News and Analysis
US CLO triple-A buyer base expands as second largest asset manager begins investing
- Charlie Dinning
- +Tanvi Gupta
•1 min read
Don’t miss out on news you won’t find anywhere else — get The Memo US and The Memo Europe in your inbox every two weeks.
Vanguard is now buying US CLO triple-As in the primary market, according to several 9fin sources. The firm has made its entry point by anchoring triple-A tranches in refinancings and resets, when the existing anchor does not roll into the new deal, sources tell 9fin.
The firm is directly investing in CLOs, and not through accounts that are managed by other asset managers, according to sources. Vanguard has several such arrangements with other asset managers, including Aristotle, DE Shaw, and Wellington.
