CLO triple A spreads could drop to 175bp as Oak Hill markets new deal
Oak Hill Advisors is marketing its first new issue CLO in six months and is seeking a triple A print of just 175 basis points over Sofr

CLO managers to jump into action as Covanta loan proposal omits spread adjustment
Covanta Holdings is the latest example of a US loan issuer looking to switch benchmark from Libor to Sofr, but without an accompanying credit spread adjustment

Oak Hill prints rare four-year reinvestment US CLO
Oak Hill Advisors priced a rare four-year reinvestment CLO on Thursday, partnering with Citi on the $400 million deal named OHA Credit Funding 13

CLOs at a glance (July 2022)
A listing of CLOs that have priced in the last month
 
 

   

US CLO primary triple As reach new wides as Oak Hill prices at 210bp
Oak Hill Advisors priced a new CLO on Monday with a triple A coupon of Sofr plus 210 basis points

CLO managers added to their pool of analysts last year: Fitch
CLO asset managers staffed up last year as primary issuance volume soared, with Fitch Ratings finding the average analyst team size increased from 16 to 17

LP round up: Oak Hill wins $300 million for strategic credit and Arcmont eyes fund four
US investors allocated nearly $1.5 billion to credit funds in May, with managers to win mandates including: 400, Accel-KKR, Advent, Arcmont, ArrowMark, Comvest, Edelweiss, Francsico, Oak Hill, Sixth Street and Sprott

CLOs at a glance (May 2022)
A listing of CLOs that have priced in the last month
   

Oak Hill gets off mark in 2022 with first CLO since acquisition
Oak Hill on Thursday priced its first new US CLO of 2022

LP round up: Oak Hill wins $3bn mandate as credit allocations near $10bn in March
Institutional investors revealed over $9.5 billion of allocations to credit funds in March. Oak Hill Advisors walked away with the largest mandate, as US heavyweight pension Calpers allocated a whopping $3 billion across several of its funds

LP round up: Fidelity wins big, Pacific retains loan mandate, pensions eye distressed
The month also included one CLO fund commitment, one high yield manager search, one finalised US loans mandate and one $400 million multi-sector fixed income managed account mandate

Credit funds at a glance (March 2022)
A round up of fundraising and people moves in credit

Oak Hill hires head of ESG in New York
Oak Hill Advisors has hired its first head of ESG and sustainability 

Carlyle and Oak Hill give $50 million upsizes to CLOs amid resets
Carlyle Group and Oak Hill Advisors each reset a legacy CLO on Monday, with both managers opting for a substantial upsize of the original deals

Gapstow expects strategic deals as credit manager M&A volume slumps to $120 billion
M&A volume involving credit asset managers dropped last year with total target value assets under management slumping to $120 billion from $149 billion in 2020 (and $254 billion in 2019), according to Gapstow Capital Partners

Oak Hill issues tight double Bs in largest CLO in years
Oak Hill Advisors priced its largest CLO in over two years on Friday and the fourth largest in its history as a CLO issuer

LP round up: no Stoptober as investors allocate $5 billion to credit
US institutional investors allocated $5 billion to credit funds in October, with Oak Hill and Pimco among the biggest mandates    

T Rowe Price to buy Oak Hill for up to $4.2 billion
Oak Hill is set to become T Rowe Price’s private markets platform, led by Oak Hill’s chief executive officer Glenn August

Four CLO managers reset or reissue $2 billion worth of CLOs
CBAM, Marble Point Credit Management, Oak Hill Advisors and Sound Point Capital Management have each reset or reissued a CLO, with the four deals totalling over $2 billion

Global CLO trading lab: bank sells $834 million triple As in quarterly reallocation as hedge fund trades CLO equity
Thursday’s secondary CLO market was the busiest of 2021, with over $1 billion of US CLOs on offer. This featured an enormous b-wic worth $834.3 million, where sources have told Creditflux of the bank behind the aucton. While a large credit hedge fund is said to have sold out of control CLO equity 

Vibrant hires to structured credit team in New York
Vibrant Capital Partners has hired a vice president to its structured credit team

CLO reset surge extends with over $1.7 billion pricing on Friday
CLO reset supply was elevated for a second consecutive day on Friday as $1.7 billion priced across four deals

Oak Hill upsizes 2016 CLO by $53.9 million
Oak Hill Advisers paired with GreensLedge on Friday to reset a 2016 CLO, OHA Credit Partners XIII

Global CLO trading lab: quality and optionality shine as 2020 and 2019 mezz trades up
The primary and secondary CLO markets are moving in tandem with both markets drifting wider amid a wealth of supply

Not all resets created equal as some managers opt to keep triple C exposure high
A split is emerging in the CLO market, with some managers choosing to keep triple C concentrations elevated following a refinancing or reset transaction. As part of the trend, which began this month, some deals even refinanced while being in breach of portfolio concentration limits, typically set at 7.5% by rating agencies