Thu, Oct 23, 2014
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

Banner

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. Commodities - Oil wreaking havoc on small-cap energy stocks sliding 36%[more]

    From Bloomberg.com: Owning almost anything in the U.S. stock market has been a losing proposition since September. Owning smaller energy companies has been a catastrophe. Hercules Offshore Inc. and Resolute Energy Corp. are among 19 oil-and-gas equities in the Russell 2000 Index that lost more than

  2. Investing - Hedge funds favor equity long/short, Strategic bond managers hedge against further high yield sell-off[more]

    Hedge funds favor equity long/short From Securitieslendingtimes.com: Equity long/short strategies will generate good returns for hedge funds in the future, according to a panel at this year’s Risk Management Association Conference on Securities Lending in Naples, Florida. Panellists Sand

  3. Legal - Ex-hedge fund analyst weeps as judge hands down 5 year sentence, Former Columbus investment manager Steven P. Moore indicted on theft charges, SEBI confirms ban for Hong Kong hedge fund, SEC announces enforcement action against compliance officer[more]

    Ex-hedge fund analyst weeps as judge hands down 5 year sentence From Hereisthecity.com: An ex-hedge fund analyst was sentenced to 5 years in prison for his role in insider-trading scheme. The New York Post reports that former hedge fund analyst Matthew Teeple was sentenced Thursday to fiv

  4. Goldman in talks to acquire IndexIQ[more]

    From Bloomberg.com: Can Goldman Sachs put ETF investors on a liquid diet? Goldman is in talks to acquire IndexIQ, Reuters has reported. Index IQ is a small exchange-traded-fund firm known mostly for products that replicate hedge fund strategies, called "liquid alternative" ETFs. While IndexIQ has 11

  5. Other Voices: CALPERS dilemma should be a warning to hedge funds wanting institutional investors[more]

    From Ian Hamilton, founder of IDS Group. A quick comment on the CALPERS’ disinvestment from the hedge fund market and the jitters it is causing. Pension Funds should not be sheep and follow CALPERS’ decision as the issues that CALPERS has with hedge fund investments are in many ways unique t