River Canyon and CLOs

Income-oriented credit strategies that leverage Canyon’s scale, research, and resources

River Canyon and CLOs


River Canyon

Mispricing can occur along the liquidity spectrum. In addition to our focus on stressed, distressed, and special situation investments, we search the more liquid areas of the credit universe for compelling securities that can offer better convexity and the opportunity to generate alpha through security selection.

In 2013, Canyon established River Canyon Fund Management as an investment advisor for its more liquid credit strategies. With an emphasis on structured products, River Canyon’s mandates include a commingled mutual fund as well as bespoke separately managed accounts designed to fit investor objectives. These strategies bring to bear the full resources of the Canyon platform including the research team, trading, legal, and operations.

Please visit the River Canyon Fund Management website to learn more. 

 

CLOs

Canyon has been active in issuing securitized corporate credit vehicles since 2001. The unique structure of a Collateralized Loan Obligation (CLO) features long-term floating rate liabilities, which when combined with careful credit selection of floating rate term loans, can create a resilient vehicle designed to make regular quarterly distributions to investors. Historically, we have been an opportunistic, rather than serial, issuer of CLOs. By keeping our CLO asset base controlled and scaled to the opportunity set, we can utilize our fundamental bottom-up research expertise to take a targeted and value-oriented investment approach. We seek to identify investments that offer attractive relative value in comparison to their fundamental credit risk profiles.

In 2015, Canyon established Canyon CLO Advisors to serve as an investment advisor to manage the CLO business. The CLO strategy brings to bear the full resources of the Canyon platform including the research team, trading, legal, and operations. This integration supports Canyon’s ability to capitalize on fundamental, technical, and regulatory-driven dislocations in the CLO and loan markets.

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