PineBridge Investments, a multi-asset class investment manager, has closed its latest collateralised loan obligation (CLO), Galaxy XIV CLO.
The issuance was upsized to approximately USD520m of notes and closed on 15 November 2012.
The notes are secured primarily by broadly syndicated senior-secured corporate loans. The entire offering was fully or over-subscribed at the upsized amount.
This is the 16th CLO that PineBridge has brought to market, and the second in 2012. It brings the firm’s total leveraged finance assets under management to over USD8bn.
“The upsizing and closing of Galaxy XIV marks another successful investment and asset raise for PineBridge. The offering attracted great interest from both existing and new investors, and we appreciate the confidence that the market continues to show in PineBridge's leveraged finance capabilities," says John Lapham, managing director and co-head of PineBridge Leveraged Finance.
Goldman Sachs acted as placement agent for the transaction.