Beneath the triple C: Winter is coming for CLOs as downgrades outstrip upgrades
Both US and European issuers have felt downward pressure from the rating agencies as we head towards the end of the year, with downgrades to triple C now firmly outpacing upgrades out of it.

Investcorp to buy Marble Point as it rejuvenates US CLO business
Investcorp has agreed to acquire US CLO manager Marble Point Credit Management

Eagle Point and Investcorp are latest CLO firms to target SRTs
CLO investors and asset managers are increasingly warming to significant risk transfers (SRTs), with Eagle Point Credit Management and Investcorp Credit Management two recent examples

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

Investcorp prints Nochu-anchored Euro CLO with triple As at 160bp
The deal marks the return of Japanese bank Norinchukin to the European CLO new issue market

European CLO market set to reap rewards from Harvest as Nochu returns
Prolific CLO triple A investor Norinchukin is set to make its grand return to European CLOs with the Japanese bank providing anchor triple A investment in Investcorp’s forthcoming new issue

Investcorp prints lesser-spotted four-year reinvestment US CLO
Investcorp Credit Management has adopted a rare four-year reinvestment structure for its latest US CLO named Jamestown XVIII

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

Packaging company Schur is painful for European CLOs
The dramatic fall in loans taken out by Austrian flexible plastic packaging manufacturer Schur Flexibles has shocked CLO managers. The firm is hiring PJT Partners and Allen & Overy ahead of a potential restructuring

Credit Rendezvous: the upside of inflation
It is clear, inflation is not transitory and central banks are acting with several interest rate hikes likely in store for the US this year. That makes loans and CLO debt tranches attractive, but there could be opportunities beyond these floating rate assets

Investcorp hires senior official to lead new Los Angeles office
The firm has expanded its US presence in the west coast and has hired a senior official responsible for growing investor relationships in the region

Euro CLO league tables: Upstarts Jefferies and Palmer Square fall just short of market leaders
ABC as easy as 1, 2, 3: Apollo leads new issuance as Barclays and CVC emerge as overall leaders, despite the efforts of newcomers Jefferies and Palmer Square. The European CLO market had a record year in 2021 as overall issuance fell just €3.2 billion short of €100 billion, more than double the previous record set in 2017 of €45.7 billion and a 325% increase on the coronavirus-impacted market in 2020

Euro CLO league tables: Record new issuance month as CVC and Barclays jump back to top
November set yet another record for the European CLO market as managers priced €6.3 billion of new paper, the most in a month in the 2.0 era

Investcorp issues second new US CLO of the year
Investcorp Credit Management priced its second US CLO of the year on Tuesday, bringing its issuance volume for 2021 to $764 million

Investcorp reworks 2020 European CLO via BNP Paribas
BNP Paribas arranged the €443 million transaction, which cuts the CLO’s cost of debt by over 18 basis points to 190.3bp

Tikehau snags ex-Investcorp CLO veteran to bolster global structured credit business
Tikehau Capital has hired the former head of Investcorp's US credit business to a newly created role of partner and chairman of its global structured credit strategies

Investcorp passes €3 billion 2021 volume with new issue via Barclays
Investcorp Credit Management has taken its European CLO 2021 volumes above €3 billion after pricing its second new European CLO of the year named Harvest XXVII yesterday

Investcorp leaves double A tranche untouched in Euro CLO partial refi
Jefferies reworked the 2019 deal’s triple A, single A and triple B tranches in a €329.5 million transaction, leaving the double A-rated tranche untouched

CLO resets flood in with $2 billion printing across five deals
Five US CLO resets priced between Friday and Monday for a total volume of over $2 billion, covering a wide array of managers and different CLO vintages

Investcorp strikes partnership with distressed mid-market specialist
Marblegate Asset Management and Investcorp say they have formed a strategic partnership where the latter will provide Marblegate with long-term capital to strengthen its investment platform and provide access to to Investcorp's investor network

Euro CLO league tables: deal flurry takes Barclays and CVC to the top
The European CLO market machine swatted away any suggestion of a summer slowdown in August with €6.74 billion of issuance coming to market

Investcorp resets CLO that left reinvestment in October
Investcorp Credit Management reset its post-reinvestment CLO named Jamestown CLO IX via MUFG on Thursday

Euro CLO league tables: Blackstone back on top while Jefferies extends lead as focus turns to new issues
2021 European CLO issuance crossed €60 billion in July, which is more than the 22 months that preceded this year

Past returns: Doing DIY CLOs
Five years ago we reported that CLO managers were considering self-arranged CLOs

Investcorp looks at M&A for US CLO growth: Bloomberg
Investcorp Credit Management’s co-head of US credit David Moffitt has outlined plans to double the firm's US CLO assets under management – which include acquisitions and equity partnerships