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Risk Retention Fund Vehicles: How will managers overcome 'skin in the game'?

Rob Reynolds of Spire Partners takes a look at some of the questions facing the industry today. He will be speaking at this year's 4th Annual European CLO Congress on 20th-21st September in Barcelona.

On the surface the CLO 2.0 market certainly appears to be oligopolistic. The top 5 managers account for circa 46% of the market and the top 10 firms have approximately 73% market share. Thus the market seems highly concentrated. However, according to Herfindahl-Hirshman index, this is not the case. The European CLO 2.0 market reading is 664 which is below the threshold that economists view as being concentrated.

View the rest of the article here.

This content is provided by Euromoney Seminars for informational purposes only, and it reflects the market and industry conditions and presenter’s opinions and affiliations available at the time of the presentation.