Palmer Square Closes $457M CLO

Jun 10 2014 | 10:01am ET

Palmer Square Capital Management has closed its third collateralized loan obligation—a $457 million issuance.

Palmer Square CLO 2014-1, Ltd., which closed June 5, 2014, was arranged by Bank of America Merrill Lynch. Like Palmer Square's first two CLOs, the vehicle is designed to invest primarily in institutional senior secured bank loans. 

Said Christopher D. Long, president of Palmer Square, in a statement: “We are thrilled to have executed on our third successful CLO offering. Given our team’s experience in both structured investments and corporate credit, we believe we have a significant competitive advantage in this area.  We plan to continue enhancing our CLO platform while also executing on investment opportunities across the other facets of our platform, most notably, long/short credit and our other alternative and traditional investment strategies.”

Palmer Square is a boutique credit and alternative investments manager with approximately $4.0 billion in assets under management. The firm is majority-owned by Montage Investments, which is the asset management arm of Leawood, Kansas-based Mariner Holdings, a $32 billion financial services firm.

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