4.8 • 806 Ratings
🗓️ 11 April 2024
⏱️ 50 minutes
🧾️ Download transcript
Shiloh Bates is the Chief Investment Officer at Flat Rock Global, an alternative credit manager specializing in the junior tranches of CLOs. Last year, Shiloh published CLO Investing, a comprehensive review of the structure, payoff rules, and historical performance of CLOs.
Our conversation covers Shiloh's twenty-five years spent in and around the space, an overview of the market, the characteristics of CLOs, the attractiveness of CLO equity relative to other credit opportunities, and Flat Rock’s approach to investing in CLO equity and BBs.
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0:00.0 | Hello, I'm Ted Sides, and this is Capital Allocators. |
0:10.1 | This show is an open exploration of the people and process behind capital allocation. |
0:16.1 | Through conversations with leaders in the money game, we learn how these holders of the keys to the |
0:21.7 | kingdom allocate their time and their capital. You can join our mailing list and access premium |
0:27.8 | content at capital allocators.com. All opinions expressed by TED and podcast guests are |
0:35.0 | solely their own opinions and do not reflect the opinion of capital |
0:37.7 | allocators or their firms. |
0:39.2 | This podcast is for informational purposes only and should not be relied upon as a basis |
0:43.0 | for investment decisions. |
0:44.7 | Clients of capital allocators or podcast guests may maintain positions and securities discussed |
0:49.3 | on this podcast. |
0:51.6 | My guest on today's sponsored insight is Shiloh Bates, the chief investment officer at Flat Rock Global, |
0:58.3 | an alternative credit manager specializing in the junior tranches of CLOs. Last year, Shiloh published |
1:05.2 | CLO investing, a comprehensive review of the structure, payoff rules, and historical performance of the space. |
1:13.8 | Our conversation covers Shaila's 25 years spent in and around the space, an overview of the market, |
1:20.4 | characteristics of CLOs, attractiveness of CLO equity relative to other credit opportunities, |
1:25.9 | and Flat Rock's approach to investing in CLO |
1:29.2 | equity and double Bs. |
1:32.0 | Before we get going, it's springtime in New York, and that means it's time for Yankee baseball. |
1:39.3 | Like each of the last 53 years, I've started dreaming about a perfect season with the Yankees |
1:46.2 | finishing 162 and 0. Now, that's never come remotely close in the history of Major League |
1:53.7 | Baseball, and it never will. But after watching the Yankees sweep the Astros on the road, |
... |
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