14% of 2016 CLOs left waiting amid refinancing wave
One of the most prominent CLO market trends this year is the relative decline of the refi compared to previous eras, as wider spreads make these often costly transactions less economical. But one vintage has stood out as an exception: CLOs issued in 2016 have driven 65% of refi activity this year

US CLO round-up: summer blues don’t weigh on the issuance parade
Summer is shining on US CLOs as $3.8 billion worth of activity entered the market last week. The flow brought four new deals (including one middle market deal), one reset and two refinancings.

CIFC becomes second CLO manager to issue five new deals in 2019
CIFC Asset Management on Friday became only the second manager to price a fifth new US CLO of 2019, according to market sources

CLO pipeline: US takes up baton after European July sprint
The US CLO market is ready to kickstart issuance in August as nine deals have been added to the running pipeline.

CIFC preps inaugural distressed debt fund
The New York-based firm is the latest in a line of managers to have begun fundraising for an inaugural distressed debt fund

Rival manager’s warehouse contributes to new CIFC US CLO
CIFC Asset Management has had a productive year after pricing four new issue US CLOs but sources say that the manager’s latest deal, CIFC Funding 2019-IV, owes a lot to another CLO manager.

CLOs at a glance
A round-up of CLO performance

Credit funds at a glance

Fund performance

CLO pipeline: newcomer emerges with unusual transaction
The US CLO pipeline continues to fill up, with 20 new issue US CLOs featured and another 17 deals set to be refinanced.

CLO pipeline: deal flow picks up as Amherst and SocGen work on mandates
This week’s CLO pipeline looks very healthy in the US broadly syndicated loans CLO market with Amherst Pierpont and Societe Generale among the firms working on mandates

CIFC becomes first manager to print four new issue US CLOs in 2019
CIFC Asset Management today became the first CLO manager to price four new issues in the US market this year after executing a deal via BNP Paribas

CLO pipeline: new business and manager returns add ray of light as arbitrage clouds the picture
The near-term CLO pipeline is shrinking amid familiar cries that the equity arbitrage is challenging. Adding to constraint fundamentals, the usual summer torpor is also approaching.

Seriously, the CLO arb is difficult right now

Seriously, the CLO arb is difficult right now
We know the arbitrage for CLO equity is never perfect, but the arb progressively deteriorated through 2018. Since January, the picture has worsened further after a brief respite in December

US CLO league tables: Octagon and Citi lead the way
April was the busiest month yet in the US CLO market this year with $16.42 billion in transactions, beating February by around $500 million. 

CIFC prices its third US CLO of the year
CIFC Asset Management priced a $605.4 million CLO, CIFC Funding 2019-III, last week via Citi

Former CIFC co-chief executive joins DFG
DFG Investment Advisers has hired the former co-chief executive officer of CIFC Asset Management

Large, liquid loans aren’t always perfect
CLOs could be forgiven for rushing to buy Refinitiv loans — after all it was the biggest LBO since the crisis. But some large managers have abstained, while others have bought opportunistically

Former CEO of CIFC establishes new CLO management firm
Peter Gleysteen, founder and ex-CEO of CIFC Asset Management, is launching a new private credit firm named AGL Credit Management

CIFC becomes second CLO manager of 2019 with two US new issues
CIFC Asset Management on Friday became the second CLO manager to price a second US new issue in 2019

CIFC casts wide net as it prices upsized US CLO
CIFC Asset Management went down the widely-syndicated route after pricing CIFC Funding 2019-I

CIFC launches CLO fund with investment grade mandate
CIFC Asset Management is back in the market with yet another CLO-focused fund – this time, aimed at investment grade opportunities

CIFC lines up new $505 million CLO via Morgan Stanley
The first tier manager is set to hit the market for the first time in 2019, after a busy 2018