In this episode of The Last Tranche, Bain Capital Credit managing director John Wright discusses the manager landscape in the CLO market.

Wright talks about the importance of a CLO manager's role in the performance of the asset class. Whether a manager is a small or large firm, whether a manager has a captive equity fund or syndicates, or whether a manager has an aggressive or conservative investment strategy, will impact the outlook of any individual CLO.

Wright also discusses the recent trend of consolidation in the CLO manager base, and argues that we're likely to see more buyouts in the near-term while longer term new managers are likely to continue to emerge.

CLO, Creditflux, The Last Tranche