S&P Global Ratings
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Private Markets Monthly (EMEA Edition), February 2025: What Barings’ Middle-Market CLO Means For The European Market
Twenty years after middle-market collateralized loan obligations (CLOs) emerged as an asset class in the U.S., Europe executed its first middle-market private credit CLO in November 2024. Backed by a portfolio of middle-market senior secured loans, Barings' €380 million middle market CLO 2024-1 DAC defined a momentous milestone for a region that has struggled to develop this market due to regulatory challenges, lack of investor familiarity, limited loan supply, and competition from established debt markets.
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Climate Finance In Lower-Income Countries
Low- and lower-middle-income countries are most vulnerable and least ready to adapt to climate change—yet receive the least amount of investment to transition their economies and build resilience to physical climate risks.