New CLO Managers Eye $1.3 Trillion Market, Betting on Return
- Arini, Sona market Europe deals, several new firms debut in US
- Interest follows challenging period for CLO issuance, profits
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A flurry of hedge funds, direct lenders and others are expecting a revival of the $1.3 trillion collateralized loan obligation market — and they want to be ready to reap the benefits when it happens.
Buzzy new names in credit like Arini, the hedge fund set up by former Credit Suisse Group AG star trader Hamza Lemssouger, and Sona Asset Management have been marketing their first European CLO deals. In the US, several new managers have sold deals recently, while private lender Antares Capital sold its first deal backed by broadly syndicated loans in August. See table for deal details.