A SPATE of hedge funds and asset managers are diving into the US$1.3 trillion collateralised loan obligation (CLO) market with debut vehicles, fuelling demand for new leveraged loans and pushing up prices for older ones.
Macquarie Asset Management sold its first US collateralised loan obligation earlier this month, while hedge fund Arini, run by former Credit Suisse Group AG star trader Hamza Lemssouguer, priced its debut US CLO in April.
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