Investors opt for debt as alternative to secondary sales to generate liquidity
Investors are increasingly seeking financing as an alternative to selling their fund stakes on the secondaries market

LP secondaries sales can create risk to subscription lines – Fitch
However, a diversified limited partner base and lower advance rates for more concentrated funds can help mitigate losses, a report says

European CLOs back on track for record year, but caution remains – Global ABS panellists
Panellists at this year’s Global ABS conference in Barcelona say European CLO issuance has recovered from its April hiatus – but concerns remain, especially over lack of leveraged loan supply and deteriorating credit quality

Apollo, OMERS Ventures and banks back Octaura as fintech firm plans CLO trading launch
The fintech firm has raised USD 46.5m in an oversubscribed funding round

Defined benefit plans shift focus to private credit, secondaries - NEPC
Some corporate defined benefit plans are shifting their private market allocation to favor shorter-duration strategies as part of a de-risking plan

US CLO market strengthening on Trump easing trading tensions
EXCLUSIVE: Leveraged loan prices also up, makes following AGL’s print-and-sprint CLO more difficult

Generali Investments, Partners team up on private credit secondaries fund
Generali Investments’ debut private credit secondaries fund will invest globally and is available to professional investors

Blackstone, BlackRock among managers attempting “print-and-sprint” CLO deals
EXCLUSIVE: Around five CLO managers are attempting to issue deals that take advantage of market dislocation

Golub launches direct lending continuation vehicle
GP-led secondaries deals involve a manager rolling existing investments into a new vehicle rather than returning capital to investors as originally planned

Wild volatility drives spike in secondary market activity, as primary market hits the brakes in Europe
EU ABS weekly digest: primary ABS and CLO markets hit the brakes, while the secondary markets saw a flurry of BWICs hit the screens in Europe

Trump's tariff U-turn sparks cautious tightening in secondary
ANALYSIS: European CLO market saw little forced selling, more BWIC activity with some percentage of DNTs

CLO market stabilises after Trump’s tariff reversal
ANALYSIS:Investor sentiment has moderated after the US president backed down on tariffs, but the full effects will take a few days to emerge

BWICs dominate CLO, ABS secondary activity as primary quietens
EXCLUSIVE: A flurry of BWICs hit screens this week, offering both CLOs and ABS, though some did not trade in Europe

Janus Henderson CLO ETF sees USD 1bn outflow since tariff-induced volatility
The fund saw a drop of over USD 585m on Monday, the largest single-day withdrawal ever, as markets are roiled by tariff uncertainty  

Pantheon raises USD 5.2bn for senior debt secondaries
The latest fund, Pantheon Senior Debt III, was oversubscribed as interest from the insurance channel grows

US CLO market on pause as traders seek bottom
Market participants stare at screen trying to understand the volatility and new paradigm

European CLO market braces for issuance slowdown amid tariff fallout
European CLO spreads are widening “by the minute” in early Monday trade, and deal activity is expected to slow as many “resets off the table”  

Partners Group launches dedicated private credit secondaries effort
EXCLUSIVE: The firm already has experience in private equity secondaries, infrastructure secondaries and real estate secondaries

US CLO and leveraged loan market roiled by dramatic Trump tariffs
ANALYSIS: Leveraged loans and CLO fell lower in the aftermath's of President Donald Trump's new tariffs 

European CLO market weakens on shock US tariffs and trade war escalation
EXCLUSIVE: Traders in "price discovery mode" with CLO BBs down about 25bps points, and BBBs a point or more, while others see less of a decline in morning

European structured finance market bifurcates as ABS holds its ground, while CLOs widen
CLO secondary spreads in Europe roiled by market volatility, geopolitical uncertainty and contagion from US CLOs

CLOs remain active in secondary market for second week as investors anticipate macro volatility
Busy week for CLO BWICs as investors brace for volatlity and look to crystallise profits, according to market sources

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

European CLO double-B spreads hit 2024 low, signalling investor confidence
European CLO double-B spreads are falling lower, hitting year-to-date tights for both new issue and reset deals in the past week. Investors are waving off worries about a potential economic slowdown and opting for primary deals over secondary paper.

Private credit firms begin creating desks for push into secondary trading
A number of private credit firms are looking to push into secondary loan trading, a signal that the USD 1.7 trillion asset class is perhaps beginning to mature and resemble other fixed income markets.