CLO Research

Since early 2025, the three educational articles below have collectively garnered over 7,500 views, underscoring continued interest in succinct, practical and relevant CLO content.

Over the past month, trading colour was available for more than 470 data points (source: SCI). The table below presents the average DMs and DMs to first call based on cover bids, grouped by WAL cohort.

A sample of 351 fully repaid single-B tranches is included in this study. Overall, their performance has been very impressive, with an average realised IRR exceeding that of the fully repaid equity tranches in the sample. In addition, single-B tranches generally carry lower risk than equity, given their second-loss position in the capital structure.

A sample of 122 unique CLO equity positions is used for this study. These positions were placed on BWIC, with trading colour available since 21 April 2026.

A sample of 351 fully repaid single-B tranches is included in this study. Overall, their performance has been very impressive, with an average realised IRR exceeding that of the fully repaid equity tranches in the sample. In addition, single-B tranches generally carry lower risk than equity, given their second-loss position in the capital structure.

Below are tables presenting the MVOC (BB–B) and equity NAV of US BSL and EU CLO deals by vintage, based on asset prices as of 26 June 2026.