recent CLO pricings globally

Credit funds at a glance - January 2025
Fund performance, recent hires, recent fundraising

Credit hedge funds - December 2024
Credit hedge fund performance

Fund performance - December 2024
CLO funds cap off strong 2024 with yet another good month

PGIM resets 2017-vintage Euro CLO with wider cost of funding
The transaction marked the first reworking of the seven-year-old deal, with spreads pricing wider at every level of the cap stack  

Palmer Square prices tightest static European CLO in three years
Palmer Square has printed a static deal with triple-As hitting 85bps over base rate

CLO veteran Geoffrey Horton leaves portfolio manager role at BlackRock
After a decade in CLOs, the US-based PM is decamping from BlackRock to make a move outside the structured products space  

Investcorp sets new low for fixed-price AAs with latest Euro CLO
The newest new-issue print from Investcorp also priced close to current tights through the mezz  

HPS achieves sub-120 AAA spread deals with new US CLO
Having already printed new European and private credit CLOs in 2025, HPS priced its first new US BSL deal of the year  

Ares snatches tightest cost-of-funding crown by slimmest of margins
Ares’ first new European deal of 2025 equalled year-to-date spread tights for every tranche  

Fortress and Polen print their first new CLOs of the year
Fortress and Polen Capital have priced their first BSL offerings of the year, both via BofA  

Wellington prices impressively tight with latest new-issue CLO
The Boston-based asset manager is building a reputation for pricing tight deals despite its newness to the market    

European ABS, CLOs tighten as secondary trading picks up
Secondary spreads for both ABS and CLOs in Europe tighten this week, notably for mezzanine tranches

Partners prices second reset of 2017-vintage Euro deal
The repricing is the manager’s first European deal of the year