It is now 10 years since Creditflux launched its first manager awards dinner. And although categories have come and gone as the market has changed, the awards remain unique in their focus on quantifiable and relevant measures of performance and in their importance to the industry.
This year saw record attendance, with more managers, investors and other market participants than ever before packed into the Landmark Hotel in London on 3 May to learn the names of the winning deals and firms. As ever, the event had a strongly transatlantic flavour, with US and European managers in equally strong attendance.
This year, for the first time, there were performance-based awards categories for the best US and European CLO managers, as well as for individual deals. These two categories were based on returns across all of a manager’s eligible CLOs, therefore rewarding consistency of performance.
Similarly, the manager of the year award is given to the credit manager that achieves the best performance across all categories in which it is present, including both CLOs and credit funds.
This year’s manager of the year, PGIM, also came first in the overall European CLO manager category,
and had the best performing individual European CLO.
The only other firm to take home more than one award was London-based Spire Partners, which won best new European CLO. It also came top in a new category for the best boutique CLO manager, which includes US and European firms.
New York-based DFG was among the first time winners of a CLO award. Its Vibrant CLO I V was awarded best new US CLO.
Meanwhile, Millstreet Capital Management was another new name. Its flagship fund won the award for best long-short credit fund. The boutique US manager sent a London-based friend of the firm to collect the award on its behalf.