Notable EU CLO Deals: Madison Park Euro Funding XI and RRE 6 Loan Management CLO
If these deals are liquidated, UBS AM and Redding Ridge stand to earn incentive fees in the healthy current loan market.
If these deals are liquidated, UBS AM and Redding Ridge stand to earn incentive fees in the healthy current loan market.
The recent pricing of RRE 24 has established a new benchmark for the AAA-BB pricing differential. In today’s higher interest...
According to CLO Research’s independent analysis, RRAM has delivered consistently robust results from both equity and debt perspectives. Here’s a set of interview questions from CLO Research, accompanied by responses from Bhavin Patel, Chief Investment Officer of Redding Ridge Europe.
To calculate the total/MV/interest return alpha, we commence by ascertaining the total/MV/interest investment return for each entire period, such as from a deal’s closing date to the last reporting date. This is accomplished by compounding the portfolio’s monthly (or periodic) total/MV/interest return since the closing date. Subsequently, we annualise the total/MV/interest portfolio return and compare it to the annualised return of the index. The disparity represents the total/MV/interest return alpha depicted here.
The recent reset of the RRE 3 Loan Management CLO saw its weighted average cost of capital (WACC) rise from 156 bps to 179 bps. However, the extension of the reinvestment period to July 2029 has made the upsized reset accretive for equity investors.
The top five managers with the highest number of deals in the top quartile are Oak Hill Advisors, Golub Capital, CSAM, Benefit Street Partners, and Elmwood.
