York spins out CLO business with new equity partner
York Capital Management is spinning out its CLO business, forming a new strategic partnership with an investment firm

Bardin Hill sells European CLO business to HPS with head Snyder set to retire
Bardin Hill Investment Partners has sold its European CLO platform to HPS Investment Partners

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

European CLO manager puts platform up for sale
European CLO merger and acquisition activity is on the rise as a boutique manager puts its CLO platform up for sale

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

Cairn buys $2.5 billion European distressed debt manager
Cairn Capital has bought a $2.5 billion European distressed debt hedge fund manager, boosting the firm's assets under management to $8 billion

Asset management giant emerges as bidder for European CLO businesses
A large asset manager came close to adding European CLOs and direct lending to its product range with the firm emerging as a bidder on two asset management businesses

Fidelity steps into European CLOs with MeDirect deal
Fidelity International is breaking into European CLOs after striking a deal to acquire the CLO management team from MeDirect

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

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

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

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

MeDirect CLO team seeks spin-off from bank
The specialist credit team at MeDirect is looking for a strategic partner to spin off from the bank

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

Assured Guaranty to buy BlueMountain for $160 million
Assured Guaranty has agreed to buy BlueMountain Capital Management, as well as its associated entities, for $160 million