Collateralised loan obligations (CLOs)
Hedge fund of the year: Napier Park Global Capital
Risk Awards 2015: Credit fund profited from October meltdown
Lawyers tout fixes for CLO risk-retention woes
Affiliates and warehouses could satisfy both US and EU risk-retention rules, lawyers claim
Napier Park finds value in concentrated portfolio of pre-crisis CLOs
In-depth analysis drives performance and picks up underlying quality dispersion
US insurers tap CLO market as banks retreat
Widening spreads lure insurers
Chinese securitisation market risks fragmentation under current dual framework
The existence of multiple rule books may deter issuers and investors in securitisation
Gapstow Opportunity Fund: Gapstow Capital Partners
Americas Awards 2013
Prosiris Global Opportunities Fund: Prosiris Capital Management
Independent thinker
Insurers turn to structured credit in search for yield in Asia
Yielding results
Loans – why now?
Sponsored statement: BNY Mellon
CLO market appeals to yield-hungry investors
Post-financial crisis structured credit has been in hiding: but 2013 has seen the re-emergence of the collateralised loan obligation (CLO) market, with yield-hungry Asian players demonstrating a strong appetite for the paper
Insurers 'must understand risk on non-traditional assets'
Modelling and regulatory impact of new asset classes must be considered in search for higher yield
CPM functions go back to basics
Old-school value
US CLO issuance bouncing back in 2011, say experts
While CLO activity remains below pre-financial crisis levels, a demand for higher yields is driving US investor appetite
Loan spread tightening squeezes CLO arbitrage for managers
Searching for an equilibrium
Oversubscribed CLO points to returning Asian risk appetite, more CLOs expected
Standard Chartered's most recent Start deal proved oversubscribed, suggesting a returning credit risk appetite in Asia. Meanwhile, more CLOs are expected this year.
StanChart sheds Asia credit risk via $1.25bn securitisation
Standard Chartered has reopened its Start collateralised loan obligation programme for the first time since the global finance crisis spread to Asia. The bank has shed $1.25 billion of credit risk related primarily to loans extended to counterparties in…
A bottom-up model with top-down dynamics
Yadong Li proposes a flexible, tractable and arbitrage-free bottom-up dynamic correlation modelling framework with a consistent stochastic recovery specification for multi-name credit derivatives. In this framework, the model’s spread dynamics can be…
Dealers prepping new CDOs
Despite growing risk aversion in the credit markets, behind the scenes dealers are working on new issues of collateralised debt obligations.
Goldman CDO suit throws focus on collateral manager conflicts
Goldman Sachs fraud allegations show portfolio managers credit selection interests are often not aligned with benefiting CDO note-holders, say lawyers.
Happier times for distressed assets?
The distressed assets sitting on the balance sheets of financial institutions have increased in value in recent months, with a variety of firms reporting paper gains. Has the turning point been reached in distressed structured credit assets? Peter…