A sample of 313 seasoned deals (2016–2019 vintage deals) managed by 57 US CLO managers is included in this study. The benchmark loan index used is the Morningstar LSTA US B-BB Ratings Loan Index.
Notably, Redding Ridge, Hayfin Capital, Partners Group, Oaktree Capital, Invesco, Sound Point Capital, Napier Park and Permira Debt Managers exhibit the most favourable reinvestment period profile.
Blackstone stands at the forefront as the leading EU CLO manager, with a substantial AuM of €11.8 billion. CVC Credit Partners secures the second spot among EU CLO managers, boasting an impressive AuM of €10.8 billion. Meanwhile, the Carlyle Group holds a strong position as the third-ranked EU CLO manager, managing an AuM of €10.6 billion.
A sample of 313 seasoned deals (2016–2019 vintage deals) managed by 57 US CLO managers is included in this study. The benchmark loan index used is the Morningstar LSTA US B-BB Ratings Loan Index. The table in tihis premium displays the relative ranking of each US CLO manager based on their quarterly average total (MV+interest) return alpha metrics*. For instance, a manager with a score of 82% (for 2Q 2023) indicates that their total return alpha is at the 82nd percentile for that quarter. In simpler terms, the manager's total return alpha metric exceeds that of 82% of their peers for that quarter.
For example, a manager with a score of 89% (2Q 2023) means that its MV return alpha is said to be at the 89th percentile for that quarter. In other words, the manager's MV return alpha metric exceeds that of 89% of its peers.
Looking at the average metrics for 1-3 Q 2022, 2021 and 2020, Wellfleet outperformed its peers on...
A sample of 366 seasoned deals (2016–2019* vintage deals) is included in this study. The benchmark loan index used is...
A sample of 366 deals (2016–2019* vintage deals) is included in this study. The benchmark loan index used is the...
A sample of 366 deals (2016–2019* vintage deals) is included in this study. The benchmark loan index used is the...
Carlyle has witnessed a staggering surge in its US CLO AUM, totaling a remarkable increase of approximately $14.3 billion between January 1, 2022, and June 30, 2023, inclusive of acquisitions.
The pricing of Carlyle's US CLO 2023-3 transaction last week signifies that Carlyle has achieved a significant milestone, surpassing $50 billion in global CLO AUM!
Below are tables presenting the MVOC (AAA-B) and EQ NAV of EU CLO deals by vintage, based on asset prices...
Below are tables presenting the MVOC (AAA-B) and EQ NAV of US BSL CLO deals by vintage, based on asset...
Please see the table below for the full list of US CLO managers and their assets under (US CLO) management (billion) as of 30 June 2023 based on LCD and Intex data. If you’re an investor in the CLO market, we would like to invite you to register with us using your business email address to gain access to our freemium service. Our freemium service is designed to provide you with a glimpse into the value of our premium content and help you gain valuable insights and perspectives in a complex and dynamic market.
When examining the reinvestment profiles of deals managed by large managers with at least around $10 billion of US CLO AUM, it becomes evident that, on average, approximately a quarter of their AUM has already surpassed their reinvestment end dates. Furthermore, another nearly 18% of their AUM is projected to transition out of the reinvestment period within the next year. Notably, among the large managers, Elmwood Asset Management, AGL Credit and Oak Hill Advisors have the best reinvestment period profile.
