Op-Ed: Psychology was a factor in managers’ reluctance to sell out of First Brands

Dagmara Michalczuk, Creditflux, 20 October 2025

As investors we aim to be rational, but these testing times warrant a look at CLO manager decision-making through the lens of behavioural finance, which seeks to explain why investors may sometimes make sub-optimal decisions.

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Op-Ed: As the US CLO market grows, lower quality loans and increased volatility create new challenges

Dagmara Michalczuk, Creditflux, 23 September 2025

As we turn the page on summer, it is natural to pause to consider the road US CLOs have travelled thus far. This being my first column, it also seems apt to reflect on the evolution of the asset class over the past 20 years — not as a sentimental walk down memory lane, but as a prologue for understanding my views of the forces shaping the markets today.

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Dagmara Michalczuk, Co-CIO, spoke with David Graubard at CreditSights about navigating the current CLO markets

CreditSights, 24 April, 2025

Dagmara noted the value of carefully constructed portfolios as well as tactical investment timing seeking to capture opportunities that may be created by elevated asset price volatility.

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