EU CLO Manager Report: Tikehau
This study examines a sample of 218 deals from 2015 to 2019, utilising the Morningstar European Euro-Denominated Loan Index as...
This study examines a sample of 218 deals from 2015 to 2019, utilising the Morningstar European Euro-Denominated Loan Index as...
This study examines a sample of 218 deals from 2015 to 2019, utilising the Morningstar European Euro-Denominated Loan Index as...
This study examines a sample of 218 deals from 2015 to 2019, utilising the Morningstar European Euro-Denominated Loan Index as...
This study examines a sample of 218 deals from 2015 to 2019, utilising the Morningstar European Euro-Denominated Loan Index as...
A sample of 218 deals (2015–2019* vintage deals) is included in this study. The benchmark loan index used is the...
Nonetheless, it is worth noting that the manager's performance has rebounded remarkably following a trough experienced in late 2022. As of the last reading, the manager was performing better than its peers.
As of the latest update, it has slightly outperformed its peers. The manager maintains an average interest alpha profile, but its substantial improvement in Market Value (MV) alpha is particularly noteworthy.
This study examines a sample of 218 deals from 2015 to 2019, utilising the Morningstar European Euro-Denominated Loan Index as...
This study examines a sample of 218 deals from 2015 to 2019, utilising the Morningstar European Euro-Denominated Loan Index as...
A sample of 218 deals (2015–2019* vintage deals) is included in this study. The benchmark loan index used is the This study examines a sample of 218 deals from 2015 to 2019, utilising the Morningstar European Euro-Denominated Loan Index as the benchmark loan index.
This study examines a sample of 218 deals from 2015 to 2019, utilising the Morningstar European Euro-Denominated Loan Index as...
A sample of 218 deals (2015–2019* vintage deals) is included in this study. The benchmark loan index used is the...
This study examines a sample of 218 deals from 2015 to 2019, utilising the Morningstar European Euro-Denominated Loan Index as...
Throughout 2020 and 2021, Blackrock demonstrated resilience in its total performance. It consistently outperformed the loan index from January 2020 to July 2022, with the exception of April/May 2020. However, the firm’s performance began to decline from mid-2022, as its MV alpha decreased more significantly than that of its peers.
The table below lists the outstanding EU CLO deals that have already met their IRR incentive fee thresholds of 12%, supported by robust equity distributions. As expected, most of these deals were issued in 2016 or earlier, and all but one were reset—effectively extending the life of the deal and enabling equity distributions sufficient to meet the IRR thresholds. Collectively, the total incentive fees distributed to date amount to approximately EUR 24 million.