HELP Needed: CLO Investing Case study

Hi,

I was wondering anyone could help me with something.

Basically, I have an interview with a firm that invests in CLOs. However, the exposure I have with CLOs is from my experience at a rating agency, which is purely doing analysis to determine the ratings that should be assigned. I read Offering Memorandum but purley to find outt he mechanics of the deal (ie. waterfall, Reserve fund, deal structure..etc). I was told by the interviewer that I would have to read the Offering Memorandums & Trustee reports of several CLO deals and would need to write a summary that outlines the following:

  • What deal they should invest in?
  • What tranche they should invest in?
  • The features that are normal within the CLO deals
  • The unusual features about the CLO deals

Has anyone got an experience with picking CLO deals to invest in? What aspects of the Offering Memorandum do you pay particular attention to?

Thank you!

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