European collateralised loan obligation (CLO) market participants gathered at Opal Group’s European CLO Summit, held at the London Marriott Hotel Grosvenor Square on 6 October 2026, to discuss a market that is supported by strong issuance and broad investor demand, but confronting tighter transaction economics, limited primary loan supply, and increasing credit dispersion. Across the sessions covered in this recap, panellists generally described underlying credit fundamentals as broadly stable. However, loan repricing, competition for performing collateral, and relatively stable liability costs are placing pressure on CLO arbitrage and increasing the importance of portfolio construction, liquidity management, and manager selection.
The conference also highlighted how the European CLO market continues to develop beyond its traditional broadly syndicated loan (BSL) foundations. Middle market (MM) and hybrid CLOs, multicurrency structures, rated feeders, collateralised fund obligations…
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