15
May
Case studies: What would investors do? Real-world CLO decision making
In this interactive session, leading CLO investors will analyse three hypothetical but realistic scenarios, sharing their decision-making processes and revealing how they would approach complex investment situations. Each case study will prompt our panellists to think through their risk assessment frameworks, investment criteria and practical solutions in real-time. The session will explore:
Case study 1: A management transition
A well-performing CLO manager announces that three senior team members, including the lead portfolio manager, are departing. The existing portfolio shows strong metrics, but the transition plan is unclear.Case study 2: The large position dilemma
An investor holds a significant position in CLO equity that is approaching its reinvestment end date. Recent market volatility has impacted liquidity.Case study 3: Sector challenge
A CLO has significant exposure to a challenging sector experiencing structural changes. Early warning signs are emerging in underlying collateral performance.
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SpeakersNathan Tipping Reporter Debtwire
Kevin Wong Managing Director CVC Credit
Shiloh Bates Chief Investment Officer Flat Rock Global
Serhan Secmen Global Head of CLO Business Napier Park
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Shiloh Bates, CFA joined Flat Rock Global in 2018 and is a Partner and Chief Investment Officer. Prior to joining Flat Rock Global, Mr. Bates was a Managing Director at Benefit Street Partners where he worked on corporate acquisitions. Prior to that, Mr. Bates was the Head of Structured Products at BDCA Advisor, where he was responsible for investments in CLOs and leveraged loans.
During his 20-year career, Mr. Bates has worked for several CLO managers and is a frequent panelist at CLO conferences. He wrote the book, CLO Investing with a focus on CLO Equity and BB Notes.
A life-long learner, Shiloh has a BA from Virginia Tech in Political Science, an MA in Public Policy from Harvard University, an MA in Financial Mathematics from the University of Chicago, and an MA in Statistics from Columbia University. He was also a specialist in psychological warfare in the US Army Reserves.