Top stories on creditflux.com: from firms getting together to traders getting out
25 may
Two more credit firms explore CLO management partnership
Marblegate Asset Management and Wellington Management are the latest two US credit shops to explore launching a CLO management platform. Wellington is a well-known CLO investor. Marblegate is a credit opps specialist.
Andrew Milgram, CIO of Marblegate, which formed a strategic partnership with CLO manager Investcorp in 2021
3 may
CLO PM tipped to join CVC in trading/capital markets role
Asha Narayan, former Hayfin and PGIM CLO portfolio manager, is heading to CVC Credit Partners. Narayan starts in June and will report to Guillaume Tarneaud, partner and head of European performing credit.
4 may
CSAM makes it three-in-a row with Manager of the Year award win
Credit Suisse Asset Management wins the Creditflux Manager of the Year award for the third year running. Other success stories include Elmwood Asset Management, which won three awards for its prowess in US CLO management, while Redding Ridge, Fair Oaks and Spire each collected one win for their European CLOs.
5 may
Global CLO trader joins Nearwater to head new London office
Nearwater Capital expanded its global presence with former JP Morgan global CLO trader Matthew Carpenter set to join the firm in London.
9 may
Bain scores tightest triple A for five-year CLO this month
Bain Capital Credit CLO 2023-2 priced with its triple A debt split into senior and junior tranches paying Sofr plus 183 and 230 basis points, respectively. The blended spread of 185.94bp was 8.35bp tight of the 10-day rolling average for five-year reinvestment triple As.
12 may
CLO and structured credit PM parts ways from Hildene
Hildene Capital Management’s portfolio manager Tapan Jain has left the firm. It’s understood Hildene’s senior leadership will assume Jain’s responsibilities.
22 may
Former Wells Fargo executive launches investment bank to print ‘social CLOs’
Alicia Reyes, former chief executive officer for Europe, the Middle East and Africa at Wells Fargo, has launched an investment bank named Momentus Securities in New York and is hoping to use CLO technology to attract capital to small businesses and non-profits in the US.
18 may
Former Symphony chairman Stein returns to lead CLO business at large asset manager
Sound Point Capital Management is hiring Gunther Stein, former chairman, CEO and CIO at Symphony Asset Management, as head and CIO of Sound Point’s US performing credit and CLO business.
29 may
CSAM and Sixth Street launch CLO funds
Sixth Street filed to register Sixth Street CLO Equity Fund IV. Credit Suisse Asset Management meanwhile filed an update for its second CLO fund, Edition CLO Opportunity Fund II, with the SEC.
31 may
CLO trading head tipped to join Scotiabank’s new team
Joseph Guzzi, head of US CLO secondary trading at Jefferies, resigned from the bank ahead of a move to join the newly formed Scotia team. Guzzi will be based in New York and will start on 12 June.