Shiloh Bates welcomes John Kerschner, Head of U.S. Securitized Products and a Portfolio Manager for JAAA at Janus Henderson, to the podcast. John explains the relative attractiveness of CLO AAAs versus other asset classes; how his team chooses CLO AAAs; and if he thinks the market should expect continued CLO tightening.

In this episode of the CLO Investor podcast, host Shiloh Bates interviews Patrick Wolfe, Senior Portfolio Manager in the Global Credit Platform and Head of U.S. Middle Market CLOs at BlackRock. They discuss the current state of the middle market loans and the risks for CLO investors in today's economy. Patrick explains the differences between middle market loans and broadly syndicated loans, highlighting the need for origination and underwriting in the middle market. He also describes the competition for middle market loans and the importance of reputation and industry specialization in transactions. Other topics include the impact of higher interest rates on borrowers; the potential for increased M&A activity in the middle market; and the importance of valuations and need for standardization in the industry.

Shiloh Bates talks to Nomura Securities CLO Researcher Paul Nikodem in the sixth episode of The CLO Investor podcast. They discuss the process of evaluating CLO managers and also tackle the topic of declining CLO financing costs.