CLOs continue to grow and evolve amid changing landscapes in the regulatory and market environment in the last few years . CLOs has demonstrated robust performance historically. Nonetheless, worrying signs are emerging despite strong liquidity and low default rates. The Moody’s CLO and Leveraged Loan Conference will delve into these topics in depth, discussing near and longer term implications.
Moody’s annual US CLO and Leveraged Loan Conference provides a unique opportunity to gain insights into current credit trends and their implications from industry leaders and senior Moody’s analysts from our Structured Finance and Corporate Finance groups.
This is a must attend event for everyone in the CLO and leveraged loan sectors.
This panel will provide a forward-looking view of the CLO and leveraged loan markets, including issuance expectations, credit and structural trends, and regulatory changes.
This panel will feature Moody’s analysts’ thoughts on the weakening of leveraged loan credit quality and covenants, and how they will affect the market during the next downturn. The panelists will also discuss Moody’s latest insights on corporate defaults and recoveries.
This panel will bring together CLO managers with a variety of strategies and business models to discuss the challenges and opportunities presented by the robust demand for both CLOs and leveraged loans, as well as how things might look like when the credit environment changes.
This panel will complement the CLO Manager session by having CLO investors discuss what aspects are considered when thinking about the evolving issuance landscape, the current credit cycle, manager evaluations and increasingly nuanced deal structures.
Mark M. Zandi is chief economist of Moody’s Analytics, where he directs economic research. Moody’s Analytics, a subsidiary of Moody’s Corp., is a leading provider of economic research, data and analytical tools. Dr. Zandi is a cofounder of the company Economy.com, which Moody’s purchased in 2005.Read Full Bio
Meredith Coffey is Executive Vice President of the Loan Syndications and Trading Association (LSTA), and runs its Research and Analysis Department. Ms. Coffey co-heads the LSTA’s regulatory and CLO efforts, which help facilitate continued availability of credit and the efficiency of the loan market. In addition, Ms. Coffey heads a team of analysts that are responsible for analyzing current and anticipated loan market developments, helping the LSTA build strategy and improve market efficiency, and providing commentary through weekly newsletters, periodic conferences and webcasts. Ms. Coffey and the analyst team also engage market participants, press and regulators on issues and developments in the global loan market. Ms. Coffey has published analysis on the syndicated loan market in numerous books and periodicals, presents frequently, and has testified before Congress on issues pertaining to the loan and CLO markets.Read Full Bio
Sean Griffin is an Executive Director at JPMorgan Chase and is co-head of the global Primary CLO business. During his time at JPMorgan, Mr. Griffin has worked with a variety of issuers, including private equity, hedge fund, asset/money manager, and insurance companies. Mr. Griffin utilized CLO/CDO technology to provide clients with access to capital and address their business goals, whether it be growth of AUM via traditional CLO/CDO issuance or more specialized bespoke financing solutions. Mr. Griffin's experience covers cashflow and market value securitization products and spans multiple asset classes with a focus on corporate credit/bank loans. Mr. Griffin received a BA in Mathematical Economics from Brown.Read Full Bio
Ms. Lam is a member of Octagon’s Investment Committee and serves as the Portfolio Manager of 6 CLOs, 7 Separately Managed Accounts, and 1 Commingled Fund. Ms. Lam serves as the PM for the Firm’s Structured Credit (CLO Debt & Equity) Investment Strategies. Prior to becoming a Portfolio Manager, Ms. Lam oversaw Octagon's investments in the software, business services, finance & insurance, paper & packaging, gaming & lodging, homebuilding and real estate industries. She was also responsible for the structured credit exposure held in Octagon’s CLO vehicles. Prior to joining Octagon in 1999, Ms. Lam attended Babson College where she graduated Summa Cum Laude with a B.S. in Investments. She received her CFA Charter in 2006.Read Full Bio
Bill Lemberg (Managing Director, CLO Portfolio Manager) joined Post in 2017 to help build and manage the CLO management business. Prior to joining Post, Bill was the Head of the US Loan business at Alcentra where he managed over $8 billion of senior loans (including CLOs) and was a member of the firm’s US investment committee. Prior to joining Alcentra, Bill was a portfolio manager, loan trader and research analyst at Hamilton Asset Management, part of BNY Mellon Capital Markets. Previously, Bill worked as a product specialist and analyst in the loan underwriting and syndication group of BNY Mellon Capital Markets before being promoted to head the primary loan syndication business. Bill received a BA from Columbia University and an MBA from Fordham University.Read Full Bio
Taryn Leonard is a member of Barings’ Structured Credit Investment Group. She is responsible for portfolio management, CLO modeling and structural analysis, collateral manager evaluation and monitoring of CLO investments. Taryn has worked in the industry since 1997 and her experience has encompassed investment, structuring and distribution roles across structured credit. Prior to joining the firm in 2007, she served as a portfolio manager at Axon Financial, and held various positions at FGIC and JP Morgan. Taryn holds a B.A. from Barnard College and an M.B.A. from Columbia Business School.Read Full Bio
Saffet Ozbalci, CFA, Managing Director, is Head of the US CLO business within Global Fixed Income and a member of Securitized Asset Investment Team. Prior to joining BlackRock in 2012, he was with BNP Paribas, most recently as head of CLO trading. Prior to this role, Mr. Ozbalci was a Portfolio Manager at Barclays Global Investors (BGI), where he was responsible for the trading of securitized credit assets and management of short-duration fixed income portfolios. In his previous role, Mr. Ozbalci was an ABS Portfolio Manager at Securities Finance Trust Co. with responsibilities in trading securitized credit assets and the management of core fixed income portfolios. Mr. Ozbalci earned a BS degree in civil engineering from Middle East Technical University in 2001, and an MBA/MS degree in finance from Boston College in 2004.Read Full Bio
Mr. Rotondo is a member of Invesco’s Senior Investment Committee and is responsible for portfolio management and Invesco’s U.S. CLO business. He is also responsible for investments in CLO tranches. Mr. Rotondo joined Invesco in 1998 as a credit analyst and was promoted to portfolio manager in 2000. Prior to joining Invesco, Mr. Rotondo worked with IBJ Whitehall’s Corporate Finance group for two years. At IBJW, he originated and structured senior credit facilities for leveraged buyouts. Before joining IBJW, Mr. Rotondo spent five years with Chase’s corporate lending group. While at Chase, he originated and underwrote corporate loans for middle market businesses. Mr. Rotondo earned a B.A. in economics from Rutgers College and a M.Sc. in international accounting and finance from the London School of Economics.Read Full Bio
Mr. Tyszka is a Managing Director and Senior Analyst in the Ares Credit Group, where he focuses on underwriting structured credit investments. Prior to joining Ares in 2011, Mr. Tyszka was a Director and Founding Member of the Structured Credit Group at Indicus Advisors LLP, where he built a risk surveillance platform to monitor the CLO market. Previously, Mr. Tyszka was a Director in the Risk Management Group at TIAA-CREF. In addition, Mr. Tyszka was an Analyst in the municipal finance industry. Mr. Tyszka holds a B.S. from the Honors College at Michigan State University in Mathematics. He also holds an M.S. from Michigan State University in Materials Science and Engineering and an M.S. from the New York University Courant Institute in Mathematics of Finance.Read Full Bio
Dan Wohlberg is a member of the investment team at Eagle Point Credit Management where he specializes in the analysis and negotiation of CLO, loan accumulation and related trade structuring and documentation. Prior to joining Eagle Point, he advised financial institutions, hedge funds, underwriters, issuers, institutional investors, asset managers and sponsors in structured finance transactions and other complex financings, often in a cross-border context, as well as in connection with derivatives at a leading financial service law firm in New York and Charlotte. Prior to such time, Dan held positions advising banks, asset managers, investors and individuals regarding bankruptcy, federal/state securities laws/regulations and public/OTC derivatives transactions across numerous asset classes.Read Full Bio
Don has 26 years of experience managing CLOs and hedge funds. Most recently, he managed the Performing Credit business for Och-Ziff which included $7.5 billion of CLOs. Prior to joining Och-Ziff, Mr. Young was a Senior Portfolio Manager at Octagon Credit Investors. Earlier, he was a Senior Portfolio Manager at Primus Asset Management, Inc. Prior to that, he was a Principal at Octagon Credit Investors as well as Senior Vice President at Bank of the West.Read Full Bio
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