Notable US CLO AUM Observations
In the CLO market, AUM growth is a fundamental aspect of the business model, with scale playing a crucial role...
In the CLO market, AUM growth is a fundamental aspect of the business model, with scale playing a crucial role...
Given the significantly smaller base of US MM CLO AUM, it is unsurprising that annual growth has continued to remain in double figures. In contrast, US BSL CLO AUM recorded growth rates of just 3.3% and 4.3% in 2024 and 2023, respectively, both of which were lower than the 9.2% growth rate recorded in 2020.
Please refer to the table below, which displays the trends in 2.0 US BSL CLO AUM for each of the top 100 US BSL CLO managers since 2012. The year-end notional AUM (in billions of dollars) for each period is calculated based on the pricing dates of CLO deals and the notional of the underlying collateral. For a consistent comparison, the AUM figures for each manager have been adjusted for mergers and acquisitions and changes in management contracts. In 2024, 37 of the top 100 managers experienced a decrease in their assets under management. Conversely, Elmwood, AGL, and Onex significantly boosted their assets, each securing more than 10% of the total growth recorded that year. Irradiant captured the largest market share of AUM growth in 2023, with Blackstone leading in 2022 and 2021, and RRAM in 2020.
Please refer to the table below, which displays the trends in 2.0 US CLO AUM for each of the top 100 US CLO managers since 2012. The year-end notional AUM for each period is calculated based on the pricing dates of CLO deals and the notional of the underlying collateral.
Please see the graph below that illustrates the trend line for 2.0 US CLO AUM since 2012. The year-end notional AUM for each period is determined based on the pricing dates of CLO deals and the notional of the underlying collateral. The year 2021 witnessed the largest increase in US CLO AUM, followed by 2014.
Please refer to the table below for a complete list of 70 EU CLO managers and their EU CLO collateral AUM trends since 31 December 2017. As of 31 December 2024, the total EU CLO AUM stands at approximately EUR 245 billion, reflecting a CAGR of about 20% over this period. The second table provides a breakdown of each manager’s AUM, organized by reinvestment period (RP) as of 31 December 2024. The third table highlights the ten fastest-growing managers by notional AUM annually since December 2017. The fourth table shows the average annual AUM growth in notional terms for each manager since the closing of their first deal.
