Geburtig, Ingo; Mählmann, Thomas; Liebscher, Roberto - In: Journal of Business Finance & Accounting 52 (2024) 1, pp. 222-260
We examine implications from the expansion of private equity (PE) firms into the collateralized loan obligation (CLO) (i.e., leveraged lending) business. Due to similarities in the investment universes of CLO managers and PE firms, asset managers running both of them frequently hold debt and...