{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Industry Insights: Exclusive Interviews","title":"EP 16: Inside a Trillion Dollar CLO Market with Vincent Pompliano","html":"","width":"100%","height":180,"duration":2789,"description":"Julie Miecamp, Deputy Global Head of Editorial at Octus, opens the episode by framing a CLO market that has changed almost beyond recognition: past $1 trillion in size, more than 160 managers issuing in the US alone, and the economics of CLO equity shifting under everyone's feet (00:06). She then hands off to Sid Punjabi, CLO Reporter at Octus, who caught Vince Pompliano, Managing Director and Co-Head of the US CLO Platform at Benefit Street Partners, at a real milestone: BSP just priced its 50th new issue CLO (02:19). Vince opens with the big picture, arguing the number one lesson of the past decade is that the structure works, with the waterfall, OC tests, and portfolio quality tests doing exactly what they were built to do (02:53). He pushes back on the negative headlines around Iran and the AI software scare, pointing to positive GDP growth, contained inflation, and borrowers still growing revenue and EBITDA (04:03), and lays out his base case for sustained gross issuance into 2026, helped by refis, resets, and short dated paper giving every investor an entry point (05:48). With the field this crowded, Vince argues return dispersion between managers is only going to widen, which makes the name on the deal matter more, not less (06:58), and walks through BSP's philosophy of building lower risk, more conservative portfolios that still deliver median or better equity distributions (07:45). He reflects on CLO 50 and the platform's growth from roughly $5 billion in AUM when he joined in 2014 to more than $30 billion globally today (08:41), before getting into consolidation, why access to capital and performance will separate the winners, and what actually earns a platform tier one status (13:43). The conversation then goes global: Japan's deepening bid and the rise of regional bank capital (17:51), how Korea, Hong Kong, and Singapore differ in risk appetite down the stack (19:18), and the untapped mezzanine and equity capital sitting in the Middle East (20:33)....","thumbnail_url":"https://img.transistorcdn.com/SWBvXOyNvoxfF-iLZFnaFkVlRfUZj92XsrozzLaQTGk/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS84NmQ2/M2ZiN2I0MTMyNzNm/ZDE5YTNkMWY5NzEx/MjJlMi5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}