Palmer Square Closes Second CLO Fund

Sep 25 2013 | 10:05am ET

Palmer Square Capital Management has closed its second collateralized loan obligation fund of the year—garnering $100 million more than it won for the first.

The Kansas-based firm raised $464 million for the fund. Combined with the $362 million it raised for the first fund in April, it pushes Palmer Square's assets under management to about $2.8 billion.

"Today's fixed-income environment has a lot of headwinds," President Christopher Long told the Kansas City Business Journal. "Investors are worried about interest rate risk, but they want to obtain some yield. Well, CLOs allow you to basically have your cake and eat it, too."

Palmer Square is a subsidiary of Montage Investments, itself owned by Mariner Holdings.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of