CLO/CDO

ABS Daily

  • Rhode Island pension fund backs Sycamore Tree and Neuberger for CLOs

    Rhode Island pension fund backs Sycamore Tree and Neuberger for CLOs

    Rhode Island Employees' Retirement System has allocated $250m to Sycamore Tree and Neuberger Berman to invest in CLO equity and mezzanine tranches, following a new strategy that targets CLOs rather than real estate investment trusts (Reits) and master limited partnership (MLPs).

  • Santander said to be among banks targeting first synthetic STS deals

    Santander said to be among banks targeting first synthetic STS deals

    European banks are rushing to finalise the first synthetic ABS transaction to achieve a ‘simple, transparent and standardised’ (STS) verification. The debut deal, which marks a turning point for the significant risk transfer market, has already been signed and is set to arrive in the coming months.

  • Risky tech loans predicted to feature in more ABS

    Risky tech loans predicted to feature in more ABS

    Loans to fast growing but unprofitable software companies are finding their way into boundary-pushing securitizations. Investor appetite for yield could well bring this riskier product from niche to mainstream.

  • Redding Ridge priced $707m CLO

    Redding Ridge priced $707m CLO

    Apollo subsidiary Redding Ridge priced a $707m CLO on Friday. The deal is the largest new issue of the year and signals that large deals may be retruning returning to the CLO market after almost disappearing during the Covid-19 pandemic.

  • CLO investor Sancus leads wave of new managers

    CLO investor Sancus leads wave of new managers

    CLO investor Sancus Capital Management became a manager last week when it priced its debut deal. Pacific & Plains Capital, another newly formed CLO business, is also expected to join the list of CLO managers with a first deal on the horizon.

  • AB lauds tech approach as it closes second CLO

    AB lauds tech approach as it closes second CLO

    Market turmoil over the last year is encouraging more CLO managers to hone their technological tools to build better portfolios and to navigate future stress in markets. AllianceBernstein closed its second ever BSL CLO in May and says the success of its programme can be attributed to a series of technological instruments it uses to analyse its portfolio.

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