- Blackstone Inc. is developing a CLO that blends broadly syndicated loans with private credit, according to people familiar with the matter.
- The hybrid structure allows managers to shift the portfolio between the two asset classes, pairing the higher yields of direct lending with the depth of the leveraged loan market.
- Sona Asset Management pioneered the structure, printing the first hybrid CLO from either side of the Atlantic at the end of last month.
Quotes
“Blackstone Inc. is developing a CLO that mixes broadly syndicated loans with private credit, according to people familiar with the matter, pairing the higher yields of direct lending with the depth of the leveraged loan market.”
“The structure, which allows managers to shift the portfolio between the two asset classes, was pioneered by Sona Asset Management when it printed the first hybrid CLO from either side of the Atlantic at the end of last month.”