European CLO managers benefit from US risk-retention exemption

摘要

European CLO managers are benefiting from a provision in US risk-retention rules that allows them to save money and time by selling some of their funds to American investors without attracting the scrutiny of US regulators. Firms including Blackstone Croup's European credit investment unit are using a foreign safe harbour exemption that allows managers in Europe to sell up to 10% of their fund to US investors without having to comply with US risk-retention rules.