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Since our formation in 2009, Hayfin has grown to become Europe’s leading alternative asset management platform. We have developed in a measured way to build transatlantic capabilities and establish a growing local presence in Asia.

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We provide critical debt, equity and hybrid capital solutions tailored to the European market. Our product suite is designed to address every financing need of non-investment grade borrowers, providing broad and flexible mandates. Covering both primary and secondary markets and providing financing across the spectrum from growth to stress or distress.
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Hayfin has announced the reset of Hayfin Emerald IX, a €400m Collateralized Loan Obligation (“CLO”), which was first priced in March 2022. The reset closed on 19 December 2025 and attracted demand across the capital stack from repeat and new investors. Hayfin Emerald IX will have a 4.5-year reinvestment period and a 1.5-year non-call period.

The successful completion of this reset concludes a busy year across Hayfin’s Global CLO Platform, with a total of six reset transactions executed in 2025. This includes three prior resets within Hayfin’s European Emerald series, alongside two resets as part of the firm’s US CLO platform, led by Peter Swanson, Hayfin’s Head of US High Yield and Syndicated Loans. As of 31 December 2025, Hayfin’s Global CLO Platform holds more than €7.1 billion in AUM.

Jason Late, Hayfin’s Head of European High-Yield and Syndicated Loans, commented: “This milestone deal marks the final transaction in what has been another busy year for our CLO business. With compressed spreads in 2025 compared to previous years, we believe our strong reset activity has helped optimise overall portfolio structure, supporting our proven ability to manage risk and generate attractive returns for investors across the credit cycle.”

Bank of America acted as an arranger for this reset and the original new issue. Orrick acted as portfolio manager counsel for the reset.

Hayfin is pleased to announce the appointment of Jason Late as Co-Portfolio Manager and Head of Research in its European High-Yield & Syndicated Loans (HYSL) strategy. Jason is based in Hayfin’s headquarters in London and joins the HYSL team led by Gina Germano, who has headed the strategy for over a decade.

Jason brings more than two decades of experience investing in credit markets. Prior to joining Hayfin, Jason spent over five years as Managing Director of Credit at Ares, followed by over two years as a Portfolio Manager at Man Group. Earlier in his career, he held the role of Director at Deutsche Bank for more than three years and various positions in High-Yield at Brookfield Investment Management after starting his finance career at Goldman Sachs in New York.

Mark Tognolini, Co-Founder and Co-Chief Executive Officer, said: “Jason’s hire underscores our commitment to investing in talent and expanding the capacity to deliver the ambition of the HYSL team. The combination of his expertise and leadership will play a crucial role in advancing the strategy, meeting client demand and ensuring that we remain at the forefront of delivering innovative solutions. We look forward to his contributions as the business grows.”

Gina Germano, Portfolio Manager and Head of the European HYSL team, said: “This is a research-led strategy, and Jason’s appointment reflects that ethos. His experience across credit markets and strong analytical judgment will significantly strengthen our capabilities as we seek to identify value and navigate volatility. I look forward to working closely with him as we continue to build and deliver for our investors.”

Jason Late, Co-Portfolio Manager and Head of Research, said: “It’s an exciting opportunity to join Gina and such a capable team as they continue to grow. I’m keen to help harness the skills and creativity of the firm to bring the best solutions possible to Hayfin’s clients.”