Issuer goes from debutant to zero in one year as PM leaves and CIFC swoops for sole CLO
A US CLO manager has gone from debuting in 2019 to having no CLOs under management as CIFC takes over its one deal

York Capital seeks CLO business sale after promising investors to refocus on them
York Capital Management is looking to sell its CLO platform, just weeks after penning a letter to investors promising to double down on the asset class

Stone Point and Wilton Re invest $100 million in Nassau
Nassau Financial Group says Wilton Reinsurance Company and Stone Point Credit have invested $100 million in its business through a new series of non-cumulative perpetual preferred equity

CLO M&A to pick up with underperformers at risk
CLO manager consolidation is expected to be elevated into 2021 as the market recovers from the aftershock of covid-19

Ares/Crestline CLO overlap jumps to 60% following Ares takeover, Fitch says
CLO acquirers have been busy converting purchased portfolios to their house-style, according to research by Fitch

Mount Logan completes mid market CLO acquisition for $3 million
Mount Logan Capital has completed the acquisition of management rights for two middle market CLO contracts from Garrison Capital. The firm disclosed in an announcement it paid $3 million for the transaction which included the two contracts plus ‘certain side letter agreements

Sun Life Financial buys 51% stake in Crescent
Sun Life Financial has bought a 51% stake in credit manager Crescent Capital Group as part of its push into alternative credit

Morgan Stanley to buy Eaton Vance for $7 billion
Morgan Stanley is set to buy Eaton Vance for an equity value of $7 billion as part of a broader push into wealth management

Canadian direct lender takes on US mid market CLO
Toronto-based Mount Logan Capital is set to acquire portfolio management rights to a middle market CLO issued by Garrison Investment Group named Garrison MML CLO 2019-1. Pending investor approval, Mount Logan would become the first Canada-based firm to manage a US CLO

Nuveen brings CLOs under one roof as Symphony takes on TIAA deals in rejig
Four TIAA US CLOs are being absorbed into its affiliate Symphony Asset Management as part of a streamlining undertaken by TIAA and its asset management business, Nuveen

Sun Life Financial in talks to buy Crescent Capital - report
Canadian insurer Sun Life Financial is said to be in talks to buy credit manager Crescent Capital, according to a report by Bloomberg

Cut! Cineworld’s cancelled merger boosts CLO OCs
Investors in Cineworld’s $1.9 billion term loan breathed a sigh of relief in July after the UK cinema chain cancelled its merger with Canadian firm Cineplex, with holders repaid in full, according to market sources

New asset management firm in Los Angeles acquires rights to 2014 CLO
The CLO management contracts for a 2014 CLO managed by Tortoise Credit Strategies has tranferred to Los Angeles-based manager Ducenta Squared Asset Management

Azimut purchases 20% stake in US private credit manager
Azimut Group has purchased a 20% equity stake in a $2.1 billion opportunistic private credit manager

Hildene to take over management of ground-breaking trups-style CLO
Hildene Capital Management is in line to take over the collateral management contract for the first trups-style securitisation since the financial crisis

Morgan Stanley IM completes Assurant CLO platform acquisition
Morgan Stanley Investment Management has completed the transaction to acquire Assurant’s US CLO management fee contracts, according to a notice to investors seen by Creditflux

Garrison BDC agrees to merge with Portman Finance
As part of the transaction, Portman will assume Garrison’s on-balance sheet CLO liabilities upon closing 

Pine Brook sells CLO firm WhiteStar
Pine Brook Capital Partners has sold its majority equity stake in CLO specialist WhiteStar Asset Management to Clearlake Capital Group

Mariner transfers CLO management rights to Orix following MBO
Mariner Investment Group has begun transferring the management rights to its CLOs to its parent company Orix Corporation USA, according to a regulatory notice. The move follows Orix's decision to sell Mariner to its executive board, but retain the leveraged credit business

Morgan Stanley IM takes lead in race for Assurant's CLO business
Morgan Stanley Investment Management has emerged as the front runner for Assurant’s US CLO business

Rapid CLO M&A activity on the horizon as fee deferrals pick up
A flurry of M&A deals could soon sweep the CLO market as management fee deferrals become an increasing pressure point for small CLO managers

Garrison exits CLO management after selling contracts to credit manager
Garrison Investment Group is exiting the broadly syndicated loan-backed CLO management business after selling three management contracts to Anchorage

Goldman Sachs in talks to buy minority stake in Permira
Goldman Sachs is looking to buy a minority stake in private equity firm Permira

Pretium buys Latigo to boost distressed capabilities
Pretium Partners has bought the investment management business of New York-based Latigo Partners, in a bid to expand the firm’s distressed debt and event-driven credit capabilities. Terms of the transaction were not disclosed

Past returns: Would-be CLO buyers turn sellers
Five years ago in Creditflux, we reported that the new generation of US 2.0 CLO managers were striving to grow their CLO AUM through manager acquisitions; namely, Benefit Street Partners and Triumph Capital Advisors, the pair having issued their debut CLOs in 2012 and 2014, respectively.