Credit funds at a glance (July 2021)
A round up of fundraising and people moves in credit

Deutsche Bank European CLO researcher joins Orchard as portfolio manager
Orchard Global Asset Management has hired from Deutsche Bank’s European ABS research team in a bid to grow its CLO investment business.

CLO pipeline: Man GLG resurfaces from six-year absence as deals exiting call-lock fill pipeline
CLO spreads have leaked out in recent weeks but deal economics are still favourable, encouraging managers to come back to the primary market for the first time this year

Napier Park resets debut European CLO
Napier Park Global Capital has reset its inaugural European CLO, Henley CLO I via Deutsche Bank

Deutsche Bank plugs gap as it hires US CLO syndication head
Deutsche Bank has filled a gap on its CLO syndication team by hiring from one of the most productive CLO teams in the business

Spire opts for unusual reissue of 2016 Euro CLO with capped triple A tranche
Spire Partners has taken the unusual route of reissuing a 2016 European CLO, Aurium CLO II

Antares prints largest new issue CLO for four months
Antares Capital priced the fourth largest new CLO of 2021 on Tuesday with the $806 million Antares CLO 2021-1

Deutsche Bank arranges third new US CLO of 2021 with $407.9m deal for Sculptor
Deutsche Bank priced its third new US CLO of the year

Barclays hires experienced CLO syndication official in New York
The former head of US CLO syndication at a bank has landed at Barclays

Spire European CLO features Euribor caps and tight single As
Euribor caps have made a comeback in European CLOs with Spire Partners' new deal, Aurium CLO VIII, the latest to feature such a tranche

Refi triple As widen as ICG prices partial European CLO refi
Intermediate Capital Group has refinanced the triple A notes on its 2014 European CLO, St Paul’s CLO X, with spreads wide of 2021 averages

Structurers tempted by buy-side perks amid CLO bonanza
Do you have experience structuring CLOs? If the answer is yes, then your skills are in demand, with asset managers keen to add CLO capital markets specialists amid the onslaught of CLO transactions that have taken place this year

They said it: "The CLO business continues to move forward... it is still going strong"
A spokesperson for Deutsche Bank says it is committed to US CLO new issues

NIBC takes ESG-scored European CLO tally to two with strong execution
NIBC has priced its latest ESG-branded European CLO, North Westerly VII

Deutsche Bank starts comeback by pricing first US BSL CLO of 2021
Deutsche Bank has arranged its first new issue US CLO of 2021, teaming up with MJX Asset Management to issue the deal named Venture 43

CLO triple As leak wider but mezz comes in as Carlyle, PGIM and KKR price Euro new issues
CLO heavyweights Carlyle, KKR and PGIM all took to the primary market on Friday pricing a total of €1.22 billion issuance

CLO pipeline: go long! new issues and resets push refis aside
The CLO market is ready to go beyond refinancings - after this year's opening blitz of those deals - into the longer tenored territory of resets and new issues

Beneath the triple C: CLOs benefit as upgrades make for lighter triple C buckets
For the first time since the sell off in March last year, downgrades to triple C have come to a near-standstill

CLO pipeline: Deutsche Bank and Carlson hit comeback trail
The CLO market is preparing to be very active in the coming weeks, as the issuance slow-down is set to be in the rear view mirror

Deutsche Bank commits to US CLOs with first 2021 deal set to price and plans to hire
Deutsche Bank is taking the loss of two officials from its US CLO business in its stride with a spokesperson for the bank telling Creditflux that it expects to price a deal next week and there are plans to hire this year

Natixis poaches New York-based CLO sales specialist from Deutsche Bank
Natixis has hired a CLO sales specialist in New York in a move which reunites two former Credit Suisse officials 

Head of US CLO syndication leaves Deutsche Bank
A CLO specialist with 17 years' experience at Deutsche Bank has left 

Blackstone reaches €2 billion European CLO volume with 2016 deal reset
Blackstone has reset a 2016 vintage European deal, Elm Park CLO, taking the manager's year-to-date volume in Europe to almost €2 billion

Axa IM combines single As in European CLO refi
Deutsche Bank arranged the € 274.7 million transaction, which cuts cost of debt by 31.8 basis points

BofA forecasts record European CLO volume in 2021 as another reset prices
Carlyle Group has become the first manager in March to reset a European CLO, while BofA estimates the European CLO market might break a new record in 2021