Cloud 9fin
Private credit CLOs are coming our way
Sep 21, 2023
In this episode of the podcast, Josie Shillito interviews Christine Ferris from JP Morgan about the rise of private credit CLOs in Europe. They discuss the increase in middle-market CLO issuance, the potential for private credit CLOs in Europe, and reflections on starting a career in finance. They also touch on the challenges of balancing work and motherhood.
28:09
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Quick takeaways
- Ivy Hill XXI marked J.P. Morgan's entry into middle-market CLO arranging, indicating the expansion of the mid-market CLO industry.
- Entering the private credit CLO market allows J.P. Morgan to diversify financing options, capture a larger market share, and provide better risk-return profiles for investors compared to broadly syndicated deals.
Deep dives
Introduction of Ivy Hill, the first middle market CLO from J.P. Morgan
Ivy Hill is the first private credit CLO issued by J.P. Morgan, representing a significant milestone for the company. They worked tirelessly to ensure the success of the deal, focusing on investor education and bringing new investors on board. The deal was upsized due to investor demand, with strong interest in the AAA tranches. The structure of the CLO and the investor mix were key factors in the success of Ivy Hill.
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