Saturday, 30 July 2016
Last updated 4 hours ago
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.