CLO equity price decline represents compelling buying opportunity — CIFC
Over the next 12 to 24 months, CLO equity could generate returns comparable to those seen in 2023-2024, CIFC believes

New Euro CLOs price from CIFC, Investcorp, and CQS
CIFC and Investcorp have issued new European CLOs with triple-A paper priced at 120bps over Euribor, while CQS priced its first new Euro deal of the year on the same day as its first US issue 

European reset benchmark lowered to 123bps with CIFC pricing
The reset benchmark now matches the current tight for new European issues, with the 2020-vintage transaction reset via Morgan Stanley

CIFC matches current Euro AAA tight with latest new issue
The EUR 406m offering matched Blackstone's Ringsend Park CLO with its triple As issuing at Euribor plus 131bps

CIFC prices new Euro CLO with delayed draw feature extended to double As
Texas Debt Capital Euro CLO 2025-I priced its triple As at Euribor plus 118bps, putting it among the tightest European new issues seen recently

Portfolio manager moves to CIFC from AlbaCore
A London-based CLO PM has begun a new role in CIFC’s European credit team after five years at AlbaCore Capital

CLO market wrangles over direction of liability spreads after August volatility
Investors are seeking to get wider spreads on CLO primary deals, but Blackstone and other managers are trying to keep firm on US triple-As at 135bps

New European CLO from CIFC reinforces narrowing trend
Continuing a busy period of issuance for the market, CIFC has priced a European CLO setting a new triple-B benchmark

CIFC and TRS Texas pivot to Europe for fourth CLO in partnership
CIFC CLO Management III, working with Barclays as arranger, priced Texas Debt Capital Euro CLO 2024-I on Friday.

DWS grows CLO team in Europe with senior hire
DWS continues to build out its nascent CLO team with the recruitment of a well known CLO portfolio manager

Funds round up: private credit reaches for retail
A number of new credit funds launched last month to round out 2024's first quarter, including ones in Europe aimed at retail investors

CIFC launches new multi-strategy credit UCITS fund
New York-based alternative asset manager CIFC has launched a new liquid UCITS strategy with an emphasis on sub-investment grade fixed income investments

CLO funds are hot in summer as they take nine spots in top 10 (Fund performance)
CLO funds took the lead through summer as the returns of the category index reached 1.88% and 3.18% in June and July, respectively. Both months saw a CLO fund as the top performer — Sound Point Meridian in June, and Oxford Gate Master Fund in July.

Beneath the triple C: Winter is coming for CLOs as downgrades outstrip upgrades
Both US and European issuers have felt downward pressure from the rating agencies as we head towards the end of the year, with downgrades to triple C now firmly outpacing upgrades out of it.

Beneath the triple C: Stormy October hits CLOs with rising tide of downgrades
After a slight respite in the pace of downgrades over the summer for CLOs, October brought renewed momentum as macro-economic pressures - primarily high interest rate burdens for corporate borrowers and supply side inflation - became the recurring rationale

Credit funds at a glance (November 2022)
A round up of fundraising and people moves in credit

CLOs at a glance (November 2022)
A listing of CLOs that have priced in the last month

CLOs at a glance (October 2022)
A listing of CLOs that have priced in the last month  

Past returns: US firms become Euro CLO issuers
Five years ago in Creditflux we reported on CIFC Asset Management and Voya Investment Management harbouring European CLO ambitions as US issuers became accustomed to risk retention.

CLOs keep eyes glued to screen as Cineworld previews possible chapter 11
Cineworld, the UK-based cinema giant, has announced that a chapter 11 restructuring is among the options it is considering, in response to recent media speculation about a possible default

Ucits at a glance: Ucits see red in a tough June for returns
June marked an exceptionally tough month for Ucits funds, as none of those listed in the Creditflux database made it into the black

Credit Rendezvous: Investors try to avoid suplex city as recession and inflation reform tag-team
Credit investors getting ready to lock up against that familiar 1970s pairing of inflation and recession. But the hard-hitting tag team has picked up some new moves, causing floating rate outperformance to give way to underperformance; synthetic credit to outperform cash; and CLO terms curves to reshape into barely recognisable positions

Ucits at a glance: LBBW shines as Ucits take a turn for the worse
Ucits fund returns

CLOs at a glance (July 2022)
A listing of CLOs that have priced in the last month
 
 

   

Investors approve CIFC European CLO key person replacements
Control investors in CIFC CLOs have approved the two key person replacements for Dan Robinson and Damien Mount, proposed by the firm last month