Credit funds at a glance

Head of business development leaves Redding Ridge
Redding Ridge Asset Management’s head of business development has left the firm after three and a half years in the job

Apollo CLO and CSO specialists earn promotion to partner
Apollo Global Management has promoted two members of its global structured credit team, according to market sources

Redding Ridge prices new CLO almost fully ramped
Redding Ridge Asset Management opted for delayed draw double B notes yesterday with the pricing of its second new issue US CLO of 2019 and fifth new issue globally

Global CLO b-wic round-up: volumes jump as investors get their triple A fix
The US CLO secondary market brought over $1.2 billion in total listings last week with the main driver behind last week’s supply being an increase in US CLO triple A bonds and an anchor equity position.

Pretium's D'Angelo to join Redding Ridge as he reunites with former Aladdin CLO PM
John D’Angelo has left Pretium Credit Management ahead of a move to the CLO management business established by Apollo Global Management in 2016, Redding Ridge Asset Management, according to Reuters

Apollo fee earnings rise 9% in Q2 as structured credit boosts portfolio
Apollo Global Management’s credit portfolio increased 4% quarter-over-quarter to $201 billion, driven by growth in affiliated life insurance firm Athene, as well as corporate credit and structured credit

Global CLO b-wic round-up: control equity hits the market as secondary market picks up
The CLO secondary market in both Europe and the US brought healthy volumes last week. There was €174.9 million listed in the European CLO secondary market, while the US returned a with just over $600 million in CLO b-wics. 

Mid market CLO league tables: Natixis and Golub reign supreme
June brought just three middle market CLOs pricings with two new issues and one refinancing that totalled $1.6 billion, bringing the year-to-date volume to $9.9 billion. Natixis is the leading arranger, having a hand in 38% of deals

Apollo's MidCap returns to mid market CLOs with $509 million deal
MidCap Financial priced its first middle market CLO of the year yesterday, ending the manager’s 11 month hiatus

Apollo reworks 2012 CLO for second time
Apollo Global Management teamed up with Citi on Friday to rework a 2012 vintage CLO for a second time

CLOs at a glance

A round-up of CLO performance

Control equity in two US CLOs changes hands in secondary market
Control equity in three US CLOs was up for sale yesterday at 10am New York time, according to market sources

CLO refi spreads shift wider as Apollo reworks 2016 deal
The US CLO refinancing market has moved drastically wider over this month, suggesting that the CLO term curve is flattening out

Apollo draws in $2.36 billion for structured credit fund
Apollo Global Management is edging towards a final close for its fourth structured credit fund

US CLO league tables: low volumes drive big changes at the top
Despite a quiet month, September brought quite a shuffle in the US CLO league tables with new a plethora of new market leaders

Apollo prices $831 million refi of 2013 CLO
Apollo Global Management has launched itself to the top of the 2018 US CLO refi league table after pricing 2018’s largest refi transaction

American Beacon teams up with Apollo for credit interval fund
Regulatory filings reveal that Apollo will allocate assets across four main areas: US corporate credit, global corporate credit, structured credit and real estate credit

US CLO league tables: CSAM aces it to take top spot in new issue reshuffle
Carlyle Group now leads the CLO market on two fronts with the firm moving into top spot in the 2018 US CLO rankings, adding to its position as a market leader in Europe

Credit drives strong returns for five of the largest asset managers in the business
Carlyle is close to hitting its ambitious fundraising target; direct lending has been kind to Ares; and Och-Ziff has decided to shed its US CLO risk retention stakes after exiting its financing agreements

No end to Apollo's appetite for refis as manager reworks eighth deal in 2018
Apollo Global Management’s CLO refinancing spree shows no signs of slowing down

Apollo's MidCap unit takes CLO AUM beyond $2.5 billion
MidCap Financial has taken its CLO AUM beyond $2.5 billion just 17 months after pricing its debut CLO in February 2017

Apollo restructures 2016 CLO in refinancing
Apollo Credit Management has refinanced and restructured its 2016 CLO ALM XVII, according to market sources

Apollo prices short-dated CLO reset worth $1.22 billion
Apollo Global Management priced a $1.12 billion reset of ALM XVI today