15
May
Middle market CLOs - From niche to mainstream
As private credit continues its rapid expansion and institutionalisation, middle market CLOs have evolved from an alternative strategy to an established market segment. With 2024 seeing the first ever middle market CLO in Europe and rapid growth in the US space, this panel brings together leading practitioners to examine this maturing market. Our experts will explore:
With traditional BSL CLO markets seeing record issuance in Europe, what competitive advantages do middle market CLOs offer?
How are institutional investors approaching allocation decisions between BSL CLOs, middle market CLOs or private credit CLOs?
What role do factors such as liquidity, yield and correlation play in these decisions?
What innovations in middle market CLO structures are emerging to address investor needs?
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SpeakersBrendan Condon Head of European CLO Structuring Deutsche Bank
Christopher Terry Managing Director of AB Private Credit Investors AllianceBernstein
Daniel Tobias Partner Cadwalader
Joe Carden Managing Director and Head of Fund Finance Cerberus Business Finance
Aaron Scott Partner DECHERT
Alan George Managing Director, Head of Structured Products Golub Capital
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Mr. Carden is a Managing Director for Cerberus Business Finance, the Firm’s middle-market direct lending platform.
Prior to joining Cerberus in 2015, Mr. Carden was a Managing Director at Prime Asset Fund and separately, Managing Director at Guardian Capital from 2012 to 2014. In both roles, he was responsible for sourcing, acquiring, and managing pools of non-performing residential mortgages. From 2010 to 2012, Mr. Carden was Vice President of Operations at Citadel Investment Group, where he managed a team responsible for the middle- and back-office functions related to all structured products and bank debt. Mr. Carden started his career in 2006 at Bank of America Merrill Lynch working in the corporate trust group initially on middle-market CLOs before moving to commercial real estate CLOs.
Mr. Carden graduated from the University of Kansas with a B.S. in Economics.