Capital Four CLO V reset was recently priced with its AAA at 135 bps. While this may appear wide compared with peers printing in the 128–130 bps area, the 135 bps level is broadly in line with Avoca XXX when measured by...
Some of the top-performing EU CLO managers include RRAM, Brigade Capital, Guggenheim Partners, Partners Group, and Bridgepoint Credit Management.
The following EU CLO deals issued and priced their single-B tranches this year. These were initially structured for delayed issuance...
This study includes a sample of 95 EU CLO deals (closed in 2021 and Jan 2022) managed by 46 managers, using the Morningstar European B Ratings Loan Index as the benchmark loan index. Of particular interest is the substantial representation of small European CLO managers in the top quartile. Notably, half of these high-performing managers are responsible for managing EU CLO assets in the range of EUR 1.0 billion to EUR 2.0 billion. However, it is equally important to recognize that small managers constitute a third of the managers in the lowest quartile. Despite this, small managers—those managing EUR 1.0 to 2.0 billion in EU AUM—have, on average, demonstrated commendable performance when compared with their larger counterparts in the EU CLO market.
