In its latest Q&A, LFI spoke with Shawn Cooper, portfolio manager at Orchard Global – an $8.8bn AUM alternative asset manager with over $1bn invested in CLOs globally.
He discussed why he currently prefers CLO mezzanine debt over CLO equity, which risk factors he is monitoring, CLO manager tiering, and expectations as the market heads into 2026.
LFI: Where do you see value in CLOs heading into the final few weeks of 2025?
Cooper:
Relative value has bounced around this year, but what’s not good value is currently more obvious than what is. Right now, primary CLO equity doesn’t feel like a great place to be. That’s because…
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