CLO pipeline: LCM switches arranger to complete deal and join issuance surge
Over $3.5 billion of global CLO issuance priced last week and managers in all three CLO markets are taking advantage of tightening spreads across the capital structure after three major covid-19 vaccine breakthroughs and increased confidence since the US presidential election

Benefit Street markets its first-ever European risk retention compliant CLO
Benefit Street Partners is working with JP Morgan to issue its first-ever CLO structured to comply with European risk retention regulations, in a bid to attract international investors

CLO pipeline: break's over - time to print deals
The CLO market has taken a slight pause after the independence holiday in the US last weekend, meaning the CLO pipeline includes a backlog

Q2 US CLO volumes pass $14 billion as Benefit Street issues new deal
Benefit Street Partners has issued its first new CLO of 2020, bringing the total volume of US CLOs priced since the coronavirus selloff to $14.32 billion, according to market sources

Bankrupt Hertz runs out of gas with CLOs holding $245 million
CLOs hold $245 million of Hertz’ debt as the US-based car rental company drives into bankruptcy protection, with the coronavirus panedemic putting brakes on the Estero, Florida-headquartered's firm car rental operations

Akorn falls into bankruptcy with $321 million planted in CLOs
CLOs hold $321.3 million of specialty pharmaceutical company Akorn’s debt, according to the latest trustee reports from CLO-I, with the firm having filed for chapter 11 protection in the US District Court for the District of Delaware yesterday

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.

US CRE CLO growth spurt encourages Europeans
The US CRE CLO market hit a record $19.2 billion in 2019 and sources say that a first ever European deal will be issued this year. They cite the growing commercial mortgage direct lending market on the continent as laying the foundations for a European CRE CLO.

Benefit Street completes new issue CLO via Morgan Stanley
Benefit Street Partners priced a new issue CLO via Morgan Stanley on Friday named Benefit Street Partners CLO XIX, according to market sources, with the deal pricing at $508.7 million

Benefit Street prices $507.85 million US CLO
Benefit Street Partners priced its second new CLO of the year on Thursday, according to market sources

Los Angeles pension appoints four managers for private credit mandate
Los Angeles City Employees Retirement System (Lacers) has awarded four contracts for a $670 million private credit mandate search, according to minutes from the July investment committee meeting.  

Benefit Street slashes 32bp from 2016 CLO's funding costs via refi
Benefit Street Partners teamed up with Citi on Friday to refinance Benefit Street Partners CLO X, according to market sources, slashing 31.96 basis points from the deal’s weighted funding costs

Los Angeles pension fund narrows down global direct lending search to four managers
Los Angeles City Employees Retirement System (Lacers) has listed the finalists for a private credit mandate, according to an agenda document seen by Creditflux.  

Benefit Street teams up with Wells Fargo for $508.2 million new CLO
Benefit Street Partners has priced its first new issue CLO of 2019

Cliffwater raises $135 million for interval fund geared towards direct lending
Cliffwater has raised $135 million for an interval fund through which it will allocate to five sub-advisors

US pension to invest $75 million in private debt
Vermont pension investment committee (VPIC) has decided to commit $75 million in private debt, following a private credit strategic investment plan recommendation plan recommendation by its investment consultant NEPC.  

Benefit Street prices new CLO ahead of Franklin Templeton integration
Benefit Street Partners has issued its first CLO since the announcement in October that it was being acquired by Franklin Templeton Investments

Franklin Templeton acquires Benefit Street
Franklin Templeton Investments has acquired $26 billion credit fund manager Benefit Street Partners

Benefit Street Partners taps Monroe and BlackRock for private debt origination hires
Benefit Street Partners has made two senior appointments to its private debt origination team

Benefit Street prices its 15th new CLO
Benefit Street Partners priced a new issue CLO yesterday, bringing its 2018 volumes up to $2.4 billion

Benefit Street reworks 2016 CLO to reduce funding costs by 61bp
Benefit Street Partners has made a quick-fire return to the CLO market with a reset of its 2016 deal, Benefit Street Partners IX

CLO b-wic line-up: over $300 million of senior CLO paper goes on the block
Senior notes dominate the secondary market today as $306.5 million worth of triple A notes are up for grabs

Experienced anchor CLO investor Bates joins Flat Rock
Shiloh Bates, a well known control CLO equity investor, has resurfaced at Flat Rock Global

Benefit Street hits a turn in the road, pricing its first CLO re-issue transaction
Benefit Street Partners has entered the burgeoning CLO reissue space, according to market sources

Triangle BDC goes on a different tangent with Barings and Benefit Street deals
Triangle BDC sells assets to Benefit Street and arees to Barings takeover in an unusual deal