CLO Structured Credit

Multi-fund transactions remain the domain of large GPs, but experts note there’s more activity in single-fund versions for managers with less than $15bn in AUM.

There will be increased demand for opportunistic credit as M&A markets remain depressed, says Matt Teichner, managing director and head of credit opportunities at Golub Capital.

The next few years will reward managers with proprietary local origination capabilities, strong deal selectivity and the ability to protect their portfolios, says Kartesia’s head of DACH, Benjamin Schall.

A European trio with decades of asset management and banking experience has just set up Arago Investment Management.

The PEI Private Credit DACH Forum heard from academic Sascha Steffen that credits are starting to move seamlessly between the two markets.

The average time spend fundraising for credit fund strategies has generally risen during the 2020s.

Questions raised over extent of insurers’ borrowing from the Federal Home Loan Banks.

Despite reaching AUM of $50bn, appetite has not been satisfied for collateralised loan obligations – and retailisation is causing the source of that demand to shift to a wider market.

The growth of securitised products is attracting more investors into the space.

The CLO market has challenges, but prospects for the rest of the year look bright as it demonstrates continuing resilience, says Matt Maggio, director and senior portfolio manager in the securitised credit and CLO management team at RBC BlueBay Asset Management.