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News
News in brief
Top stories on creditflux.com: spreads widen and outflows increase as war hits credit
13 March
CLO veteran to launch own firm with hedge fund backing
Prominent CLO investor Debdeep Maji is readying to launch a new firm with the backing of Paul Singer’s hedge fund Elliott Management, according to multiple sources familiar with the matter.
The firm will invest in CLOs and will be called 37Spruce.
Maji was most recently at Santa Monica-based Irradiant Partners, which was acquired by Apollo Global Management’s Redding Ridge. Maji left Irradiant rather than staying with the combined entity.
25 February
Golub lines up European private credit CLO debut
The US asset manager is set to price Golub Capital Partners Euro CLO 89(M) as its first CLO on the continent. The firm is simultaneously ramping a BSL CLO platform in the region.
2 March
T. Rowe Price issues inaugural CLO
Rowe CLO 2026-1 is the first CLO to emerge from T. Rowe Price’s own platform. The firm also owns CLO issuer Oak Hill Advisors.
4 March
Carlyle and Sixth Street BDCs seek yield boost in CLOs
The two firms recently struck a joint venture that will buy up broadly syndicated loans and issue CLOs.
4 March
European investors pause as spreads widen due to Trump’s war on Iran
Investors are taking a ‘wait-and-see’ approach, with spreads starting to widen as geopolitical risk hits the market.
5 March
Private credit firms rush to cover BDC outflows
Individual investors, once a reliable source of direct lending dry powder, are redeeming more nontraded BDC shares than the product was designed to handle.
6 March
Retail investors pull back from loan ETFs
Investors pulled USD 1.4bn from the leveraged loan market in a week (the most since last April), according to data from electronic trading platform Octaura.
11 March
Macquarie acquires Spire
Macquarie is purchasing European CLO firm Spire Partners. The move into European CLOs comes less than a year after Macquarie debuted its US platform.
11 March
JPMorgan cuts back lending to private credit funds
The pull-back comes after the bank marked down the value of certain loans held by private credit funds that served as collateral for lending.
12 March
Spreads widen as CLO managers react to market volatility
Triple A tranches are widening by up to 10bps amid a slowdown in CLO resets and issuance.
17 March
Institutions continue to back direct lending
Institutional investors are holding fast to their direct lending allocations. Some are hopeful market turmoil may open opportunities for acquisition or create a favourable deployment landscape.
20 March
StepStone pursues collateralised fund obligation transaction
The transaction, which will see the firm bundle fund stakes to create a structured product, is being led by the firm’s private equity secondaries team.
25 March
US CLO managers turn to print-and-sprints
Managers are taking advantage of beaten-down leveraged loan prices by issuing print-and-sprints and lightly-ramped deals.
Points up front
Another go at regime change
The FII Priority Summit this month in Miami mixed South Beach glamour, Saudi money and a bold prediction that the Cuban government will fall “in the next few weeks”.
A small offshoot of the Riyadh flagship event, often dubbed “Davos in the Desert”, the conference typically sticks to apolitical topics. Not so this year.
Francis Suarez, former Miami mayor and now partner at law firm Quinn Emanuel, made the prediction during an interview.
A close confidant of fellow Cuban-American and US Secretary of State Marco Rubio, Suarez has long opposed the Cuban regime. It began with Fidel Castro’s revolution that imprisoned Suarez’s grandfather and drove decades of migration to Florida.
The US has completely cut off oil deliveries to Cuba, a country that was already suffering from chronic shortages. Under the stress of the embargo, Cuban President Miguel Díaz-Canel has visibly lost weight.
If the government does collapse, it would add to an already turbulent 2026.
Cuba: pushed to the brink
