Breaking News - Per a leading CLO trader, CLO equity pricing up around 10% off early March lows!!! April NAVs should be up around 5%. Challenges Spread compression continues Big story - Are CLO Equity Captive Funds good for the leverage loan and CLO markets? 70% of CLO equity for 2025 new CLO issuance deals came from Captive CLO Equity Funds. Historically, when loan spreads dropped too much, new CLO issuance slowed down until loan spreads widened out. Debatable if current low