CLOs

  • Capital Four expands in the US and hires ex MidOcean CLO PM

    Capital Four expands in the US and hires ex MidOcean CLO PM

    Danish credit asset management boutique Capital Four is expanding in the US and has hired former MidOcean CLO portfolio manager Jim Wiant to establish and lead the US business. Wiant has been appointed CEO of US Capital Four and portfolio manager. He will be based in the New York office.

  • European managers break 80bp CLO reset barrier

    European managers break 80bp CLO reset barrier

    Recent CLO resets have broken through the 80bp spread barrier for triple-A paper in recent weeks, bringing the market to its tightest point since coronavirus lockdowns began a year ago.

  • Landmark Starwood project finance CLO opens door to new asset class

    Landmark Starwood project finance CLO opens door to new asset class

    MUFG has introduced a new CLO asset class, bundling $500m of project finance and infrastructure loans together for Starwood Property Trust, in a deal that clearly demonstrated investor appetite for the product. Other issuers could follow, raising capital for the forthcoming US infrastructure building plan potentially worth $2tr, writes Paola Aurisicchio.

  • Middle market CLO manager Monroe sells minority stake to Aberdeen

    Middle market CLO manager Monroe sells minority stake to Aberdeen

    Chicago-based middle market CLO manager Monroe Capital has sold a minority equity stake to Bonaccord Capital Partners, a subsidiary of the UK asset manager Aberdeen Asset Management. The minority interest is classified as 'passive', in which the buyer will not exercise control by votes and will not have impact on the day-to-day management, operations and decision-making processes of Monroe. Terms of the investment were not disclosed.

  • CLO tech firms step up as investors hone in on doc terms

    CLO tech firms step up as investors hone in on doc terms

    The complexity of CLO documentation, and the need for easy access to deal info is encouraging tech providers to step into the breach and offer solutions to simplify the time-consuming processes of CLO investing. As managers adapt their deals to handle the fallout of the pandemic, good tools to handle documentary complexity have become all the more important.

  • CLOs winning repricing race with loans

    CLOs winning repricing race with loans

    CLO liability spreads are tightening faster than leveraged loans can reprice, boosting the arbitrage available for managers hitting this window and encouraging others to rush into the market where possible.

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