The table below lists the 30 largest US BSL CLO managers, ranked by their US BSL CLO collateral AUM (rather than CLO liabilities), expressed in USD billions, together with their share of the USD 993.1 billion market as of December 31, 2025.
Collateral AUM is used instead of CLO liabilities, as liability notionals would overstate the actual AUM.
| US BSL CLO Manager | US BSL CLO AUM ($ BN) as of 31 Dec 2025 | Market Share | |
| 1 | Blackstone | 37.2 | 3.7% |
| 2 | Carlyle Group | 35.4 | 3.6% |
| 3 | CIFC Asset Management | 31.1 | 3.1% |
| 4 | UBS AM | 29.8 | 3.0% |
| 5 | Redding Ridge Asset Management | 28.6 | 2.9% |
| 6 | Elmwood Asset Management | 23.7 | 2.4% |
| 7 | AGL Credit | 22.9 | 2.3% |
| 8 | Neuberger Berman | 22.6 | 2.3% |
| 9 | Octagon Credit Investors | 22.5 | 2.3% |
| 10 | Ares Management | 22.5 | 2.3% |
| 11 | Benefit Street Partners | 21.8 | 2.2% |
| 12 | Sound Point Capital Management | 21.5 | 2.2% |
| 13 | Oak Hill Advisors | 20.2 | 2.0% |
| 14 | KKR Financial Advisors | 20.1 | 2.0% |
| 15 | Onex Credit Partners | 19.7 | 2.0% |
| 16 | PGIM | 19.3 | 1.9% |
| 17 | Palmer Square Capital Management | 19.0 | 1.9% |
| 18 | Bain Capital Credit | 18.8 | 1.9% |
| 19 | Napier Park Global Capital | 18.6 | 1.9% |
| 20 | Barings | 17.0 | 1.7% |
| 21 | Anchorage Capital Group | 16.6 | 1.7% |
| 22 | Blackrock Financial Management | 16.6 | 1.7% |
| 23 | CVC Credit Partners | 16.1 | 1.6% |
| 24 | Nuveen | 15.5 | 1.6% |
| 25 | Voya Alternative Asset Management | 15.3 | 1.5% |
| 26 | WhiteStar | 14.6 | 1.5% |
| 27 | Golub Capital | 12.4 | 1.2% |
| 28 | Goldentree Asset Management | 11.7 | 1.2% |
| 29 | Sixth Street | 11.0 | 1.1% |
| 30 | Investcorp Credit Management | 11.0 | 1.1% |
Related article:
US BSL CLO Manager Collateral AUM Full Ranking Table (As of December 31, 2025)
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The information, research, data, research-related opinions, observations, and estimates contained in this document have been compiled or arrived at by CLO Research Group, based upon sources believed to be reliable and accurate, and in good faith, but in each case without further investigation. None of CLO Research Group or its service providers; authorised personnel, or their directors make any expressed or implied presentation or warranty, nor do any of such persons accept any responsibility or liability as to the accuracy, timeliness, completeness, or correctness of such sources and the information, research, data, research related opinions, observations and estimates contained in this document. All information, research, data, research-related opinions, observations, and estimates in this document are in draft form as of the date of this document and remain subject to change and amendment without notice. Neither CLO Research Group nor any of their third-party providers shall be subject to any damages or liability for any errors, omissions, incompleteness, or incorrectness of this document. This article is not and should not be construed as an offer, or a solicitation of an offer, to buy or sell securities and shall not be relied upon as a promise or representation regarding the historical or current position or performance of any of the deals or issues mentioned in it.
