The Last Tranche with Sound Point's Desai: the wrong CLO equity investment strategies will see negative returns
In this episode of The Last Tranche, Ujjaval Desai, head of structured products investing at Sound Point Capital Management, shares his ideas about the investment opportunity across the CLO equity universe

Sound Point/Assured CLO overlap to increase but no credit concern, says Fitch
 The firm's Fitch-rated CLOs had an average 37% portfolio overlap as of April, based on based on obligor count

CLO rankings: manager AUM, advisory firm and trustees Q1 2023
Two acquisitions close to shake up the top and Dechert takes early lead over Milbank in manager counsel rankings

Sound Point to take on Assured's asset management business in new partnership
Assured Guaranty and Sound Point Capital Management have struck up a partnership, according to an announcement, which will make Sound Point the fifth largest CLO manager globally.

CLO M&A hits new heights with anticipated Assured deal
Last year saw a record M&A volume centred on credit asset managers, with a study by Gapstow revealing the total assets under management of acquired firms was $326 billion, compared to $140 billion in 2021.

Sound Point holding CLO M&A talks which could catapult it to fifth-largest manager
Sound Point Capital Management is locked in talks with a large, global CLO manager over a deal that could take its CLO AUM north of $36 billion

Sound Point prints its first new CLO in 11 months
Sound Point Capital Management returned to the CLO primary market on Monday to print its first new CLO in 11 months

Polus 2022 European CLO tops Fitch ESG ranking
Cairn CLO XV has scored the highest ESG score among Fitch-rated European CLOs

CLO managers find safety and return potential in IG
An investment grade bond might not seem the most suitable candidate for a CLO portfolio, but managers are increasingly going up the capital structure as they brace for a recession.

Global CLO league tables - August 2022 YTD
Global CLO league tables - August YTD

Euro CLO league tables: gear shift brings flurry of new issues before summer break
After a slow June, the European market picked up its pace in July with managers eager to price deals before the summer lull 

CLO arrangers take down triple As to get European deals completed
European CLO arrangers are taking down large chunks of triple A paper to get deals over the line amid market volatility, according to market sources. Others, meanwhile, have committed to investing in triple As to secure future mandates

We can cope with downgrades again

Sculptor fills vacancy by hiring US CLO structuring and origination head
Sculptor Capital Management has filled a vacancy that opened up after Peter Polanskyj left in April having hired a CLO structuring specialist from another CLO manager 

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

Sound Point breaks one month European CLO market silence as pipeline builds
After the longest pause in the European CLO primary market since December 2018, Sound Point has broken the silence with a static new issue while other managers are exploring static and print and sprints to get deals done

Sound Point explores European static CLO with turbo tranche
Sound Point Capital Management has opted to explore a static structure for its latest European CLO, in the latest sign of managers trying to be innovative to get the market moving

Sound Point plots first US direct lending fund following CVC acquisition
Sound Point Capital Management is looking to fundraise for its its first US direct lending fund since acquiring CVC’s US direct lending unit

CSAM does the CLO awards double
Winning the Creditflux Manager of the Year award is a feat in itself. Winning it back-to-back in such different markets is an outstanding achievement — and CSAM can take great pride in it

We’ll get through this awkward patch
Wide liabilities have made pricing CLOs trickier in the past few months. But speakers at Creditflux’s CLO Symposium were optimistic that the arbitrage is OK — so long as you can place those triple As

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

Sound Point promotes duo to lead US CLOs as veteran PM steps down
Sound Point has allocated responsibility for the US loan and CLO platforms to the pair as lead portfolio managers

Euro CLO league tables: primary issuance shuts down amid extreme market volatility
European CLO issuance initially picked up in February with €7.82bn in total pricings, compared to just €2.44bn in January, before extreme market volatility preceding Russia’s invasion of Ukraine halted the primary market.

Global CLO league tables - February 2022 YTD
Global CLO league tables - Feb YTD