Joe Rotondo is senior portfolio manager on MidOcean Partners’ credit investment team. LFI recently caught up with Rotondo to hear his perspectives on the evolving balance of power between BSL and private credit, loan spread compression and the encroachment of AI, among other topics.
LFI: In the weeks since the Fed’s September rate cut ,we’ve seen a string of M&A transactions materialize, giving a much-needed injection of new money to the loan market. Trump’s tariff actions of the last few days, however, appear to have dampened deal flow and stoked some fear in the market. What are your expectations around interest rates, fund flows and M&A through the balance of the year?
Rotondo: First, although tariff policy driven volatility has pushed loan priced lower, it has caused the trend of loan repricings to slow significantly. The abatement of this trend is a positive for CLO cash flow arb…
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