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INVESTMENT PROCESS

Proprietary “CLO Analyzer” enables rapid, yet thoughtful responses (typically 10 to 30 minutes) to opportunities. Pricing deals quickly increases our ability to exploit mispricings. The CLO Analyzer maintains and updates critical information on over 800 CLOs.

Disciplined four step process: 

1

Sourcing and Screening

Real-time maintenance/monitoring of proprietary database of over 800 CLOs. 

Focused on vintages with substantial reinvestment windows remaining.

Monitor all BWIC processes and independently evaluate collateral quality.

2

Initial Valuation

Review trustee reports. 

Build proprietary models of subject securities & comps. 

Evaluate collateral quality, manager profile, initial  valuation/pricing.

Communicate pricing guidance to dealer/seller representative.

3

CLO Analyzer Cash Flows & Final Valuation 

Slice & dice collateral and confirm deal structure/terms. 

Refine assumptions on haircuts/implied losses, CDRs. 

Set up deal and all relevant data on the CLO Analyzer and generate final cash flows and price/yield table. 

Final feedback & negotiation with dealers. 

4

Negotiation & Execution 

Finely-tuned analysis of where deals should trade and where they will get bid. 

Know-how to target value with bidding. 

King of the mountains - Alpine Ibex (Cap
Learn About Our
CLO Analyzer Technology

Designed and developed for the Capra Ibex CLO Equity Team by Tom Pascale, former head of Credit Suisse CDO/CLO structuring. The CLO Analyzer builds on over a decade of collaboration between Tom and CIO Michael Kurinets.