A Modest Proposal: Why Can’t CRE CLOs Be More Like Corporate CLOs?
Here at Dechert, we have market-leading practices in CRE CLO as well as corporate CLOs, including broadly syndicated and middle market structures. So, every day that I peer into these two alternate universes, I’m astonished at how different these two fundamentally similar leverage technologies really are. Certainly, even at a modest remove, they look pretty much the same. A sponsor is looking for match term leverage and has developed a healthy disquietude about the…