CLO managers get triple-As away without Japanese help

CVC 230
By Tom Brown
04 Jul 2019

CVC Credit Partners and BNP Paribas Asset Management are two CLO managers preparing to price their latest CLOs, bringing broadly syndicated deals to the market without help from Japanese anchor investment. Both well-established managers are having little trouble finding interest in their latest deals, as European and US investors rush in to fill the gap.

“They are great managers and I think they are enjoying good demand,” said an investor. “BNPP is getting plenty of attention across the capital stack. Double-B tranches are enjoying participation from hedge funds. The triple-As are okay, I do not think there are any problems placing them ...

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