Creditflux CLO Census 2023
The CLO Census is an anonymous survey which is now in its seventh year. Votes for your own company will not count. The survey will run for three weeks until 20 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 2024?
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Defaults
Downgrades
Inflation/Interest rates
Investor base
Regulations
Volatility
Other (please specify)
Other:
How concerned are you about the US loan maturity wall?
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Very worried
A little worried
Unconcerned
No view
Is the growth of captive equity funds a positive or negative development?
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Very positive
Positive
Neutral
Negative
Very negative
When will we see electronic trading of CLOs?
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2H23
1H24
2H24
2025
2026+
Never
It’s time to decide. Should we call them MM CLOs or PC CLOs?
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PC CLOs
MM CLOs
Other (please specify)
Other:
Any other comments on the CLO market
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
Apollo
Baird
Bank of America
Barclays
BNP Paribas
Brean
Brownstone
Capital One
Citi
Citizens
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
KeyBank
Mizuho
Morgan Stanley
MUFG
Natixis
NatWest
Nomura
Raymond James
RBC
Scotiabank
SMBC Nikko
Societe Generale
Wells Fargo
Which European CLO arranger is best at syndicating to a wide group of investors?
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Amherst Pierpont
Apollo
Baird
Bank of America
Barclays
BNP Paribas
Brean
Brownstone
Capital One
Citi
Citizens
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
KeyBank
Mizuho
Morgan Stanley
MUFG
Natixis
NatWest
Nomura
Raymond James
RBC
Scotiabank
SMBC Nikko
Societe Generale
Wells Fargo
Which arranger is best at structuring US CLOs?
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Amherst Pierpont
Apollo
Baird
Bank of America
Barclays
BNP Paribas
Brean
Brownstone
Capital One
Citi
Citizens
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
KeyBank
Mizuho
Morgan Stanley
MUFG
Natixis
NatWest
Nomura
Raymond James
RBC
Scotiabank
SMBC Nikko
Societe Generale
Wells Fargo
Which arranger is best at structuring Euro CLOs?
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Amherst Pierpont
Apollo
Baird
Bank of America
Barclays
BNP Paribas
Brean
Brownstone
Capital One
Citi
Citizens
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
KeyBank
Mizuho
Morgan Stanley
MUFG
Natixis
NatWest
Nomura
Raymond James
RBC
Scotiabank
SMBC Nikko
Societe Generale
Wells Fargo
Which arranger provides the best US CLO warehouse service?
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Amherst Pierpont
Apollo
Baird
Bank of America
Barclays
BNP Paribas
Brean
Brownstone
Capital One
Citi
Citizens
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
KeyBank
Mizuho
Morgan Stanley
MUFG
Natixis
NatWest
Nomura
Raymond James
RBC
Scotiabank
SMBC Nikko
Societe Generale
Wells Fargo
Which arranger provides the best European CLO warehouse service?
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Amherst Pierpont
Apollo
Baird
Bank of America
Barclays
BNP Paribas
Brean
Brownstone
Capital One
Citi
Citizens
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
KeyBank
Mizuho
Morgan Stanley
MUFG
Natixis
NatWest
Nomura
Raymond James
RBC
Scotiabank
SMBC Nikko
Societe Generale
Wells Fargo
Which arranger provides the best access to US loans?
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Amherst Pierpont
Apollo
Baird
Bank of America
Barclays
BNP Paribas
Brean
Brownstone
Capital One
Citi
Citizens
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
KeyBank
Mizuho
Morgan Stanley
MUFG
Natixis
NatWest
Nomura
Raymond James
RBC
Scotiabank
SMBC Nikko
Societe Generale
Wells Fargo
Which arranger provides the best access to European loans?
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Amherst Pierpont
Apollo
Baird
Bank of America
Barclays
BNP Paribas
Brean
Brownstone
Capital One
Citi
Citizens
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
KeyBank
Mizuho
Morgan Stanley
MUFG
Natixis
NatWest
Nomura
Raymond James
RBC
Scotiabank
SMBC Nikko
Societe Generale
Wells Fargo
Which arranger is most willing to make markets in US CLO tranches?
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Amherst Pierpont
Apollo
Baird
Bank of America
Barclays
BNP Paribas
Brean
Brownstone
Capital One
Citi
Citizens
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
KeyBank
Mizuho
Morgan Stanley
MUFG
Natixis
NatWest
Nomura
Raymond James
RBC
Scotiabank
SMBC Nikko
Societe Generale
Wells Fargo
Which arranger is most willing to make markets in European CLO tranches?
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Amherst Pierpont
Apollo
Baird
Bank of America
Barclays
BNP Paribas
Brean
Brownstone
Capital One
Citi
Citizens
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
KeyBank
Mizuho
Morgan Stanley
MUFG
Natixis
NatWest
Nomura
Raymond James
RBC
Scotiabank
SMBC Nikko
Societe Generale
Wells Fargo
Which bank produces the best US CLO research/strategy notes?
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Amherst Pierpont
Apollo
Baird
Bank of America
Barclays
BNP Paribas
Brean
Brownstone
Capital One
Citi
Citizens
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
KeyBank
Mizuho
Morgan Stanley
MUFG
Natixis
NatWest
Nomura
Raymond James
RBC
Scotiabank
SMBC Nikko
Societe Generale
Wells Fargo
Which bank produces the best European CLO research/strategy notes?
-
Amherst Pierpont
Apollo
Baird
Bank of America
Barclays
BNP Paribas
Brean
Brownstone
Capital One
Citi
Citizens
Deutsche Bank
Goldman Sachs
GreensLedge
Guggenheim
Janney Montgomery Scott
Jefferies
JP Morgan
KeyBank
Mizuho
Morgan Stanley
MUFG
Natixis
NatWest
Nomura
Raymond James
RBC
Scotiabank
SMBC Nikko
Societe Generale
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
DLA Piper
Latham & Watkins
Linklaters
Matheson
Mayer Brown
Milbank
Morgan Lewis
Orrick
Paul Hastings
Ropes & Gray
Schulte Roth & Zabel
Seward Kissel
Sidley Austin
Simpson Thacher
Skadden
Weil
White & Case
Winston & Strawn
Which law firm provides the best service to European CLO managers?
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Akin Gump
Allen & Overy
Alston & Bird
Arnold & Porter
Baker & McKenzie
Cadwalader
Chapman & Cutler
Cleary Gottlieb
Clifford Chance
Dechert
DLA Piper
Latham & Watkins
Linklaters
Matheson
Mayer Brown
Milbank
Morgan Lewis
Orrick
Paul Hastings
Ropes & Gray
Schulte Roth & Zabel
Seward Kissel
Sidley Austin
Simpson Thacher
Skadden
Weil
White & Case
Winston & Strawn
Which law firm provides the best service to US CLO arrangers?
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Akin Gump
Allen & Overy
Alston & Bird
Arnold & Porter
Baker & McKenzie
Cadwalader
Chapman & Cutler
Cleary Gottlieb
Clifford Chance
Dechert
DLA Piper
Latham & Watkins
Linklaters
Matheson
Mayer Brown
Milbank
Morgan Lewis
Orrick
Paul Hastings
Ropes & Gray
Schulte Roth & Zabel
Seward Kissel
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
DLA Piper
Latham & Watkins
Linklaters
Matheson
Mayer Brown
Milbank
Morgan Lewis
Orrick
Paul Hastings
Ropes & Gray
Schulte Roth & Zabel
Seward Kissel
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?
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Akin Gump
Allen & Overy
Alston & Bird
Arnold & Porter
Baker & McKenzie
Cadwalader
Chapman & Cutler
Cleary Gottlieb
Clifford Chance
Dechert
DLA Piper
Latham & Watkins
Linklaters
Matheson
Mayer Brown
Milbank
Morgan Lewis
Orrick
Paul Hastings
Ropes & Gray
Schulte Roth & Zabel
Seward Kissel
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
DLA Piper
Latham & Watkins
Linklaters
Matheson
Mayer Brown
Milbank
Morgan Lewis
Orrick
Paul Hastings
Ropes & Gray
Schulte Roth & Zabel
Seward Kissel
Sidley Austin
Simpson Thacher
Skadden
Weil
White & Case
Winston & Strawn
CLO SERVICE PROVIDERS
Which firm provides the best CLO valuation service?
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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
Other (please state)
Which firm provides the best CLO portfolio management service?
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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
Computershare
Deutsche Bank
State Street
US Bank
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
Other (please select)
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