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Dasha Sobornova joins from Akin Gump with experience across asset classes
Trade body for levfin investors turns to leading rating analyst
Demand for riskiest tranches and improved loan supply could support growth in issuance
Dana Point 'no longer the end' of the year as market retains momentum
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The period since March has been a turbulent time for financial markets, and the CLO sector in Europe dealt with a complex set of disruptions when the pandemic arrived this spring. From sudden and acute stress at the corporate level, to an unprecedented shift in working conditions, CLO players in Europe experienced uncertainty not seen since the last crisis. Yet, the market has adapted, and while the shape and size of deals may be different, CLOs in Europe are pushing ahead. BNY Mellon and GlobalCapital gathered market experts to discuss the present state of the European CLO market and its prospects. -
Many saw the US Federal Reserve’s decision to lend hundreds of billions of dollars to certain central banks at the height of the coronavirus crisis as pivotal in preventing further calamity in global markets. Brad Setser, senior fellow for international economics at the Council of Foreign Relations, gives a great deal of credit to the Fed for its forceful intervention. But if markets begin to see the US central bank as a global lender of last resort, there may be a greater risk of imprudent behaviour and more political tumult in the US.
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As the economic effects of the coronavirus pandemic ripple through capital markets and defaults pile up, CLO managers are scrambling to alter deal structures to cope with heightened risk and to take advantage of new opportunities. Paola Aurisicchio reports.
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Voya Alternative Asset Management priced a $396m so-called 'print and sprint' CLO last week, joining a handful of managers that have opted for speedier deal execution in the Covid era.
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WhiteHorse Capital, the credit arm of H.I.G. Capital, has hired Jason Hicks as principal. Hicks will be based in WhiteHorse’s New York office and will be responsible for originating and executing middle market debt financings for private equity sponsored transactions.
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Alternative Access Funds has launched an exchange-traded fund (ETF) focused on triple-A CLOs to appeal to investors who have not bought the asset class before.
