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Podcast from the Creditflux editorial team discussing global credit funds and CLOs.
The Last Tranche with Pearl Diver's Layton: its not about tiering, its about portfolio construction
The Last Tranche
30 minutes 16 seconds
2 years ago
The Last Tranche with Pearl Diver's Layton: its not about tiering, its about portfolio construction
In this episode of The Last Tranche, Matt Layton, partner and head of Europe at Pearl Diver Capital, discusses strategies for investing in CLO debt and equity amid the recent rally in liabilities.
Layton says that analysing a manager's past behaviour is a better predictor of CLO equity returns than how a manager is tiered by the debt markets. He adds that some of the tier one managers have shown that they can be prone to sell loans too quickly during recent periods of volatility, which has caused those firms to lose their arbitrage faster than other managers.
#CLO #thelasttranche #Creditflux
The Last Tranche
Podcast from the Creditflux editorial team discussing global credit funds and CLOs.
