I’m pleased to be moderating at the Structured Credit Investor CLO 100 event on 4 March in London. Specifically, I will be moderating the sessions on CLO manager dispersion and manager and portfolio tiering. I believe these topics will be particularly relevant in the current climate.
Among managers with at least eight deals in the sample, four delivered top-tier performance in early 2025. As of the latest reading, three remain in the top quartile, while one has moved into the second quartile.
The underlying modeled collateral spreads are crucial for equity investors, as these modeled spreads are key in determining the issue price of CLO equity tranches. If a deal reports a significantly lower first reported collateral spread, the original attractiveness of the equity investment at a certain price may change as a result.
Below are tables presenting the MVOC (AAA-B) and EQ NAV of EU CLO deals by vintage, based on asset prices...
