WhiteStar Asset Management (WhiteStar), the CLO, structured products, and broadly syndicated credit arm of Clearlake Capital Group, has acquired the five reinvesting Collateralised Loan Obligations (CLOs) managed by Carlson CLO Advisers, a wholly-owned subsidiary of Carlson Capital.

Totaling more than USD2 billion and branded under the Cathedral Lake shelf, WhiteStar will assume collateral management duties of the Cathedral Lake CLOs effective 31 March, 2022. This marks the second acquisition of CLO contracts by WhiteStar in less than four months.

As a result of this acquisition, WhiteStar manages approximately USD12 billion in CLO assets under management through 27 CLO vehicles, hedge funds, and separate account offerings.