Creditflux

What's making CLO equity so attractive this year? On the latest episode of The Last Tranche podcast, our Deputy Editor Lisa Lee is joined by Oaktree Capital Management, L.P.'s Madelaine Jones, CFA Jones to discuss why investors are finding CLO equity more appealing. CLO issuance is booming due to the return of investors to the market. Many are drawn to CLO equity for its fast cash distribution nature, which avoids the J-curve effect associated with private equity investments. 🎧 Listen to the full episode here: https://lnkd.in/eQ9P5JSE

Middle market CLOs were a niche product until private credit began to boom. Now we call them private credit CLOs — and they have taken a greater market share than BSL CLOs. Call them what you will, these deals are on fire. By the start of October, total issuance had already surpassed the record set for the entire year in 2021. New deals are running 45% ahead of the same period last year. Most notably, private credit CLOs are commanding an ever-bigger share of the outstanding market, according to Creditflux data: https://lnkd.in/ewkWK2jf

🎤 Managing Editor, Tom Davidson, closed the CLO Investor Summit yesterday with our annual “Would you buy it?” panel. Tom was joined by Shiloh Bates (Flat Rock Global, LLC) and Michael Finnegan (ZAIS Group) who walked us through their investment process and shared the key questions every CLO investor should ask before they buy. All of the content from the event is now available to watch on-demand here 👉 https://lnkd.in/gmkmxm-N

Will 2024 provide opportunities for loan managers to snap up some bargains or is it a year to play it safe? Are the best opportunities in the primary or secondary loan markets? 📈 These were just some of the questions our panel of experts, Stephanie Walsh (Bain Capital Credit), Dagmara Michalczuk (Tetragon Credit Partners), Matt Maxwell (The Carlyle Group), Karen Lau (Marathon Asset Management), and Andrew Berlin (LSTA), explored at the CLO Investor Summit yesterday. Catch the full “Loan market outlook - collateral deep dive” session on-demand now: https://lnkd.in/gmkmxm-N

Is the private credit asset class an unstoppable force, and will it take away from BSL CLOs? 🤔 At the CLO Investor Summit yesterday, Debtwire’s Josh O'Neill sat down with Jerry van Koolbergen (Morningstar DBRS), Terence Clerkin (PennantPark Investment Advisers, LLC), Dinko Angelov (Audax Private Debt), and Alex Silberman (Blue Owl Capital) to explore the growth of private credit CLOs in 2024. 🎥 Hear what the experts had to say on-demand now: https://lnkd.in/gmkmxm-N

DLA Piper’s John Murphy and Milbank LLP’s Jared Axelrod joined Managing Editor Tom Davidson at the CLO Investor Summit yesterday for our “Dispatches from the CLO Trenches” panel. ⚖️ They discussed market trends and the pressing legal issues that investors in the CLO space need to take notice of. Catch the full conversation on-demand now 👉 https://lnkd.in/gmkmxm-N

🚀 We’re in NYC today for the return of the CLO Investor Summit! We kicked things off with a fantastic session on the state of the CLO market. Our Managing Editor, Tom Davidson, was joined by expert managers Gretchen Mohr Lam, CFA (Octagon Credit Investors), Jonathan Horowitz (Fortress Investment Group), Gunther Stein (Sound Point Capital Management, LP), Matt Bloomfield (Palmer Square Capital Management LLC), and Amir Vardi (Credit Suisse Asset Management). The panel discussed what CLO issuance, including senior spreads and loan prices, will look like in 2024, the expectations for downgrades, how the CLO landscape is evolving, and much more! Missed it? Stream the event live or catch this session on-demand shortly: https://lnkd.in/gmkmxm-N

5 days to go! It's almost time for the CLO Investor Summit 2024, and you don't want to miss it! Connect with 250+ peers in New York and hear industry experts share their insights on the evolving CLO market.  Tom Davidson will be joined by Shiloh Bates (Flat Rock Global, LLC), Michael Finnegan (ZAIS Group) and Robert Klein (Clarion Capital Partners) for our annual "Would You Buy It?" panel. View the full agenda and register today: https://lnkd.in/gmkmxm-N

How has collateral underlying the CLO market performed in the last 12 months, and what is the outlook for the year to come? Find out at the CLO Investor Summit next week where we'll be joined by expert panellists Stephanie Walsh (Bain Capital Credit), Dagmara Michalczuk (Tetragon Credit Partners), Matt Maxwell (The Carlyle Group), Karen Lau (Marathon Asset Management) and Andrew Berlin (LSTA). Register here: https://lnkd.in/gmkmxm-N

Private credit CLOs are quickly becoming a growing piece of the CLO market, making up roughly 11% of the broader $1.3 trillion CLO market in 2023. 📊 Debtwire's Josh O'Neill will be joined by Jerry van Koolbergen (Morningstar DBRS), Mak Pitke (Antares Capital LP), Terence Clerkin (PennantPark Investment Advisers, LLC), Dinko Angelov (Audax Private Debt) and Alex Zilberman (Blue Owl Capital) at the CLO Investor Summit next week to explore the growth of private credit CLOs and whether it's impacting BSL issuance. Find out more and register here: https://lnkd.in/gmkmxm-N