Creditflux CLO Census 2022
The CLO Census is an anonymous survey which is now in its sixth year. Votes for your own company will not count. The survey will run for two weeks until 19 October with results revealed online in late October. A full analysis of the Census will be produced in Creditflux’s November newsletter
First Name
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Last Name
*
Company
*
Email Address
*
Market participant
*
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CLO banker/trader
CLO manager
CLO investor
CLO service provider (lawyer, rating agency analyst, CLO analytics etc)
CLO MARKET THEMES
If there was one thing you could change to improve the CLO market, what would it be?
What worries you most heading into 2023?
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Defaults
Downgrades
Inflation/Interest rates
Lack of investor participation
Volatility
Other (please specify below)
Nothing to worry about
Other:
What was CLO managers’ primary motivation in issuing a CLO this year?
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Manager fees/growing AUM
Opportunistically (cheap loans)
Third party equity pressure
Underwater warehouse
Other (please specify below)
Other:
How many current US CLO warehouses do you think will be liquidated in the next year?
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>30%
20-29%
10-19%
5-9%
<5%
How many current European CLO warehouses do you think will be liquidated in the next year?
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>30%
20-29%
10-19%
5-9%
<5%
Have you been satisifed by the way the Sofr transition has been rolled out this year?
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Yes
No
Any additional comments in relation to the Sofr transition:
How many CLO managers marketing themselves as ESG compliant are genuinely ESG-compliant?
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Vast majority
Most
Some
Very few
Who is the most ESG-aware US CLO manager and why?
Who is the most ESG-aware European CLO manager and why?
Which US CLO manager has taken the greatest advantage of market volatility this year?
Which European CLO manager has taken the greatest advantage of market volatility this year?
Did CLO managers in general take full advantage of market volatility?
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Yes
No
US AND EUROPEAN CLO PRIMARY, SECONDARY & RESEARCH/STRATEGY
Which US CLO arranger is best at syndicating to a wide group of investors?
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Amherst Pierpont
Baird
Bank of America
Barclays
BMO
BNP Paribas
Brean
Brownstone
Cantor Fitzgerald
Capital One
Citi
Credit Suisse
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
Mizuho
Morgan Stanley
MUFG
Natixis
Natwest Markets
Nomura
Odeon
Raymond James
RBC
SMBC Nikko
Societe Generale
Standard Chartered
Stifel
UBS
UniCredit
Wells Fargo
Which European CLO arranger is best at syndicating to a wide group of investors?
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Amherst Pierpont
Baird
Bank of America
Barclays
BMO
BNP Paribas
Brean
Brownstone
Cantor Fitzgerald
Capital One
Citi
Credit Suisse
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
Mizuho
Morgan Stanley
MUFG
Natixis
Natwest Markets
Nomura
Odeon
Raymond James
RBC
SMBC Nikko
Societe Generale
Standard Chartered
Stifel
UBS
UniCredit
Wells Fargo
Which arranger is best at structuring US CLOs?
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Amherst Pierpont
Baird
Bank of America
Barclays
BMO
BNP Paribas
Brean
Brownstone
Cantor Fitzgerald
Capital One
Citi
Credit Suisse
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
Mizuho
Morgan Stanley
MUFG
Natixis
Natwest Markets
Nomura
Odeon
Raymond James
RBC
SMBC Nikko
Societe Generale
Standard Chartered
Stifel
UBS
UniCredit
Wells Fargo
Which arranger is best at structuring Euro CLOs?
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Amherst Pierpont
Baird
Bank of America
Barclays
BMO
BNP Paribas
Brean
Brownstone
Cantor Fitzgerald
Capital One
Citi
Credit Suisse
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
Mizuho
Morgan Stanley
MUFG
Natixis
Natwest Markets
Nomura
Odeon
Raymond James
RBC
SMBC Nikko
Societe Generale
Standard Chartered
Stifel
UBS
UniCredit
Wells Fargo
Which arranger provides the best US CLO warehouse service?
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Amherst Pierpont
Baird
Bank of America
Barclays
BMO
BNP Paribas
Brean
Brownstone
Cantor Fitzgerald
Capital One
Citi
Credit Suisse
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
Mizuho
Morgan Stanley
MUFG
Natixis
Natwest Markets
Nomura
Odeon
Raymond James
RBC
SMBC Nikko
Societe Generale
Standard Chartered
Stifel
UBS
UniCredit
Wells Fargo
Which arranger provides the best European CLO warehouse service?
-
Amherst Pierpont
Baird
Bank of America
Barclays
BMO
BNP Paribas
Brean
Brownstone
Cantor Fitzgerald
Capital One
Citi
Credit Suisse
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
Mizuho
Morgan Stanley
MUFG
Natixis
Natwest Markets
Nomura
Odeon
Raymond James
RBC
SMBC Nikko
Societe Generale
Standard Chartered
Stifel
UBS
UniCredit
Wells Fargo
Which arranger provides the best access to US loans?
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Amherst Pierpont
Baird
Bank of America
Barclays
BMO
BNP Paribas
Brean
Brownstone
Cantor Fitzgerald
Capital One
Citi
Credit Suisse
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
Mizuho
Morgan Stanley
MUFG
Natixis
Natwest Markets
Nomura
Odeon
Raymond James
RBC
SMBC Nikko
Societe Generale
Standard Chartered
Stifel
UBS
UniCredit
Wells Fargo
Which arranger provides the best access to European loans?
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Amherst Pierpont
Baird
Bank of America
Barclays
BMO
BNP Paribas
Brean
Brownstone
Cantor Fitzgerald
Capital One
Citi
Credit Suisse
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
Mizuho
Morgan Stanley
MUFG
Natixis
Natwest Markets
Nomura
Odeon
Raymond James
RBC
SMBC Nikko
Societe Generale
Standard Chartered
Stifel
UBS
UniCredit
Wells Fargo
Which arranger is most willing to make markets in US CLO tranches?
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Amherst Pierpont
Baird
Bank of America
Barclays
BMO
BNP Paribas
Brean
Brownstone
Cantor Fitzgerald
Capital One
Citi
Credit Suisse
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
Mizuho
Morgan Stanley
MUFG
Natixis
Natwest Markets
Nomura
Odeon
Raymond James
RBC
SMBC Nikko
Societe Generale
Standard Chartered
Stifel
UBS
UniCredit
Wells Fargo
Which arranger is most willing to make markets in European CLO tranches?
-
Amherst Pierpont
Baird
Bank of America
Barclays
BMO
BNP Paribas
Brean
Brownstone
Cantor Fitzgerald
Capital One
Citi
Credit Suisse
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
Mizuho
Morgan Stanley
MUFG
Natixis
Natwest Markets
Nomura
Odeon
Raymond James
RBC
SMBC Nikko
Societe Generale
Standard Chartered
Stifel
UBS
UniCredit
Wells Fargo
Which bank produces the best US CLO research/strategy notes?
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Amherst Pierpont
Baird
Bank of America
Barclays
BMO
BNP Paribas
Brean
Brownstone
Cantor Fitzgerald
Capital One
Citi
Credit Suisse
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
Mizuho
Morgan Stanley
MUFG
Natixis
Natwest Markets
Nomura
Odeon
Raymond James
RBC
SMBC Nikko
Societe Generale
Standard Chartered
Stifel
UBS
UniCredit
Wells Fargo
Which bank produces the best European CLO research/strategy notes?
-
Amherst Pierpont
Baird
Bank of America
Barclays
BMO
BNP Paribas
Brean
Brownstone
Cantor Fitzgerald
Capital One
Citi
Credit Suisse
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
Mizuho
Morgan Stanley
MUFG
Natixis
Natwest Markets
Nomura
Odeon
Raymond James
RBC
SMBC Nikko
Societe Generale
Standard Chartered
Stifel
UBS
UniCredit
Wells Fargo
CLO INVESTORS
Best US CLO equity investor
Best European CLO equity investor
Best US CLO junior debt investor (HY tranches: double B and single B)
Best European CLO junior debt investor (HY tranches: double B and single B)
Best US CLO senior debt investor (IG tranches: triple A to triple B)
Best European CLO senior debt investor (IG tranches: triple A to triple B)
US AND EUROPEAN LAW FIRMS
Which law firm provides the best service to US CLO managers?
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Akin Gump
Allen & Overy
Alston & Bird
Arnold & Porter
Baker & McKenzie
Cadwalader
Chapman & Cutler
Cleary Gottlieb
Clifford Chance
Dechert
Dentons
DLA Piper
Katten
Keating
Latham & Watkins
Linklaters
Locke Lord
Matheson
Mayer Brown
Milbank
Morgan Lewis
Orrick
Paul Hastings
Paul Weiss
Ropes & Gray
Schulte Roth & Zabel
Seward Kissel
Shearman & Sterling
Sidley Austin
Simpson Thacher
Skadden
Weil
White & Case
Winston & Strawn
Which law firm provides the best service to European CLO managers?
-
Akin Gump
Allen & Overy
Alston & Bird
Arnold & Porter
Baker & McKenzie
Cadwalader
Chapman & Cutler
Cleary Gottlieb
Clifford Chance
Dechert
Dentons
DLA Piper
Katten
Keating
Latham & Watkins
Linklaters
Locke Lord
Matheson
Mayer Brown
Milbank
Morgan Lewis
Orrick
Paul Hastings
Paul Weiss
Ropes & Gray
Schulte Roth & Zabel
Seward Kissel
Shearman & Sterling
Sidley Austin
Simpson Thacher
Skadden
Weil
White & Case
Winston & Strawn
Which law firm provides the best service to US CLO arrangers?
-
Akin Gump
Allen & Overy
Alston & Bird
Arnold & Porter
Baker & McKenzie
Cadwalader
Chapman & Cutler
Cleary Gottlieb
Clifford Chance
Dechert
Dentons
DLA Piper
Katten
Keating
Latham & Watkins
Linklaters
Locke Lord
Matheson
Mayer Brown
Milbank
Morgan Lewis
Orrick
Paul Hastings
Paul Weiss
Ropes & Gray
Schulte Roth & Zabel
Seward Kissel
Shearman & Sterling
Sidley Austin
Simpson Thacher
Skadden
Weil
White & Case
Winston & Strawn
Which law firm provides the best service to European CLO arrangers?
-
Akin Gump
Allen & Overy
Alston & Bird
Arnold & Porter
Baker & McKenzie
Cadwalader
Chapman & Cutler
Cleary Gottlieb
Clifford Chance
Dechert
Dentons
DLA Piper
Katten
Keating
Latham & Watkins
Linklaters
Locke Lord
Matheson
Mayer Brown
Milbank
Morgan Lewis
Orrick
Paul Hastings
Paul Weiss
Ropes & Gray
Schulte Roth & Zabel
Seward Kissel
Shearman & Sterling
Sidley Austin
Simpson Thacher
Skadden
Weil
White & Case
Winston & Strawn
Which law firm has been best at advocating on behalf of the US CLO industry?
-
Akin Gump
Allen & Overy
Alston & Bird
Arnold & Porter
Baker & McKenzie
Cadwalader
Chapman & Cutler
Cleary Gottlieb
Clifford Chance
Dechert
Dentons
DLA Piper
Katten
Keating
Latham & Watkins
Linklaters
Locke Lord
Matheson
Mayer Brown
Milbank
Morgan Lewis
Orrick
Paul Hastings
Paul Weiss
Ropes & Gray
Schulte Roth & Zabel
Seward Kissel
Shearman & Sterling
Sidley Austin
Simpson Thacher
Skadden
Weil
White & Case
Winston & Strawn
Which law firm has been best at advocating on behalf of the European CLO industry?
-
Akin Gump
Allen & Overy
Alston & Bird
Arnold & Porter
Baker & McKenzie
Cadwalader
Chapman & Cutler
Cleary Gottlieb
Clifford Chance
Dechert
Dentons
DLA Piper
Katten
Keating
Latham & Watkins
Linklaters
Locke Lord
Matheson
Mayer Brown
Milbank
Morgan Lewis
Orrick
Paul Hastings
Paul Weiss
Ropes & Gray
Schulte Roth & Zabel
Seward Kissel
Shearman & Sterling
Sidley Austin
Simpson Thacher
Skadden
Weil
White & Case
Winston & Strawn
CLO SERVICE PROVIDERS
Which firm provides the best CLO valuation service?
-
Allvue
Alvarez Marsal
BofA PriceServe
Deloitte
Duff & Phelps
EY
Fitch Solutions
Houlihan Lokey
IHS Markit
JP Morgan Pricing Direct
Kanerai via Bloomberg Terminal
KPMG
Methodical Management
MountainView Financial Solutions
Numerix
Prytania Solutions
S&P Capital IQ
Stout
Valuation Research Corporation
Vichara
Vistra
Other (please state)
Which firm provides the best CLO analytics service?
-
Intex
Kanerai
Moody's Analytics
Trepp
Valitana
Others (please state)
Which firm provides the best CLO portfolio management service?
-
Allvue
Alter Domus
Broadridge
Deloitte
IHS WSO
Kanerai
KPMG
Moody's Analytics
Olympus
Oxane
Portfolio BI
Sky Road
TMF Group
US Bank
Valitana Vantage
Virtus Partners
Other (please state)
Which CLO trustee provides the clearest, most timely and accurate reporting?
-
BNP Paribas
BNY Mellon
Citi/Virtus
Computershare
Deutsche Bank
State Street
Sumitomo Mitsui Trust
US Bank
Vistra
Wilmington Trust
Other (please select)
Which firm provides the best offshore fund administration service?
-
AlterDomus
CICS
Harneys
Intertrust SPV
Maples Fiduciary
Ocorian
TMF
Trustmoore
Walkers
Other (please select)
Which firm provides the best offshore legal services?
-
A&L Goodbody
Appleby Global
Arthur Cox
Maples & Calder
Matheson
Walkers
Other (please select)
Which firm provides the best CLO accounting services?
-
Citi Virtus
Deloitte
EY
KPMG
Mazars
PWC
Other (please select)
Which firm provides the best secondary CLO platform?
-
Citi Velocity
Deal Vector
Empirasign
Kanerai
KopenTech
Moody's Analytics
Solve
Valitana
Other (please select)
Which firm provides the best CLO docs service?
-
Claira
Dealscribe
Eigen
ReviewPort
Semeris
Which rating agency does the best job for US CLO investors?
-
DBRS Morningstar
Fitch Ratings
Kroll
Moody's Investor Services
Standard & Poor's
Which rating agency does the best job for European CLO investors?
-
Arc Ratings
Axessor
DBRS Morningstar
Fitch Ratings
Kroll
Moody's Investor Services
Scope
S&P