CLOs heat up with BlueMountain, GoldenTree, Saba among players
By Lawrence Delevingne
Thu Oct 25, 2012
Hedge funds are increasingly turning to collateralized loan obligations; the RMBS of 2013? CLOs took the stage at this week's ABS East conference in Miami.
Collateralized loan obligations were the talk of the ABS East
conference in Miami this week.
CLOs have been an important part in the general resurgence
of the asset backed securities market this year, boasting
healthy new issuance and strong returns. The CLO market stalled
after the financial crisis hit but has raced back this year,
with a five-year-high $35 billion issued so far, according to
Intelligence. Some of the new securities in 2012 have
come from firms known for their hedge funds, including Och-Ziff
Capital Management, Onex Credit Partners and Highbridge Capital
It was clear at ABS East--held at the
posh Fontainebleau hotel on South Beach--that hedge funds
are taking note: investor attendance was up substantially and
many sat in on at least one of the six panels focused
"Heading into 2013, everything is rich. Many investors are
trying to find less-rich...
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