GoldenTree snaps up global award... again
Last year, GoldenTree was named Creditflux Global Manager of the Year. This year it repeated that achievement — but it also swooped for our US manager of the year and closed-end fund awards

CLO market turns to print-and-sprint deals as volatility spikes
EXCLUSIVE: Napier Park, TP Birch Grove, and BlackRock attempt print-and-sprint deals as the maths gets tougher; AGL and Blackstone pull off deals

Trump tariffs will materially impact credit, raise financing costs – Napier Park’s Jon Dorfman
The co-founder and CIO of the alternative credit manager discussed his concerns stemming from the recent economic and policy uncertainty on the latest edition of the 'Credit Exchange with Lisa Lee' podcast

Napier Park launches and successfully fundraises for captive CLO equity fund
Napier Park has launched its first global CLO captive equity fund and has already raised a sizeable amount

Fund performance: August provides much-needed relief for CLO funds
.August fund performance 

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

Hopes of full recovery quashed as credit funds struggle
Optimism about a prolonged recovery after credit hedge funds bounced back in March was dashed as 60% of funds in our database recorded negative returns in April.

Fund performance: Credit hits another bump in the road after March revival
There was more upheaval for credit funds in April, reversing the mini-recovery in March as 40% of funds made positive returns, a decrease on the 47% in March

Fund performance: Credit bounces back from February blues
March performance figures were a slight improvement from the market turn in February; 47% of funds made positive returns, an increase on 17% the previous month

Arb work pays off
With day-one arbitrage alone delivering projected CLO cash-on-cash returns of 20-25%, 2021 may have been the best year ever for equity investors — at least until CLO spreads began to widen  

Quarterly rankings: Wave of acquisitions reshapes CLO market
A wave of acquisitions and consolidation hit the CLO market in the first quarter of 2022, although the ripples have yet to alter Creditflux’s manager rankings

CLOs at a glance
A listing of CLOs that have priced in the last month

I’ll see your 2020 and raise you 2021
Discounted loans, Libor floors and bond flexibility helped make 2021 an even better year for CLO returns than 2020, as US CLOs distributed 15.54% and European CLOs paid 13.93% annualised

Napier Park promotes two senior employees to partner
Napier Park Global Capital has named two members of its team as partners

The Last Tranche with Napier Park's Secmen: tailwinds fuelling CLO market mask manager incompetence
In this episode of the Last Tranche, Serhan Secmen, head of US CLO investments at Napier Park Global Capital, joins to discuss how equity investors choose which managers to allocate to for the best long-term performance

CLO managers join forces as they line up behind SFDR
A plethora of European CLO managers have teamed up with regulatory reporting provider FinDox to form a working group focused on Sustainable Financial Disclosure Regulation (SFDR), sources tell Creditflux.

CLO Census results: Citi and JP Morgan still top in US but Jefferies breaks through in Europe
Citi and JP Morgan are the clear favourites in US CLO arranging – the pair are locked in a close battle for supremacy over deal volumes and they have been voted joint-best at US CLO execution, according to the results of Creditflux’s CLO Census

CSAM regains best manager throne
Upstart CLO managers overtook more experienced rivals at last year’s Creditflux Manager Awards, but CSAM and other large firms, such as PGIM, emerged victorious in London this time around

Fund performance: CLO funds outperform as two hit over 100% 12-months return
CLO funds swatted away the competition in April on their way to dominating our top 10 credit hedge fund return table after an upbeat month

Woah, we’re halfway there
Judging by the 2020 vintage, European CLO overlap is 50%. But varied approaches to holding bonds and the many loans managers turn down mean there are ways for issuers to outperform

Beneath the triple C: CLOs benefit as upgrades make for lighter triple C buckets
For the first time since the sell off in March last year, downgrades to triple C have come to a near-standstill

Moving fast pays off for hedge funds
2020 was an up and down year in credit, and credit hedge fund managers had to move quickly to capture opportunities from the dislocations that inevitably opened up

Fund performance: CLO funds pick up where they left off
New year, same funds leading the way with CLO strategies the top performers in January

CLO pipeline: snow business like the CLO business
CLO issuers are putting aside the cold snap and are warming up with a flurry of deals.