Points up front: Pining for Halcyon days
Last month, one of the biggest managers in the US CLO market, Halcyon Capital Management, rebranded to become
Bardin Hill Investment Partners

Loan managers need an equity-like mindset instead of relying on docs
Octagon's Lauren Basmadjian takes our credit quiz and talks about buying CLO equity in 2009, the impact of technology on the retail sector and Eddie Murphy's 1980s heyday

If the loan was not cov-lite, it is likely that Weight Watchers would have defaulted
Cov-lite loans have negative connotations, but they will enable some companies to trade through a bad patch and return to health  

Past returns: Oh brother, where art thou?
10 years ago in Creditflux, we reported on perhaps the single biggest moment in the history of the credit market as Lehman Brothers filed for bankruptcy and subsequently disappeared

They said it: “I’ve run the numbers and it looks more like a 3% IRR”
A CLO modelling professional tells Creditflux that European CLO model portfolios don’t look realistic

Points up front: structuring is in his blood
Very few people can claim they were born to structure CLOs, but perhaps GreensLedge’s new recruit Peter Melichar is the exception

Points up front: clickbait headlines? Us?
Last month ABS specialist TwentyFour Asset Management wrote a blog titled, “The next crisis will begin with... clickbait headlines”. He's not referring to us, surely?

The perception of liquidity is often not the same as the reality
Investec Asset Management's Jeff Boswell takes our credit quiz and discusses liquidity in Europe, the former "darling of the European debt market" Vivarte and the Matrix

Past returns: secret CLO market
Five years ago in Creditflux, we reported on the emergence of an inter-dealer market for CLOs

Points up front: Buttermilking it
We were amused to see that GSO Capital Partners has priced its latest park-themed US deal: Buttermilk Park CLO

There is an opportunity for investors able to look beyond the typical fixed income asset classes
Real money investors need to be aware of the merits of investment grade CLO tranches over similarly rated corporate debt, says our columnist Thomas Majewski

Past returns: LMCG and Trump
In Creditflux five years ago we reported on LMCG Investments (then known as Serenitas Capital) generating strong returns after spinning out of Bank America Merrill Lynch.

Borrowers who made the one-month Libor election at the beginning of the year saved only a bit of money
The spread between one-month Libor and three-month Libor has garnered a significant amount of attention in the CLO market this year. Indeed, some market prognosticators suggested that the difference between the two rates could have such an impact that it would shut down the primary CLO market. 

Past returns: Atlantic crossing
Five years ago in Creditflux we reported on Axa Investment Managers planning its debut US CLO with a view to becoming a global CLO manager. Today, US managers are prioritising the build-out of European CLO platforms

CLO 2.0s could weather a downturn better than 1.0s did
Improvements to structures and rating requirements, along with the involvement of a more suitable investor base, mean CLO 2.0s should cope when the cycle turns

Points up front: BlueGreen OneTreeHill United - the CLO team
Inspired by Serhan Seçmen’s keynote address at Creditflux’s CLO Symposium in May, we’ve come up with a World XI of CLO managers

CLO equity can help pension funds expand their efficient frontier
Our columnist and Eagle Point Credit Management founder Thomas Majewski looks at how CLO equity can benefit pension funds

They said it: “Occam’s razor, the marshmallow test and the Pareto principle – what do they have in common?”
The simplest solution is often the best solution, delayed gratification and the 80/20 rule; these can all be used in the assessment of CLO manager performance

Past returns: KKR CLO was sign of things to come
Five years ago in Creditflux, we reported on KKR Credit pricing a US CLO that complied with European risk retention rules, in what was believed to be one of the first deals of its kind

We are not structured finance investors – we are corporate credit specialists
Fair Oaks' Miguel Ramos-Fuentenebro takes our credit quiz

They said it: regulators are using The Big Short as their frame of reference
The LMA’s Nicholas Voisey describes why it’s difficult to campaign for the European loan market

Points up front: accountant by day, goaltender extraordinaire by night
Golub's Scott Foster shows off his reflexes in an incredible debut for the NHL's Chicago Blackhawks

Points up front: traders are dedicated, no matter how hot it gets
When a fire alarm goes off, you should make your way to the nearest exit: unless you’re a trader

Long-term lock-up funds work very well in private equity, but CLO equity has greater needs
Beware of applying to CLOs fund structures that work for other asset classes, such as private equity. The result may be lost value

Tech is benefiting from all the trends that are hurting retail
CBAM's Don Young takes our credit quiz