1 September

Credit fundraising: distressed stays in favour but CLO ETFs emerge

US managers on the fundraising trail include Värde Partners with its first dedicated dislocation and distressed debt fund, while two firms plan breakthrough CLO ETFs.

7 September

Kartesia launches first standalone CLO strategy

Kartesia has hired Lizeth Bonilla to its structured credit team having launched its first dedicated CLO strategy this year, officials at the company confirm. The firm had previously invested in CLOs through credit opportunity funds.

4 September

Ellington winds down CLO warehouse with Barclays as PM joins rival

Ellington Management is closing its European CLO warehouse as Hekeani Mathieu joins Nassau Corporate Credit.

8 September

10-day US CLO warehouses open up

A report by Maples Group finds several opportunistic US CLO warehouses have launched since mid-June.

9 September

Anchorage prices first five-year CLO structure since March

9 September

Beneath the triple C: slow downgrade pace puts market in recovery mode

Just five downgrades to triple C loans of corporate debt issuers by Moody’s and S&P had an impact on CLO portfolios in August.

15 September

(First) Eagle has landed: five-year CLO prices

11 September

Blackstone reveals CLO originator NAV was understated for months

Blackstone claims class A units in its privately-offered CLO originator were understated between 31 March and 30 June. The error came about due to “a third-party valuation agent”.

15 September

Manager holds first close on debut control US CLO equity fund

Nassau Private Credit is on the fundraising trail after holding a first close using internal capital, according to market sources.

16 September

LibreMax CLO head Moffitt joins Investcorp

Ex-LibreMax CLO head David Moffitt joins as new co-head of US credit management following the departure of Jim Feeley.

17 September

HarbourVest takes aim at Highland in court

HarbourVest Partners, the key investor in risk retention vehicle Highland CLO Funding, has shot back at Highland Capital Management in court, arguing it had not insisted on changing the manager on its CLO fund from Acis to Highland.

23 September

NYL markets five-year CLO with spreads tighter than Q4 2019

Deal suggests spreads are tighter than in late 2019.