PineBridge Investments Closes US $598 Million Collateralized Loan Obligation
PineBridge Investments Closes US $598 Million Collateralized Loan Obligation
NEW YORK--(BUSINESS WIRE)-- PineBridge Investments ("PineBridge"), the global multi-asset class investment manager, is pleased to announce the successful close of its latest collateralized loan obligation ("CLO"), Galaxy XV CLO, Ltd. The issuance was upsized to approximately US $598 million of notes and closed today. The notes are secured primarily by a pool of broadly syndicated leveraged loans. The closure of Galaxy XV brings the firm's total leveraged finance assets under management to US $8.8 billion.
Over the last twelve months PineBridge has closed three CLOs totaling more than US $1.5 billion of notes. The firm continues to meet investor demand for yield enhancing investment opportunities coupled with strong analytical oversight.
"We are delighted to close Galaxy XV today -- the seventeenth CLO PineBridge has brought to market and our first in 2013," said John Lapham, Managing Director and Co-Head of PineBridge Leveraged Finance. "We continue to view leveraged loans as an integral part of our continued growth as an organization, and greatly appreciate the ongoing support of our investors and partners."
Goldman Sachs acted as placement agent for the transaction.
About PineBridge Investments
PineBridge is an independent asset manager with over 60 years of experience in emerging and developed markets. We manage US $71.7 billion across our platform for institutional and individual investors worldwide as of 31 December 2012. Our globally integrated investment platform offers innovative, core and specialized alpha-oriented solutions across asset allocation, equities, fixed income, private equity and hedge funds. What differentiates us is our integration of on-the-ground investment teams across asset classes, bringing investors the combined benefits of our global fundamental perspectives and analytical insights.
For additional information on PineBridge Investments, visit www.pinebridge.com.
RLM Finsbury
Annie Kempton / Lauren Steinberg, +1 646-805-2000
PineBridge@RLMFinsbury.com
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