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

TCW launches 'first' ESG-labelled structured credit fund in the US
TCW has launched what it claims to be the first dedicated structured credit fund with an ESG-label in the US

GoldenTree, Steele Creek and TCW hit primary CLO market to rework legacy deals
GoldenTree Loan Management, Steele Creek Investment Management and TCW Group all took to the CLO primary market on Friday to rework legacy CLO transactions

August breaks historic trend with busiest month for CLOs
The US CLO market defied conventional wisdom in August by notching up its busiest month of new issuance ever

TCW resets twice-AMR refinanced 2019 CLO
TCW Asset Management has reset a 2019 CLO that it had previously refinanced twice via applicable margin reset auctions

CLOs at a glance (July 2021)
A listing of CLOs that have priced in the last month

TCW prints second CLO since forming Jefferies and Kennedy Lewis partnership
TCW Group has brought its second CLO via Jefferies since forming a partnership with the bank and Kennedy Lewis late last year

TCW resets 2020 CLO for a second time
TCW Group completed a historic transaction on Monday by resetting a post-covid CLO for a second time, according to market sources

TCW scores tight with first CLO since Jefferies and Kennedy Lewis partnership
TCW Group has priced its first CLO since forming a strategic investment agreement with Jefferies and Kennedy Lewis

TCW CLO tranches digitally refinanced for second time
TCW CLO 2019-1 AMR was digitally refinanced for the second time today following the third successfully cleared applicable margin reset auction

Credit Rendezvous: heading for homes
Fund managers in structured credit, real assets and distressed are bullish on the prospects for residential housing in 2021. Elsewhere, niche royalty-based strategies are in favour and although a CLO repricing wave is expected, it may not be easy to execute resets. For more, read our 13-page quarterly report on credit. 

Global CLO b-wic round-up: Junior tranches rally amid heavy supply, including portfolio liquidation
The US CLO secondary market rally is showing no signs of slowing down after a week of over $1 billion worth of bonds was listed and well absorbed, according to market sources. The European market also had a roust week with over €300 million of paper up for grabs, although the market stayed generally flat with some tightening in double and single Bs

TCW enters CLO equity partnership with Jefferies and Kennedy Lewis
TCW Group has entered a strategic investment agreement with Jefferies and Kennedy Lewis to support future CLO issuance

TCW completes first reset of 2020 CLO and adds double Bs
TCW has become the first manager to rework a 2020 vintage CLO after teaming with Jefferies to reset its April transaction named TCW CLO 2020-1

US CLO league tables: refis return as Apollo and Citi maintain leads
US CLO monthly issuance rose above $8 billion in July for the first time since the coronavirus pandemic wreaked havoc across the globe

Single A CLO investors fight volatility as market widens
Two single A-rated CLO tranches appear on a b-wic due at 1pm New York time Tuesday, after investors in the volatile rating band faced another week of widening spreads

Natixis adds to CLO refi resurgence as it cuts funding costs for TCW
Natixis has priced the second CLO refinancing amid the coronavirus pandemic, bucking the trend by helping managers lower their funding costs despite the wider spread environment

It’s all going to plan
Whether managers are relaxed because they can make up losses later, or are putting more money into their deals, panellists on the Creditflux West webinar weren’t panicking about OC breaches

LP round-up: Champaign pension raises a glass (or bucket) to private credit
Institutional investors allocated over $600 million to 11 managers this week, according to board documentation seen by Creditflux

Global CLO b-wic round-up: double Bs lead the way as rally endures and drags equity with it
The CLO secondary market continued its hard rally last week as prices rose across the whole asset class with double B rated CLO bonds leading the charge tighter

TCW targets $1 billion for talf fund and attracts two pensions
Two pensions have allocated a total of $150 million to TCW's TALF Opportunities Fund, managed by TCW Group 

Minnesota pension's 2020 credit allocations hit $1 billion
Minnesota State Board of Investments has earmarked $400 million across to two credit managers in a private market update. The commitments mark $1 billion allocated to credit in 2020 by the pension

CLOs price at par again as TCW joins select group of new issuers
TCW Asset Management today joined the ranks of CLO managers to issue since the coronavirus pandemic dislocated markets

TCW looks to price static US CLO with triple As at 230bp
TCW Asset Management is the latest manager to test the market for new CLOs amid the coronavirus crisis, with the firm targeting a Wednesday pricing date for its new deal named TCW CLO 2020-1