CLO consolidation slows but retention could bar entrants
The surge in US new issue CLOs in 2012 and 2013 has led to a slowdown in the CLO manager consolidation trend that started after the 2008 financial crisis, according to Moody’s. In Europe the return of CLO issuance this year has not yet been big enough to bring in new entrants, the ratings agency added, while in both markets the largest managers still have a significant market share.
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