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

Axa IM puts money to work in the US as it closes global real estate debt fund
AXA’s real estate investments arm has closed its 10^th commercial real estate senior debt fund after achieving its capped target of €1.5 billion

CBAM brings its 2017 CLO issuance to over $4 billion with latest deal
CBAM priced its third new issue CLO worth $1.3 billion on Friday, according to market sources

US CLO round-up: 2017's leading managers come back for more
Three of the most active managers in the CLO market this year – including two who dared venture into the primary market in the opening weeks of 2017 – returned to price their latest CLO transactions this week. We look at which managers have been most active in 2017 across new issue, refis and resets

KKR prices triple As at 123bp in latest CLO reset featuring a yen repack
KKR Credit has priced a reset of its 2014-vintage deal KKR CLO 10. The reset triple As priced at 123bp - which is inside two new issues that have printed this week

CLO round-up: it's a good time to be a debut manager
New managers are taking advantage of welcoming debt investors by speedily raising CLOs. Our analysis shows that 2017 is the perhaps the best time to price a debut CLO since 2013

Citi prices two US CLO resets in a day
Post-reinvestment resets are becoming popular with Carlyle pricing this type of transaction yesterday.

Barings joins elite list of managers to price US CLO triple As at 118bp
Wells Fargo had a busy end to last week after pricing three (very different) US CLOs

CLO round-up: US CLO triple As hit 121bp amid late flurry of deals
What had started off as a quiet week in the new issue CLO market has ended with a bang as MJX Asset Management refinanced a deal on Thursday while American Money Management (reset) and CVC Credit Partners (new US CLO) have priced today

Citi brings two five-year reinvestment CLOs for US managers
Citi brings two US CLOs with five-year reinvestment periods and split triple A tranches

CBAM earns investor support on debut US CLO as triple As price at 125bp
Recently-established credit manager CBAM has made its entrance into CLO management in style. The manager has priced the largest broadly-syndicated loan CLO of 2017 and Creditflux data shows its triple-A print is in the top ten for this year

CLO round-up: Columbia and CSAM produce 100%-plus annualised distributions
Amidst the reset and refi environment, Columbia Management and Credit Suisse Asset Management have pleased the equity investors in their CLOs by delivering 100%-plus annualised payments in May

Morgan Stanley shaves 36bp off triple-A coupon as it refinances CLO
Morgan Stanley priced a US CLO refinancing for a global manager earlier this week, according to market sources

Private credit isn’t crowded: it’s following the 80/20 rule
With 20% of private credit fundraising dedicated to 80% of financing there is plenty of room for new players

CVC Credit adds to US refi tally, as Morgan Stanley prices new notes
CVC Credit Partners priced what is thought to be its fourth refinancing of a US CLO yesterday, say market sources

Barclays surpasses $1 billion of new issuance this week with dual-compliant CLO
Barclays has priced its second US CLO in three days, according to market sources, surpassing $1 billion in new issuance for the week

Manager makes first foray into CLO primary with $490 million refi
Marble Point Credit Management has priced its first deal in the CLO primary market, refinancing one of its recent takeover deals