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News
News in brief
Top stories on creditflux.com: firms are planning launches and issuance despite slump
6 February
TPG to raise capital for CLO platform and expand in credit
TPG’s desire to expand its credit business has already led it to launch a new middle market strategy, Advantage Direct Lending. The strategy targets corporate borrowers that are too large for the strategy managed by subsidiary TPG Twin Brook.
TPG CFO Jack Weingart: on the firm’s fourth quarter earnings call he said TPG plans to raise equity for its CLO platform and expand its capabilities in credit
29 January
Crescent eyes move into European CLOs
One of the oldest US CLO managers is contemplating an acquisition or platform launch.
3 February
Investors push managers on arb, delaying European issuance
Conversations between CLO investors and managers around arbitrage may be causing a delay in new Euro CLO issuance, sources say.
3 February
CLO lawyers lobby European regulators on investor due diligence proposals
London-based CLO legal teams are lobbying the European Commission on key proposals that may penalise investors.
4 February
CLO platform M&A sees green shoots
CLO businesses may appear in asset management M&As over the next few years, as consolidation pressure builds in alternative credit.
6 February
US lev loans, CLO spreads move in opposite directions
The unusual dynamic has been driven by concerns about disruption from artificial intelligence, as investors fret about the potentially wide-ranging impacts.
10 February
Apollo readies offensive strategy for software valuation troubles
The alternative asset manager says it’s ready to step in as a lender or even provide equity to software companies.
10 February
CLO equity payments decline in US and Europe
Reinvesting US BSL CLOs saw median equity payments slip 16bps from the fourth quarter of 2025, according to Barclays.
11 February
Former Ares CLO leader Okuliar joins Corinthia
Private credit firm Corinthia Global Management has hired Boris Okuliar. The move signals Corinthia’s expansion into public credit.
12 February
Park Square launches European CLO platform
The new platform will be co-led by Wlod Wator and former BlackRock European CLO portfolio manager Ryan McGahon.
16 February
Abry plans programmatic BSL CLO issuance
Abry Partners is planning to launch two to three more CLOs in 2026. It is also mulling an expansion into private credit CLOs.
17 February
Software sell-off weighs on European single B CLO tranches
A sell-off in software company loans is hitting European single B CLO tranches, with around 7%-8% no longer covered on an MVOC basis, according to BofA.
20 February
Whitebox Advisors readies captive CLO equity fund
The CLO manager is in talks with prospective investors for a fund that will help it issue new CLOs by investing in CLO equity and providing warehouse financing.
Points up front
The storm was just the start...
The annual structured finance gathering in Las Vegas — SFVegas, held at the Aria Resort & Casino from 22-25 February — had more than 10,000 registrants this year. That number marked a new record, but wasn’t what made this confab unique.
First, a fierce winter storm loomed up on the northeast US. After hastily rearranging travel plans, most from the region still made it to Vegas, and they were treated to a dog show in the exhibition hall and a keynote address by actor Mark Wahlberg.
From the start, artificial intelligence dominated discussions. “It’s 100% AI, AI, AI. It’s all LPs want to talk about,” said a CLO manager.
AI made an even bigger splash on the Monday of the conference. A Substack post by Citrini Research (‘The 2028 Global Intelligence Crisis’) painted a doomsday scenario that sent equities and leveraged loans tumbling.
Then, overnight, a fire in the exhibition hall shuttered the space for the duration. Meanwhile, software leveraged loans fell further. But at least the dogs were safe.
SFVegas: dogged by fire and a collapse in software loans
