Global CLOs: Manager Factbook – June 2026 (New Version)

Research evidence excerpt

Global CLOs: Manager Factbook – June 2026 (New Version)

Global IdeaM

Managers shown: Managers are shown if they have at least $1 billion or €1 billion of CLO AUM, based on the

eligible deal universe described above. We use each manager’s latest name displayed in Intex, or the name provided

by the manager, and apply that name consistently across all periods.

Industry Exposure by Manager: For each manager, we calculate exposure to a given industry by summing the

contributed balance assigned to that industry and dividing it by the manager’s total assets within the eligible

universe.For the overall universe, shown as All Deals, we calculate industry exposure by summing the contributed

balance assigned to that industry across the relevant market and dividing it by total assets in that market. Both the

numerator and denominator are based only on the eligible deal universe described in Deal Selection. As a result,

industry exposures exclude deals that are outside their reinvestment periods or otherwise do not meet our

selection criteria.

Determining Loan Industry: We use Moody’s industry classifications as the starting point for assigning industries to

individual loans. As our market has expanded, we have noticed that multiple industry classification for a given

unique LoanxID has become more and more common. Because of this, we standardize the industry classification for

each loan to improve consistency across the universe. For each LoanXID, we assign the Moody’s industry

classification that is most common across deals and managers, measured by outstanding balance at a given point in

time. This approach helps reduce noise caused by inconsistent industry labels and allows for more comparable

industry exposure calculations across managers.