Owl Rock hits fundraising trail with follow up to BDCs
Owl Rock Capital is launching a new fund which appears to be in the form of a business development company, US regulatory filings reveal

Mid market CLO league tables: breakthrough as Owl Rock ends deal drought
After a barren April, mid-market CLO activity returned in May with Owl Rock pricing its second deal of the year

Mid market CLOs open for business as Owl Rock prices first new issue after covid-19 shock
The primary market for CLOs backed by loans to middle market companies is open for business with Owl Rock Capital today pricing the first new issue mid market deal following the coronavirus outbreak

Global CLO league tables - April 2020 YTD
Global CLO league tables - April 2020 YTD

Two US managers launch CLO funds geared towards dislocation
Tetragon Credit Partners and Octagon Credit Investors have become the latest managers to launch a CLO fund geared towards taking advantage of coronavirus-related distressed buying opportunities

ArrowMark prices static US CLO as spreads drift wider
ArrowMark Partners has priced a static US CLO with triple As at 250 basis points, matching the print from GSO's Stratus Funding 2020-1 (another static deal) at the start of April

CLOs price at par again as TCW joins select group of new issuers
TCW Asset Management today joined the ranks of CLO managers to issue since the coronavirus pandemic dislocated markets

ICG scores tightest euro CLO print of 2020
Senior CLO spreads tightened in Europe today as Intermediate Capital Group priced its latest new issue, with triple As clearing at 92 basis points over Euribor

Beneath the triple C: $1 billion of CLO credits take a dive
$957.9 million worth of loans held by CLOs suffered downgrades to triple C last month, with a further $442.1 million of existing triple C credits getting knocked lower still, according to the latest trustee reports on CLOi.

Banco Sabadell joins forces with Amundi
Banco Sabadell and Amundi have announced a long-term strategic partnership, in a bid to boost fund business in Spain  

'Speciality finance' gains momentum as US investors go deeper into private credit
Institutional investors are continuing to invest in niche, speciality finance strategies - including litigation financing and life sciences - following intense competition and overcrowding in US private credit 

CSAM launches first commingled fund geared towards CLOs
Credit Suisse Asset Management has launched its inaugural CLO equity fund, according to market sources, collecting nearly $150 million on a first close for the strategy

GSO adds turbo tranche feature to European CLO as part of reset
GSO Capital Partners has issued a novel single B-rated European CLO tranche that is designed to amortise quickly

Orchard targets CLO investments in fruitful year of fundraising
Orchard Global Asset Management is in the process of fundraising for its first CLO focussed fund, according to market sources. The firm is targeting the global CLO market and looking across the capital stack.

Global CLO b-wic round-up: control stake trades as junior notes come to the fore
The European and US CLO secondary markets produced high volumes of junior and subordinated notes last week. Over 30% of listings were rated as equity, single B or double B.

US loan trading: Caesars marches out of CLOs as Blackstone rolls in
With $158 million of its term loan leaving the hands of CLO managers, Caesers Entertainment was the most sold issuer in June

Global CLO b-wic round-up: Europe and US an ocean apart as flows reverse
Last week saw €102.35 million of European CLOs listed on the secondary market, only the second instance of 2019 with over €100 million of items put up for auction, but the US CLO b-wic market closed a strong month with a down week.

US CLO managers look to scale flat WALs in search of flexibility
The anticipation of a downturn in the credit cycle has made investors turn their attention toward document provisions that give CLO managers flexibility

Tetragon raises $430 million for new CLO equity fund
Tetragon Credit Income III closes with total commitments of $430 million

Euro CLO b-wic round-up: mezz is where the money is
This year, there has been one constant: junior mezzanine tranches have accounted for most listings on the secondary market

US CLO b-wic round-up: fixed tranches search for secondary value
US CLO b-wics brought a surprise last week as $51.25 million of fixed double A notes became available in the secondary market

Euro CLO b-wic round-up: triple A notes boost volumes
At first glance, the European CLO secondary market has matched its US counterpart with b-wic volumes peaking last week

Generali seeks high yield analysts in Milan as credit research head builds team
Generali Investments’ head of global credit research has relocated within the firm from Paris to Milan and is seeking hires to build a team in the Italian city

US CLO round-up: Unfazed by risk retention uncertainty, a busy market tests reissue and L-shape trends
Qualms about the future of risk retention regulations have not impeded a busy week in primary market CLOs, with managers dabbling in reissues, L-shaped deals and shorter non-calls

US CLO manager becomes fifth to opt for L-shaped risk retention strategy
A New York manager has become the first CLO manager fo the year to opt for the little-seen retention strategy