Pemberton strengthens CLO platform with new hire
Jay Daryanani has joined the firm as managing director and deputy head of CLOs

Former Ares CLO leader Boris Okuliar joins Corinthia
London-based Okuliar is now Corinthia’s chief strategy officer and head of global diversified credit, signalling the private credit firm’s expansion into public credit

CLO equity payments decline for US and Europe
Reinvesting US BSL CLOs saw median equity payments slip 16bps from the fourth quarter of 2025

A fiery start to the year
Welcome to the first issue of the Creditflux magazine for 2026. Our cover pays homage to the Lunar New Year, which begins on February 17 and is symbolised by the horse

Software loans face further declines as AI fears persist
The rapid deployment of artificial intelligence is wreaking havoc with software companies that not long ago were darlings of the US leveraged loans market

CLO newcomers scramble for senior talent amid intense competition
Competition for seasoned CLO professionals is at its highest level in over half a decade

‘This is a perfect storm for the loan market’
Investing Corner with Michael Sobol, global head of investing at Blackstone

News in brief
Serone Capital Management hires Erika Morris and Wes Seifer, former leaders of Tikehau Capital’s US CLO platform

Debt options proliferate as lenders back data centres
The AI boom has set off a rush to construct USD 7tn of data centres. The ABS and CMBS markets are being tapped, and direct lenders are creating novel solutions to fund developments

All aboard the legal merry-go-round
A series of high-profile movements among CLO law firms have underscored the importance of top-tier counsels. With partners in place, the focus is now shifting to the next generation

Apollo takes crown as 2025’s top issuer
For the first time, the combined issuance of Apollo Global Management’s three CLO brands has secured it top spot in the Creditflux ranking. The firm beat second-placed Blackstone by USD 1bn

How to evaluate CLO managers
Portfolio manager incentives and MVOC volatility are crucial factors for CLO equity investors, says Dagmara Michalczuk

Fund performance – December 2025
All categories end 2025 positively as Pictet Alt takes 12-month crown

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

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

US lev loans, CLO spreads move in opposite directions as market worries deepen over software loans
ANALYSIS: The unusual dynamic has been driven by worries about disruption from artificial intelligence, as investors fret about the potentially wide-ranging impacts across a range of sectors

New Euro CLOs price from Signal and Cross Ocean
Signal Harmonic CLO Vi was arranged by JPMorgan and takes the total AUM for Signal's CLO platform to EUR 2.7bn, while Cross Ocean Bosphorus CLO XII issued via Morgan Stanley

European BSL market upped risk to win deals in 2025 – White & Case
The BSL market issued a higher percentage of loans rated below BB against a backdrop of patchy M&A flow

PineBridge prices first new European CLO in seven years
The EUR 356m issue also marked the first European CLO primary issuance activity of any kind from the manager since 2021

Global CLO law firm rankings – FY 2025
Milbank and Paul Hastings again top Creditflux’s global legal manager and arranger counsel rankings for 2025 – but the shifting legal landscape drove changes further down

Partners reset tips Euro CLO AAA tight down to 121bps
Partners’ latest European CLO reset set a new tight for European CLO triple A spreads, as the rapid bout of spread tightening taking place in both the US and Europe over the last couple of weeks showed little immediate sign of abating

CLO platform M&A sees green shoots
ANALYSIS: CVC’s recent agreement to acquire Marathon Asset Management in a deal that sees the top European CLO player double-down on its US CLO presence may prove the start of trend 

Apollo nudges European AAAs down to 122bps
Barclays was the lead arranger on the reset of RRE 19 Loan Management, valued at EUR 362.5m, which also included Apollo as a co-placement agent

CLO investors push managers on arb; delaying European issuances
Conversations between CLO investors and managers around arbitrage may be causing a delay in new issuances, sources say

Janus Henderson European ETF platform exceeds USD 1bn as it expands UCITS ETF range
The launch of the US Short Duration High Yield Active Core UCITS ETF follows a period of significant growth, with the European ETF platform surpassing USD 1bn in assets and the global ETF platform exceeding USD 40bn