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GC Asia
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New LA-based asset manager acquires CLO contract
Ducenta Squared Asset Management recently obtained the management contract for a CLO managed by Tortoise Credit Strategies, a firm that Ducenta acquired in April, according to a source familiar with the purchase.
03 Aug 2020 -
Citi snags European CLO syndication head from Credit Suisse
Citi has hired Florent Chagnard from Credit Suisse to head European CLO syndication in the firm’s London office, according to sources familiar with the situation.
03 Aug 2020 -
People moves in brief
Palmer gets interim ECM head gig at BofA — Clarke to join JP Morgan for FIG — Paz-Galindo promoted at UBS
30 Jul 2020 -
Roster of CLO managers thins as Covid reshapes space
The number of new managers entering the CLO market has dwindled in 2020 as a result of the pandemic crisis, interrupting years of growth that peaked with an average of 10 new managers a year since 2017.
29 Jul 2020 -
BlackRock, GoldenTree find new tights for Covid CLOs
Spreads on new issue CLOs moved tighter as BlackRock and GoldenTree Asset Management priced senior bonds at 155bp over three month Libor, scoring the tightest triple-A pricing since March.
28 Jul 2020 -
European CLO primary set for slowdown, says Investcorp
The European CLO summer slowdown is set to persist into autumn as pre-Covid warehouses run dry, and CLO 3.0 structures take time to mature, according to Investcorp, which has closed two euro CLOs in 2020 to bring its total European CLO assets under management to more than €7bn.
27 Jul 2020 -
Palmer Square to bring static CLOs to Europe
Kansas-based investment manager Palmer Square Capital Management is planning to issue two static CLOs in Europe this year, broadening the reach of a strategy that the manager has had success with in the US.
27 Jul 2020 -
Managers line up six new CLOs
Managers are working on a wave of new CLOs to be priced the coming weeks, as conditions in the market continue to improve and stabilize heading into August.
23 Jul 2020 -
US CLO managers plot European expansion
More US CLO managers are growing their presence in Europe, enticed by a tighter market for the bonds, growing demand from investors and a more contained Covid-19 crisis compared with the US, sources tell GlobalCapital.
22 Jul 2020 -
CLOs gain momentum as managers see mid-summer pricing window
Wellfleet Credit Partners and Carlyle Group priced new CLOs last week, adding to a growing pool of new deals that have cleared the pipeline in recent weeks as investors and managers settle into a stabilized market, according to sources.
20 Jul 2020
