News

Home

News

Share this report

Share this report:

Browse more Creditflux newsletters

Global credit funds & CLO's

April 2024 | Issue 263

Published in London & New York.

News

April 2024 | Issue 263

News

Strong run helps CLOs shrug off Altice downgrade

Tom Davidson, Managing editor

News

CIC aims to join list of new European CLO managers

Shant Fabricatorian,

CLOs

News

Triple A delayed-draw structure helps European CLOs beat negative carry

Shant Fabricatorian, CLOs

News

Milbank staffs up after slew of London lawyers follow Goldfinch to Allen & Overy

Paul Conley, Senior reporter

News

Private credit firms chase opportunities in asset based lending as US banks withdraw

Kellie Ell, Reporter

News

Distress rises in US CLO double Bs — but most have been in trouble for years

Tom Davidson, Managing editor and Poh-Heng Tan

Read News in Brief

Top stories on creditflux.com: new drama at Corinthia and on-going ructions at Altice

4 March

LeeKong, Carlyle’s head of direct lending, moves on

Carlyle’s head of direct lending Aren LeeKong has left the firm to pursue other opportunities, according to a company memo seen by Creditflux. Carlyle’s deputy chief investment officer for global credit, Justin Plouffe, will take on added responsibilities.

Plouffe: joined Carlyle in 2007. At the firm, he has overseen CLO new issuance, led acquisitions of credit management platforms and served as a portfolio manager.

5 March

Debut manager makes second issuance

A year after its European debut, Canyon Partners priced the delayed-draw tranche from that inaugural Euro CLO via Jefferies.

6 March

Tightest European new issue CLO this year prices

European new-issue spreads for 2024 nudged downwards as Apollo’s RRE 18 Loan Management priced its triple-A tranches at Euribor plus 147 bps.

7 March

Vermont pension system commits USD 125m to private credit

The Vermont Pension Investment Commission approved two separate allocations, totalling USD 125m, to private credit.

8 March

BBVA hires ex Credit Suisse managing director

BBVA hired Charlie Morin as a managing director and head of the US financial institutions group for debt capital markets. Morin comes from Credit Suisse/UBS, where he spent seven years.

11 March

Direct lender and CLO manager opens in Japan

Deerpath Capital Management opened its first office in Tokyo. Taichiro “Tai” Watanabe joined as a senior vice president and will oversee the new office.

11 March

European CLO equity distributions improve as those in US worsen

Rapid prepayment rates, especially in the first two years after the reinvestment period, can swiftly diminish a CLO’s leveraged structure. But European CLOs seem to be improving with age.

11 March

GoldenTree closes on private credit fund

GoldenTree Asset Management announced the closing of its private credit fund, with secured commitments of USD 1.35bn.

12 March

CLOIE expands into European CLOs

The JP Morgan European Collateralized Loan Obligation Index (€-CLOIE) represents 84% of the EUR 230bn European CLO market.

12 March

Nomura-backed Corinthia lifts private credit team from Barings...

More than 20 members of the global private credit team at Barings joined Corinthia Global Management, a new platform backed by Nomura Holdings.

18 March

...which then launches legal proceedings against senior defectors

Barings commenced legal proceedings against two former senior executives who defected to Corinthia Global Management.

20 March

CalPERS shifts from fixed income to private credit

The California Public Employees’ Retirement System said it committed more than USD 2.6bn to private debt funds in Q3.

27 March

Altice is not just a European CLO problem

Comments by the Altice France CEO sent the firm’s debt spiralling. The fallout could prompt widespread breaches of OC tests in the US CLO market.

Home

${next-page}