Palmer Square Closes Second CLO In 6 Months

Sep 25 2013 | 1:34am ET

Credit-specialist Palmer Square Capital Management has closed its second collateralized loan obligation in six months.

The $464 million Palmer Square CLO 2013-2 closed September 17, 2013, hard on the heels of a $362 million CLO that closed in April. Both transactions were arranged by JPMorgan Chase & Co and both vehicles are designed to invest primarily in institutional senior secured bank loans.

Said Christopher D. Long, president of Palmer Square Capital Management, in a statement: “We always believed that the CLO space was a natural extension of our investment platform given our team’s experience and competitive advantage in structure and credit. Leveraging these two successful offerings, we will continue to enhance our CLO platform and execute on investment opportunities across corporate and structured credit, long/short credit and other alternative strategies.”

Palmer Square is a boutique credit and alternative investments manager with approximately $2.8 billion in assets under management. The firm is majority-owned by Montage Investments, the asset management arm of Leawood, Kansas-based Mariner Holdings, a $24 billion financial services firm.
 


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain Capital: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of