CLOs

A CLO is a collateralized loan obligation or collateralised loan obligation known collectively as CLOs.
CLOs are CDOs that reference loans, such as leveraged loans, SME loans or a bank's whole loan book (a balance sheet CLO). They come in both managed CLO and static CLO form and can be market value CLOs or synthetic CLOs.

  • ICG prepares CLO equity fund to support further issuance

    ICG prepares CLO equity fund to support growth of its CLO business

    Asset manager ICG is preparing to raise a CLO equity fund to support additional European CLO issuance, SCI has learned.

    The fund is intended to finance further issuance rather than expand the firm’s existing CLO management platform, a spokesperson from the firm tells SCI. 

    The fundraising plans come amid separate market speculation about the ownership of ICG’s European CLO business .......

    News 22 October 2026

  • King Street bolsters capital formation team with VWH hire

    Chris Jackson joins as md amid a series of appointments and...

    King Street Capital Management has hired Chris Jackson as a managing director (md) on the capital formation and investor relations team, based in New York.

    Prior to joining King Street, Jackson was md and head of investor relations at VWH Capital, a Dallas-based private credit firm that focuses on “opportunistic strategies” across a spectrum of credit products primarily .......

    News 21 October 2026

  • Views from Miami: Esoterics, digital infra and SRTs set to lead 2027

    Investors anticipate growth in legal credit and sport but remain cautious on the macro-outlook

    Esoteric assets, digital infrastructure and SRTs are at the forefront of the market for 2027 according to discussions at the 32nd annual ABS East conference in Miami, attended by SCI.

    One panellist said assets such as music, sports and legal credit are next for capital growth, and expects permanent capital requirements to push more opportunity into structured credit .......

    News Analysis 20 October 2026

  • Mountain Point leans on data as CLO arbitrage tightens

    The US CLO manager uses a multi-factor risk model to identif...

    Mountain Point Credit is relying on a data-driven, bottom-up approach to credit selection as CLO managers reassess software exposure and face pressure on new issuance economics, according to founder and chief executive Kelly Byrne.

    The manager uses a multi-factor model to assess individual loans and assign risk rankings, aiming to identify vulnerabilities and adjust portfolio .......

    News 20 October 2026

  • Reframing the narrative on captive CLO equity

    CLO equity has a new investor base in the captive era

    A number of CLO managers and investors have pushed back on the wider narrative surrounding the impact of captive equity funds on the global CLO market. 

    Criticism of how these platforms have distorted the primaries in both US and European markets has been loud, with traditional third party equity investors admitting it is becoming very .......

    Talking Point 20 October 2026

  • SCI Risk Sharing Awards: European Law Firm of the Year

    Winner: Latham & Watkins

    SCI selected Latham & Watkins as European Law Firm of the Year in the 2026 Risk Sharing Awards, recognising the firm’s role expanding significant risk transfer (SRT) into new jurisdictions and asset classes. The firm’s strength in multilateral development bank (MDB), development finance institution (DFI) and environmental, social and governance (ESG)-linked structures, combined with strong transaction volume and investor-side .......

    News 19 October 2026

  • European investors weigh up new issue fatigue in crowded CLO primary

    Growing demand for CLO debt is forcing investors to accept decreased allocations

    European CLO investors are split on whether the market is finally showing signs of ‘new issue fatigue’, or if recent spread widening is just a natural correction in an increasingly crowded primary market.

    The global CLO market has been marked by continually strong demand, driven by a number of factors pulling capital into the market, and tight primary new-issue pricing throughout the .......

    News 15 October 2026

  • SCI Risk Sharing Awards: (Re)insurer of the Year

    Winner: AXIS

    AXIS has been named (Re)insurer of the Year in SCI’s 2026 Risk Sharing Awards. The award recognises the team’s disciplined growth, technical expertise and contribution to notable multilateral, emerging-market and other innovative significant risk transfer (SRT) transactions during the awards period.

    Since entering the SRT market in 2022, AXIS has built the business deliberately and on a risk-controlled .......

    News 15 October 2026

  • CME Group sees leveraged loan futures as fast hedge for broad loan exposure

    Traditional asset managers are early adopters, while CLO man...

    CME Group is positioning its newly launched leveraged loan futures as a liquid, standardised way for investors to add or cut broad loan-market exposure quickly, with traditional asset managers likely to be among the first adopters and CLO managers a potential source of demand.

    Following the firm’s S&P UBS USD Liquid Leveraged Loan Index futures .......

    Talking Point 13 October 2026

  • CIFC makes md hire to drive European expansion amid private wealth demand

    CIFC targets European wealth channel as private banks rotate toward CLOs

    CIFC Asset Management is ramping up its European expansion with the hire of Nick White as managing director of its European marketing and investor relations, based in London.

    White will aim at bolstering outreach with investors in the region, positioning the firm for its “next phase of growth” targeting a new segment of the structured .......

    Market Moves 13 October 2026

  • European CLO maturity wall unlikely to trigger sharp refinancing wave

    Managers are expected to weigh reset costs against liability...

    The European CLO market is unlikely to face a sharp refinancing wave as a cohort of deals approaches the end of their reinvestment periods, with managers able to reset transactions, refinance liabilities or allow portfolios to amortise.

    “CLOs do not have much of a maturity wall in the traditional sense, as they typically repay, or refinance and extend, well ahead of their .......

    Talking Point 12 October 2026

  • Job swaps weekly: Barings sees new asset-based finance global head, State Street appoints US CLO lending head

    People moves and key promotions in structured credit

    This week’s roundup of structured credit job swaps sees Barings hire a new ABF global head from Crayhill Capital Management, State Street promoting to Jiaqi Wei to head of US CLO lending and Barclays hiring directors across structured credit origination and distribution and securitised product origination. Elsewhere, Aviva Investors acquires the Adriana Infrastructure CLO, marking a significant milestone in the .......

    Market Moves 9 October 2026

  • ABF holds the line as interval fund boom stalls

    Consumer-linked funds keep delivering while redemptions at p...

    ABF funds are holding the line in a lacklustre year for alternative credit, even as redemptions at private corporate credit vehicles have brought the runaway growth of US interval funds to a halt, according to Gapstow Capital Partners, whose latest peer-group report covers more than 250 alternative credit funds.

    Interval funds expanded by roughly 30-60% annually for five or six years. In .......

    News Analysis 8 October 2026

  • Managers reflect on state of European CLO market

    Technical and fundamental pressures keep CLO managers busy

    Supply shortages, bifurcation, and homogeneity are posing significant challenges for European CLO managers while the primary market remains remarkably robust. 

    Panellists speaking on the manager roundtable at Opal’s European CLO conference in London on Tuesday (6 October) discussed how the market has shifted over the last 12 months, and began by remarking on the market’s impressive resilience .......

    News Analysis 8 October 2026

  • CLO investors flag rising risks as market sentiment turns more fragile

    Investors point to tighter spreads, rising portfolio concentrations and risks around older vintages

    CLO investors at the Opal Group’s European CLO Summit held in London yesterday warned that market conditions are becoming more challenging, with sentiment turning more fragile, portfolio concentrations increasing and concerns growing around older CLO vintages and deals approaching the end of their reinvestment periods.

    The panel noted that the CLO market had benefited for years from quantitative .......

    News 7 October 2026

  • Insurance capital key driver of growing CLO demand

    Life and annuity insurers are increasing their CLO allocatio...

    US life and annuity insurers are continuing to increase their allocations to CLOs as carriers seek attractive sources of spread income while balancing capital efficiency, liquidity and asset-liability management, according to investment management firm Conning.

    Speaking to SCI, Matt Reilly, managing director and head of insurance solutions at Conning says: “CLO exposure has increased significantly across .......

    News Analysis 5 October 2026

  • BDC discounts driven by structure, not CLO fundamentals, says Natixis

    BDC discounts reflect liquidity and fee drag, not a gap in underlying credit quality versus CLOs

    Discounts in publicly traded business development companies (BDC) do not point to a deterioration in underlying credit relative to CLOs, but instead reflect structural differences between the two vehicles, according to Chris Gilbert co-head of the securitised products group at Natixis Corporate and Investment Banking.

    “It’s not quite right” to compare BDCs and CLOs directly, Gilbert .......

    Talking Point 5 October 2026

  • Structured products show resilience amid credit weakness

    Shifting technicals favour cash-rich buyers

    European structured credit primary markets are back up and running after a brief pause last month, and the latest fixings from the SCI Composite Index (SCIx) reveal a deeply bifurcated market with a fierce rally in RMBS, and a mixed bag for ABS and CLO new issues.

    RMBS was the standout tightening .......

    News Analysis 5 October 2026

  • SCI In Focus: EU securitisation talks close in on endgame

    EU securitisation talks narrow key differences, but supervis...

    EU policymakers have narrowed several differences in negotiations over the bloc's securitisation framework, with prudential calibration, the sole-purpose test and significant risk transfer provisions moving closer to finalisation at technical level.

    Documents obtained by SCI provide a detailed account of the positions taken by the European Parliament, Council and European Commission during the latest round of negotiations. The third .......

    News Analysis 2 October 2026

  • Job swaps weekly: Pemberton taps Investcorp's Courtman to lead CLOs

    People move and key promotions in securitisation

    This week’s roundup of structured credit job swaps sees Pemberton Asset Management appoint Dominic Courtman as head of its CLO group as the manager continues to grow its platform. Elsewhere, BlackRock TCP Capital has appointed Dan Worrell as coo across three private credit vehicles, while New York Life Investment Management has agreed to acquire a majority stake in residential .......

    Market Moves 2 October 2026

  • Q2 2025 CLOs set for reset wave as tighter funding improves equity economics

    Expiry of Q2 2025 non-call periods and tighter funding costs...

    European CLO reset and refinancing activity is set to remain elevated into the final quarter of 2026, as deals issued during the wider spread environment of Q2 2025 begin rolling out of their non-call periods.

    According to a Bank of America report, another €11bn-€12bn of reset and refinancing activity will take place in Q4, taking full-year volume to around €60bn .......

    News Analysis 1 October 2026
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