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BlueBay expands CLO capabilities

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Specialist fixed income manager, BlueBay Asset Management (BlueBay) is taking on the US CLO Management business of Royal Bank of Canada (RBC), BlueBay’s parent.

The US based CLO Management business has moved across to BlueBay to be integrated into BlueBay’s CLO management platform, under the leadership of Sid Chhabra, who joined BlueBay in 2018 to build the firm’s structured credit and CLO capabilities.

The US based team of four experienced individuals and the USD500 million CLO they manage expands BlueBay’s capabilities in US Leverage Loans and CLOs and strengthens the 26 strong leveraged finance team of investment professionals, who manage over USD10 billionn in AUM.

Chhabra says: “The addition of Matt Maggio and team provides an exciting opportunity for us to step up our CLO franchise with experienced individuals and has accelerated our plans to manage US focused CLOs. The new additions also support BlueBay’s commitment to continuing to add new strategies and capabilities in liquid and illiquid fixed income.”

Michelle Neal, Head of US FICC and Global Senior Relationship Management at RBC Capital Markets, adds: “RBC’s Leverage Finance franchise continues to demonstrate strength across the value chain of loan activities as we deliver to clients through our originate-to-distribute model spanning underwriting, financing, structuring, distribution and secondary trade support. Moving our US CLO Management platform to BlueBay allows us to continue providing compelling investment solutions for clients sustainable at scale within our asset management complex, while remaining under the broader RBC umbrella.”

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