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Why Europe still awaits a private credit CLO
Tricky questions face managers that plan to launch the structure on the continent
![queue for Europe](/sites/default/files/styles/landscape_750_463/public/2024-04/GettyImages-586187534.jpg.webp?h=22f5a553&itok=XWl3O_fH)
In the years after the 2008 financial crisis, alternative asset managers muscled in on the traditional bank-borrower relationship. Lending directly to companies was not new, but low interest rates supercharged the practice.
And before long those managers – in the US, at least – had also conjured up another way to generate fees and appeal to a wider range of investors. Drawing inspiration from practices in the broadly syndicated loan market, managers started to bundle portfolios of private debt
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