Ares switches to C-Corp structure as it announces "record year" in earnings release
Ares has announced a change to its corporate tax status in an earnings release that described 2017 as “a record year” for the firm

Blackstone's credit AUM up 48% YoY as firm announces "exceptional" results
The firm's credit business enjoyed composite gross returns of 11.2% for performing credit and 7.7% for distressed strategies in 2017

US pensions look beyond equities
US pension funds dramatically lowered their allocations to equity in the decade ending in 2016 as they diversified into illiquid and alternative assets. By Grace Jennings-Edquist

Goldman's monthly CLO volumes pass $2.5 billion following latest reset
Goldman Sach's impressive start to its 2018 CLO activity continues as the bank has priced a $517 million reset deal

Alcentra prices US CLO triple As at 112bp following reset
The manager has priced its first CLO transaction of 2018 via MUFG

US league tables: CBAM tops US CLO rankings after meteoric rise
Just over a year ago, New York-based CBAM Partners commenced operations amid much fanfare. Fast forward 12 months and the asset manager has delivered on its promise, with Creditflux data showing that the firm was the largest CLO issuer of 2017

Private debt performance shines in institutional investing study
A quarter of institutional investors say private debt outperformed their expectations over 12 months to 28 August 2017

Managers line up behind tighter guidelines for drawdown funds
Six months after new guidelines were released over the use of subscription lines of credit for private equity-style funds, the aftershocks have been less dramatic than some credit managers expected

Finra pencils in proposals to trace extra detail in CLO trades
Finra is stepping up its efforts to provide greater transparency on secondary CLO pricing, according to several market sources

Balance of power shifts away from direct lenders
Mid-sized corporations are getting their way at the expense of direct lenders at the negotiation table, recent research suggests.

They said it: long faces on flow traders
Citi’s Jim Hughes tells the Creditflux CLO Investor Summit about how difficult life is for flow credit traders

Angel Oak CMV plants seed for newly risen CLO market
Atlanta-based manager Angel Oak Capital is looking to fertilise the budding market for CLOs backed by subordinated bank debt

Shrinking spread cushions prove hard for CLOs
 Falling loan spreads are placing ever tighter constraints on CLO managers’ choice of investments just as the loan supply itself is declining

Insurance reallocation tightens CLO mezzanine
Buying by US insurance firms has been the biggest factor driving double A to triple B CLO spreads tighter this year, according to Citi CLO head Jim Hughes

Managers pick spots on CLO curve
As refi volumes slowed through 2017, the term curve for CLOs steepened, leading managers to vary their deal tenors as they sought to hit the evolving sweet spot.

Retail sector ailments could easily turn into pandemic
Credit’s retail malady is infectious and uncontainable as retailers face up to obsolete business models

CIFC resets 2012 CLO with triple As pricing at 80bp
CIFC made its 13th CLO transaction in the US CLO market this year yesterday, resetting CIFC Funding 2012-II, according to market sources

MJX shrugs off CIO departure to price $715 million CLO
MJX Asset Management priced its fifth new issue CLO of 2017 yesterday, according to market sources. It has also emerged that a senior official has recently left the firm

NY Life reignites Tetragon partnership as it prices new US CLO
TCI Capital Management, the CMOA platform established by Tetragon, priced the $512.3 million deal yesterday

US CLO round-up: trend-setting managers show 2015 refis are in fashion
The fourth-quarter CLO rush is well and truly in motion with $3.4 billion of CLO paper pricing in the US - and refis of 2015 deals are becoming increasingly important

Investors prefer direct lending to CLOs
For the first time in the history of Creditflux’s credit allocator survey, investors have voted direct lending the best investment in credit. CLOs came joint second. By Michelle D’souza

Mid-market CLO issuance crosses $10 billion as Madison prices reset
Madison Capital Funding priced a reset of a 2014 middle-market CLO this week, according to market sources

CIFC prices its 11th CLO transaction of the year
CIFC has priced a reset of a 2013 vintage CLO, according to market sources

US CLO round-up: New Jersey managers come to market in style
After a slow start following Labor day, four US CLOs have priced this week – including a deal arranged by Goldman Sachs for Zais

Manager plans first post-crisis CLO backed by infrastructure assets
Barclays is marketing the first 2.0 infrastructure CLO, according to market sources