League Table: Top 50 Global CLO Managers
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!
How do CLO managers perform from a debt investor’s perspective?
What does the latest arbitrage landscape look like? Which managers consistently show higher post-RP prepayment rates? If you’re curious to explore our premium insights or would like a personal walkthrough of the website via Zoom, feel free to reach out at info@clopremium.co.uk. Please note, due to the proprietary nature of our research, we do not offer free trials.
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 US BSL CLO deals by vintage, based on asset...
Below are tables presenting the MVOC (AAA-B) and EQ NAV of EU CLO deals by vintage, based on asset prices...
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.
Considering that there are always winners and losers in each industry, the diverse positioning by these managers across the aforementioned five industries helps support this point. The fact that managers with varying industry positions can still achieve favorable performance indicates that investors can benefit from a certain level of diversification in the EU CLO market.
Below are tables presenting the MVOC (AAA-B) and EQ NAV of US BSL CLO deals by vintage, based on asset...
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...
Below are tables presenting the MVOC (AAA-B) and EQ NAV of EU CLO deals by vintage, based on asset prices...
Tracking price buckets at 80/70/60 or below for CLO underlying collateral can be useful in assessing tail risk in the...
To address this disparity, users have the option to adjust the spread of each loan through...
Low prepayment rates after the reinvestment period can offer significant advantages to CLO equity investors, assuming the underlying portfolio maintains credit performance. A crucial consideration is whether managers are acquiring assets indiscriminately during the post-reinvestment period solely to prolong the lifespan of the CLO vehicle.
Below are tables presenting the MVOC (AAA-B) and EQ NAV of US BSL CLO deals by vintage, based on asset...
Below are tables presenting the MVOC (AAA-B) and EQ NAV of US BSL CLO deals by vintage, based on asset prices as of 9 June 2023.
The table below presents a list of seasoned EU CLO deals that exhibit single-digit annualised prepayment rates during the first and second years of the initial two-year period following their reinvestment period. The last two columns of the table display the annualised prepayment rates if no purchases were made after the RI end date. In other words, on average, these deals experienced a reduction of 15 percentage points and 11 percentage points in their annual prepayment rates during the first and second years following their reinvestment period, respectively, thanks to the purchases made.