Show Notes
In this episode of The CLO Investor Podcast, Stephanie Setyadi, a Partner at Ivy Hill Asset Management, provides two case studies for the types of businesses that can be found in CLOs.
More from The CLO Investor Podcast
On this episode of the CLO Investor Podcast, Shiloh Bates sits down with Mike Harmon, author of The Financial Restructuring Tool Set: How to Fix Your Broken Balance Sheet. Mike teaches financial restructuring at Stanford and spent 21 years in Oaktree Capital's Special Situations Group. They discuss why defaults remain elevated in a strong economy and why loan recoveries have fallen. They also look at how covenant-lite loans and liability management exercises (LMEs) have changed the restructuring playbook. Mike shares his view on rising default risk in software as AI reshapes the sector, how private credit recoveries compare with broadly syndicated loans, and why manager selection and a seat at the table matter more than ever for CLO investors.
In Episode 41 of the CLO Investor Podcast, Shiloh Bates joins Josef Pschorn of the Fixed + Floating Podcast for an in-depth discussion of today's CLO market. They explore recent CLO equity performance, the self-healing mechanism, loan defaults and recoveries, liability management exercises, and the relative opportunities in broadly syndicated and private credit CLOs. Click here to view the Fixed + Floating episode on Spotify.
This episode is part two of Shiloh Bates' conversation with Chris Gilbert, Co-head of the Securitized Products Group at Natixis. Where the first part covered CLO debt ratings, this episode digs into CLO refinancings and resets — comparing the two options, walking through the economics and payback analysis on refis, and discussing how resets let a manager rebuild the capital structure, extend the reinvestment period, and clean up the portfolio.
In this episode of the CLO Investor Podcast, Shiloh Bates sits down with Chris Gilbert, Co-Head of Securitized Products at Natixis, to explore how CLO debt tranches are rated and examine proposed methodology changes from Fitch and Moody's. The discussion breaks down the mechanics behind CLO ratings, the potential impact of updated rating criteria on CLO investors and issuers, and how regulatory developments such as NAIC capital rules may influence demand across different parts of the CLO capital structure.
In this episode of the CLO Investor Podcast, Shiloh Bates sits down with Sam Garza, Portfolio Manager at DoubleLine, to discuss the evolving CLO market. They explore why CLO debt continues to offer attractive relative value, the challenges facing CLO equity investors, the rise of captive CLO equity funds, and the difference between broadly syndicated and private credit CLOs. The conversation also covers software loan exposure, the impact of AI on credit markets, higher-for-longer interest rates, and proposed rating agency changes that could reshape CLO structures and investor protections.