Ep.125 Real Conversations → CLOs Demystified: The Hidden Engine of Yield In Credit Markets w/ Danielle Gilbert, Eldridge Capital Management

May 21, 2025

Join Danielle Gilbert, Managing Director at Eldridge Capital Management, as she unpacks the mysteries of Collateralized Loan Obligations (CLOs). With extensive expertise in structured credit, she discusses the evolving CLO landscape, the impact of macro volatility on yields, and the significance of understanding credit quality. Gilbert also highlights how institutional capital is adapting, the advantages of CLOs over traditional investments, and effective risk management strategies needed during market fluctuations. A crucial listen for investors navigating today’s credit markets!

Ask episode

AI Snips

Chapters

Books

Transcript

Episode notes

ANECDOTE

Danielle's Career in Structured Credit

Danielle Gilbert shared her career journey starting at UBS trading floor in structured credit.
She evolved with the market and now leads CLO-focused ETFs at Eldridge Capital Management.

INSIGHT

CLO Structure Basics

CLOs give access to senior secured loans with a buffer against default.
Investors choose tranches from AAA to BBB or equity based on risk-return preference.

INSIGHT

Key Differences: CLOs vs CDOs

CLOs differ from CDOs by having senior secured loans, active management, and industry diversification.
CLOs show much lower default rates historically than the infamous CDOs linked to the housing crisis.

Get the Snipd Podcast app to discover more snips from this episode

Get the app

***This webcast originally aired live on Hedgeye.com on May 21st, 2025***

In this special edition of Real Conversations, Hedgeye CEO Keith McCullough hosts Danielle Gilbert, Managing Director at Eldridge Capital Management, for a high-level look into the evolving CLO (Collateralized Loan Obligation) market.

Gilbert brings deep domain expertise to break down the risk-reward calculus in today’s CLO landscape. Together, she and Keith tackle key questions around:

The health of the leveraged loan market
Shifts in credit quality and default risk
Where institutional capital is flowing—and why
How macro volatility is reshaping the search for yield

This is a must-watch for fixed-income investors and portfolio managers looking to understand how CLOs are positioned within the broader credit cycle.

Danielle Gilbert is a Managing Director at Eldridge Capital Management. Previously, she was a Managing Director for Business Development at Panagram Structured Asset Management. Prior to Panagram, Ms. Gilbert was Director in securitized product sales at RBC Capital Markets. Earlier in her career, Ms. Gilbert worked as a Managing Director and Partner at RW Pressprich, focused on the distribution of fixed income securities. Prior to RW Pressprich, Ms. Gilbert was Director in structured product sales at UBS and began her career at IBM. She received her B.S. in Industrial Engineering from the University of Illinois Urbana-Champaign.

Visit Hedgeye.com for more great investing content.

Subscribe to other Hedgeye Products Here:
The Call @ Hedgeye
The Macro Show
Signal Strength Stocks
Top St

Hedgeye Founder & CEO Keith McCullough's long-awaited new book, “Master The Market” is available now! In this 52-page e-book, Keith McCullough distills decades of Wall Street experience into actionable insights. Discover how to navigate market cycles, avoid major losses, and invest with the confidence of a seasoned pro. Download your free copy right now. Go to Hedgeye.com/book. That’s Hedgeye.com/book.

Start generating alpha with our suite of “Sector Pro” investing research products. Dive deep into Retail, Industrials, Technology (and everything in between) with exclusive access to the sharpest analysts and actionable ideas on Wall Street. CLICK HERE to check out out product page.

The Call @ Hedgeye is a live webcast that pulls back the curtain on the decision-making process of a world-class hedge fund. Our team of 40+ equity analysts join Hedgeye CEO Keith McCullough weekdays at 7:45am ET to discuss key market developments, trends and our high-conviction long and short investing ideas. You will not get this granular level of insight anywhere else. CLICK HERE to check out our product page.

Turn off that tired “Old Wall” TV and tune into The Macro Show, Hedgeye’s live daily broadcast featuring key market and economic insights, investing implications and interactive viewer Q&A. See for yourself why more and more investors in the U.S. and abroad have made this “must-see” market TV. We are live online every weekday morning at 9:00am ET. CLICK HERE to check out our product page.