Mon, Sep 26, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

CLOs, RMBS, risk transfer trades catching the eye of credit funds

Tuesday, November 19, 2013

amb
Chris Acito
Bailey McCann, Opalesque New York:

Opalesque has reported on indicators that suggest the long bull run for credit funds may be coming to an end. Conventional wisdom says that the opportunity set is dwindling, and the real potential for rising interest rates in the near-ish term will make credit investments less palatable. While this may be true, pockets of the credit universe are showing no signs of slowing down.

CLOs

"We really like new issue CLO equity right now," Chris Acito, CEO/CIO of Gapstow Capital Partners tells Opalesque. Gapstow is a multi-manager hedge fund with just over $1bn in assets under management. "Two years ago, you weren't seeing activity in this market like you are today."

CLO activity is indeed climbing to record levels. Just last week the Carlyle Group closed a $415m CLO fund the firm's sixth new-issue CLO this year, totaling four in the U.S. and two in Europe. Carlyle's third new-issue US CLO fund of 2013 closed in June at $517m. With the close of the latest CLO, Carlyle has raised more than $2.16bn in the US in 2013. Since the beginning of 2011, the firm has raised approximately $5.86bn of CLOs globally including the close last month of a E329.5m European CLO. Carlyle's structured credit/CLO business has $17.5bn in assets under management.

Riskier CLOs - so call......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. North America - Acela fight splits hedge fund Connecticut and old money enclaves[more]

    From Bloomberg.com: Connecticut’s residential coastline is two worlds, the one of newcomer millionaires and one whose wealth and New England roots span generations. Now, their differences over a rail route threaten to gum up plans for the U.S. Northeast’s fastest-ever trains. About 30 miles from Man

  2. Activist News - Caesars offers creditors another $1.6bn, would spell end of hedge fund ownership, Activist investors double chance of CEO exits[more]

    Caesars offers creditors another $1.6bn, would spell end of hedge fund ownership From Calvinayre.com: Casino operator Caesars Entertainment has improved its offer to junior creditors to over $5b, but the offer is only good until Friday. On Wednesday, Caesars added an extra $1.6b to the $

  3. Nobel Sustainability Trust, Prince Albert II of Monaco help launch major new initiative to drive sustainable technologies[more]

    Matthias Knab, Opalesque: The Nobel Sustainability® Trust ("NST") is leading a major new initiative to finance, incubate and accelerate the development of clean technologies. The initiative will start with the formation of the Nobel Sustainability Fund® ("NSF"). NSF will drive faster access t

  4. Hedge funds saw four consecutive months of outflows in August, but assets still up by $17.6bn YTD[more]

    Komfie Manalo, Opalesque Asia: Hedge funds witnessed four consecutive months of outflows with investor redemptions totaling $23.8bn as of end of August, data provider Eurekahedge said in its monthly report. But total hedge fund assets grew by

  5. Trend reversals lead to losses as managed futures drops 1.52% in August[more]

    Komfie Manalo, Opalesque Asia: Trend reversals in August have led managed futures traders to lose 1.52% last month according to the Barclay CTA Index compiled by BarclayHedge. The Index is up 0.62% year to dat