Mon, May 29, 2017
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. Investing - Tudor Jones backs AI hedge funds, Massive hedge fund trades highlight insider buying: GE, Pentair, Tempur Sealy, Apollo Global and more, Hedge funds big wigs are buying consumer and selling tech, here's the stocks[more]

    Tudor Jones backs AI hedge funds From FT.com: Hedge fund magnate Paul Tudor Jones has invested in a brace of artificial-intelligence powered "quantitative" hedge funds, underscoring the increasing acceptance that the industry will need to turn more to technology and away from traditional

  2. Soon hedge fund investors won't bet on a man, they will bet on a machine[more]

    From Forexlive.com: The Wall Street Journal is in the midst of a 17-part series that looks at the rise of quant funds. The AUM and money invested in quant funds still trails traditional asset managers but the gap is closing. What's truly amazing is volume. Quant funds make up 27% of trading vo

  3. Investing - China's HNA wants to invest in Value Partners, Risk parity investors reap rewards from rebalancing act, SoftBank's $100 billion tech fund rankles VCs as valuations soar[more]

    China's HNA wants to invest in Value Partners From Reuters.com: HNA Group has alighted on a logical, if pricey, target in Hong Kong. The deal-hungry Chinese travel conglomerate known for overpaying wants to invest in Value Partners, one of Asia's few sizeable independent asset managers,

  4. Opalesque Exclusive: Investors warm to ESG, but seek standardization[more]

    Bailey McCann, Opalesque New York: Asset managers and asset owners plan to double their investment in Environmental, Social and Governance (ESG) driven strategies over the next two years, according to a survey from BNP Paribas Securities Services. The report, "Great Expectations: ESG - what's nex

  5. Opalesque Roundtable: France's hidden strengths in AI and machine learning[more]

    Komfie Manalo, Opalesque Asia: All nations offer their strengths and weaknesses, but one that is undisputed is the quality of the French scientists, claimed Guillaume Vidal, co-founder of French technology startup Walnut Algorithms at the