EU Module

EU CLO Equity IRR Performance — Key Takeaways Across Vintages

Among 121 EU CLOs that have been, or are expected to be, fully redeemed, equity tranches from the 2020, 2022, and 2023 vintages stand out with strong final IRRs and average equity NAVs above 100%. The analysis also compares outcomes between first-loss and vertical risk retention deals, which so far have shown broadly similar performance. By vintage, reset deals outperformed non-resets across 2013–2016, underscoring the value of resetting.

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