Tastes change in secondary trading
Our analysis of the secondary market shows that, since 2013, appetite for CLOs run by tier one managers persists through market dips and rallies.

B-wic round-up: secondary CLO market is looking more and more like new issue
2017 and 2018 CLOs flooded the secondary market last week, with bonds referencing Ares Management, LCM Asset Management and Napier Park Global Capital going on sale

US CLO round-up: triple A notes come in all different shapes and sizes
CLO triple As priced at varying levels this week with an 8.5bp gap between the tightest and widest prints

Ares opts for senior and junior triple A notes as it prices new US CLO
Ares priced its first new CLO of the year in the US market yesterday, which scored the second tightest triple A spread

Ares leads the way as US tax reform prompts corporate structure rethink
Ares Management has announced its conversion from a partnership tax structure to a corporation or C-Corp – and it’s likely other managers will follow suit now that US taxation law changes – the most comprehensive tax reform in more than three decades – have taken effect

Ares Reit reports year-on-year dip in earnings amid leadership change
The Ares Commercial Real Estate Corporation has announced a changed in leadership – and has reported mixed results for fourth quarter 2017

Price talk tightening suggests next Ares CLO could set new record tights
Price talk has tightened significantly on Ares Management's forthcoming new issue CLO, suggesting the deal could be on course to set a new record spread

Ares makes dramatic return to European CLOs with tightest ever triple A print
Ares Management has priced its first new CLO in Europe since December 2016, according to market sources

Ares prepares its first new issue US CLO of 2018
Ares Management is issuing its first new issue CLO in the US market of 2018 in a $713 million transaction

US five-year CLO reset spreads break 100bp barrier
US CLO reset spreads reached new tights yesterday as Ares Management restructured one of its 2015 deals

Ares plans to reset 2015 CLO, according to presale reports
Ares Management is preparing to reset one of its 2015 CLOs according to reports from Moody's and Standard and Poor's

Ares switches to C-Corp structure as it announces "record year" in earnings release
Ares has announced a change to its corporate tax status in an earnings release that described 2017 as “a record year” for the firm

Ares plans to launch first new European CLO since 2016
Ares Management is preparing to issue its first new CLO in Europe since December 2016, market sources say

Ares and Varagon expand direct lending JV to $6.4 billion
Ares Capital and Varagon have expanded their joint venture’s investment capacity by $3.5 billion

Ares's $3.4 billion direct lending fund raise brings hordes of new investors
60% of the investors in Ares's new direct lending fund are new to the firm, according to an announcement by the firm

Ares promotes credit veteran to CEO
Ares Management has appointed Michael Arougheti as its chief executive officer. Arougheti is one of the founders of Ares and is also a partner in the firm’s credit business

Ares prices new issue US CLO with funding costs of just 1.4%
Ares has priced its 14th CLO transaction of the year, known as Ares XLVI

California CLO manager markets its fifth new CLO of the year
A west coast manager is planning its fifth new CLO of the year and has hired Morgan Stanley to arrange the deal

Ares keeps up direct lending growth and plans new credit fund launch
Ares Management’s credit business just keeps growing, with the firm planning a new fund launch and a continued push into European direct lending, according to a recent results presentation

Indicus co-founder parts company with Ares
An experienced CLO specialist has left Ares in London, sources say

Ares prices triple As at 117bp in $658 million US CLO reset
Ares priced its 11th transaction in the US CLO market yesterday

Partner leaves Ares's credit group after almost 20 years at the firm
A former fund and CLO portfolio manager, who had spent the last couple of years working in a business development role, has left Ares's Los Angeles offices    

US managers win South Korean investment
Ares, Audax and KKR are among the cluster of fund managers that have put their hearts and minds into marketing credit funds in Seoul – with great success

Credit fundraising hits $11.1bn in September
$11.1 billion was raised for credit-orientated strategies in September, according to Creditflux’s fundraising tracker. Just over half of this ($5.6 billion) comes from direct lending funds

Adams Street adds Ares private credit specialist to its New York office
Adams Street Partners has expanded its private credit team with the addition of former Ares Management official Justin Lawrence.