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.