Eagle Point hires official to focus on CLO debt investments
Eagle Point Credit Management has added to its CLO team by hiring a former MKP official 

"CLO managers who struck the right balance in 2020 are more easily able to reset their deals"
CLO managers were re-evaluated during the pandemic, and outperformers can expect to see benefits this year

LP round-up: $2.6 billion flows into 26 credit managers
A stuck ship in the Suez Canal may have prevented others from getting through one of the world's busiest waterways in March, but allocations to credit funds were much more free flowing as investors poured over $2.6 billion into the hands of credit managers

Eagle Point diversifies from CLOs as it wins $180 million for BDC lending strategy
A US public pension has earmarked $60 million for Eagle Point's fund and a further $120 million for a separate managed account

CLO naysayers have made arb and cov-lite into dirty words — that should now change
Recent performance has shown that cov-lite loans and challenging arb don’t spell doom for CLOs 

Eagle Point hires business development director from CQS
Eagle Point Credit Management has hired a director of business developement

The tide has turned… the solution for investors is to move into floating rate loans
2020 was the year of fixed-rate bonds, but treasury curves are steepening and demand for loans is heating up

Eagle Point makes large investment in rival's CLO fund
Eagle Point Credit Management has made a large investment in the preferred stock in a competitor's publicly traded CLO fund

2020 wrap: CLO funds bloom despite rocky ground
2020 was a busy year for CLO fundraising, with Creditflux recording at least 30 funds that launched over the 12 months to invest across the CLO capital structure

Perhaps 2021 will be the first year of the next expansion
For 2021, our columnist is focused on Libor transitions, CLO flexibility and loan managers fighting among themselves

Eagle Point bulks up on CLO equity
Eagle Point Credit Company deployed $35.1 million of its capital into CLO equity investments in the third quarter, buying $8.4 million in the secondary market and the remainder in primary, while selling just $4.8 million

The cost — a few basis points — is modest compared to the potency of bond buckets
If CLOs had bond buckets when Delta Air Lines issued debt, a manager could have bought the bond then rotated into the loan

CLO collateral managers who are able to update their documents could gain warf advantage
Moody’s is reviewing its approach to warf. Changes could boost managers’ ability to trade

Faith in structures has been rewarded
CLOs have been resilient against covid-19 fallout, said speakers at Creditflux’s CLO Symposium last month. But there’s always room to improve and 3.0 deals may add ESG and bullet tranches

The length of a CLO’s reinvestment period has no substantive effect on its resilience to defaults
Three-year reinvestment CLOs are the norm, but debt investors should be locking in historically wide spreads for longer

Eagle Point targets $100 million with CLO fund launch
Eagle Point is set to launch another CLO-focused fund this summer, with the Greenwich-based manager on the fundraising trail for EP CLO Opportunities Fund II

Managers weigh up matters of principal
CLO managers that were able to avoid OC traps made double-digit equity distributions in Q2, despite the headwinds. But these firms tended not to be among those that built the most par

Around 20% of the US CLO market has traded this year — not bad for an asset class that is seen as illiquid
CLOs can trade cheaply and directly, which helps keep volumes steady even in a crisis

It takes just a few CLO collateral managers selling into the distressed community to start cracks forming
It is becoming increasingly clear that CLO collateral managers need to improve their collaboration efforts in distressed situations

Light at end of tunnel as S&P puts two loan issuers on creditwatch positive
Panellists at IMN's CLO and leveraged loan webinar were optimistic about the future of their markets as S&P makes first positive rating action on leveraged loan issuers since the pandemic outbreak

LP round-up: mighty Oaks win $1 billion apiece from Calpers
Credit investors allocated over $3 billion to 18 credit managers this week across a wide range of strategies

Eagle Point wins $100 million from US pension and launches 'defensive' CLO fund
Eagle Point Capital Management has won a $100 million mandate for its CLO strategy and has separately launched a new fund - Eagle Point Defensive Income Fund

Some managers calculated their CLOs were passing OC tests, only to find them failing the next day
Corporate credit downgrade storms have been weathered before, but this one has come out of season

The CMBS talf proposal is simple and effective. A similar approach for CLOs would be welcomed
It’s great that government is trying to boost securitisations, but they’re missing the mark for CLOs

Eagle Point cuts dividend payments on listed CLO equity fund
Eagle Point Credit Company has slashed its divident payment by 60% to eight cents a share, down from 20 cents a share, following losses to net asset value in the first quarter as a result of the coronavirus pandemic