Japanese buyers take the wheel

摘要

An influx of Japanese cash has proved a boon for the European CLO market, but some warn the support of this deep-pocketed investor base will come at a cost, as they wield greater power. Blackstone's cso became the latest CLO manager to tap into this buyer base, clearing the year's largest deal last week with the help of a cornerstone Japanese investor. The blockbuster €558.05m elm park is the eighth European deal to price in less than two months, with the market revived by better sentiment and tighter spreads after a five-week lull.