Institutional alternative investment manager Crestline Investors has partnered with Denali Capital, a syndicated commercial loan asset management firm, to further expand a collateralised loan obligation (CLO) platform.
The business will operate under the name Crestline Denali Capital.
Denali Capital has had a relationship with the principals of Crestline since it began operating in 2001. The new alliance adds a well-established CLO manager to the Crestline family of product offerings and uses Denali Capital's expertise in sourcing and managing syndicated senior loans and related assets for the purpose of structuring and managing high-quality CLOs and other funds.
Under the new agreement, Crestline will sponsor a series of new CLO issuances, the first of which is underway, to be managed by Crestline Denali Capital. In addition to CLOs, the business will be well positioned to pursue investment strategies that meet growing investor interest in the USD800 billion syndicated commercial loan asset class.
"We are pleased to add Denali to the Crestline asset management platform. Denali is well-respected in the industry, with an excellent, long-term track record of CLO management. We expect to generate significant value for our clients by combining Denali's expertise with our opportunistic and direct lending investment activities," says Douglas K Bratton, president and chief investment officer of Crestline.
David Killion, chief executive officer of Denali Capital, says: "We are pleased to renew and strengthen our relationship with Crestline. Together, we will be able to better serve our syndicated loan market partners, deliver attractive returns to both long-standing and new investors and provide enhanced opportunities to our dedicated team."