CLO Series: Michael Herzig, First Eagle Alternative Credit

This week on Another Fine Mezz, securitization editor Tom Lemmon gave usual podcasters George Smith and Victoria Thiele a well-earned rest. That was to make way for Michael Herzig, senior managing director and head of business development at First Eagle Alternative Credit in the first episode of GlobalCapital's CLO series.The US CLO market is back firing again with some now even contemplating whether 2024 will exceed the banner year of 2021. Herzig discussed how he thinks the rest of the year will play out, how middle-market CLOs will grow in importance, and how the market has helped reinvent itself in the years since the global financial crisis. The second half of the episode discussed Herzig's over 30 years in the industry, including sitting just four desks away from Greg Lippman of Big Short fame as the first rumbles of a looming crisis arrived. Finally, Herzig shares the keys to success in the world of CLOs, perhaps best summarised as "don't be a jerk".  

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