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February 2022 | Issue 242

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Hugh Minch

Reporter

News

Migration into floating rate kicks off with record loan inflows

News

Luxembourg opens for CLO business after regs update

Digital CLO refis show worth as way of sticking by Libor

News

CLO managers to ramp up mid-market loan holdings

Hugh Minch, Reporter

Sayed Kadiri, Editor

News

Sofr spike boosts CLO debt as Europe and US go out of sync

News

CLOs and loans find footing as post-Sofr trends emerge

Hugh Minch, Reporter

Read News in Brief

Top stories on creditflux.com: from a new public CLO equity fund to Sofr volatility

6 january

Hayfin structured credit pair go independent in 1124 Capital

Hayfin pulls back from structured credit as head of this business, Jordan Milman, and portfolio manager John Hanisch leave to launch 1124 Capital. Hayfin’s structured credit business is being absorbed into its credit unit.

Milman joined Hayfin in June 2020 to head structured credit.

Milman: previously worked at LibreMax and Deutsche Bank

4 january

Panagram aims to launch New York-listed CLO fund

The control CLO equity investor has a $249 million portfolio in place for a fund listed on the New York Stock Exchange.

4 january

Apollo promotes CLO specialist to managing director

Obinna Eke, former head of US CLO syndication at BNP Paribas, has been promoted to managing director at Apollo, less than two years after joining the firm as a principal.

5 january

ArrowMark converts mid-market CLO into BSL deal

Using the framework of a CLO reissue, ArrowMark has turned Peaks 3 into Elevation 2021-15. The Peaks portfolio had exposure to widely held loans, making the transition easier than it might have been.

6 january

US CLO league tables: Blackstone and Citi win new issues battle…

...but CSAM and JP Morgan take overall issuance crowns in 2021. In all there were $391 billion of US deals last year, compared to $115 billion in 2020.

11 january

Napier Park promotes two

CLO specialist Julia He and real estate expert Joe Lane have both made partner.

19 january

KKR and Octagon raise CLO funds

Octagon is set to pay a portion of its manager fee to Conning and Rockefeller Financial. KKR’s vehicle will target CLO equity.

17 january

Timber! Tall Tree falls away from CLOs

Benefit Street Partners gets ready to take over as manager of a Tall Tree 2014 CLO. Tall Tree last printed a new CLO in 2018.

20 January

All change at MidOcean as CLO PM leaves and banker joins

Adrienne Dale-Burns has left MidOcean. While the firm hunts for a replacement, it has hired former Goldman Sachs CLO syndication head Jamil Nathoo.

21 January

Three-month term Sofr spikes ahead of rate hikes to bridge gap to Libor

Sofr hits 17.11bp from 9.11bp in early January as BofA strategist Ralph Axel tells Creditflux that this is reflecting “a full interest rate hike plus some additional”.

25 january

Comer and Russell join LSTA board

Experienced CLO pair AGL’s Wynne Comer and Morgan Stanley’s Rachel Russell join the board of directors along with Mike Weir (Deutsche Bank) and Fran Sutter (Citi).

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Global credit funds & CLO's

February 2022 | Issue 242

Published in London & New York.