Palmer Square Capital Management Closes Sixth CLO of 2017

Sep 19 2017 | 10:45pm ET

Structured credit specialist Palmer Square Capital Management has closed its sixth collateralized loan obligation of the year, bringing the company’s 2017 tally to nearly $1 billion across four static CLOs and $2.5 billion issued across five managed CLOs.

CLO transactions are designed to invest in broadly-syndicated, senior secured bank loans, the company explained in a statement. In addition to issuing CLOs, Palmer Square also manages total return credit strategies, higher-quality income/short duration strategies, and hedged credit strategies.

“We are pleased with the success of our credit platform,” noted Christopher Long, president of Palmer Square Capital Management, in the statement. “We believe that not only our CLOs, but also the firm’s other credit-focused strategies, provide niche access to an expanded credit opportunity set, diversification in a rising rate environment, and a potential to capture material income and total return.”

Founded in 2009 and headquartered in Kansas City, KS, Palmer Square Capital Management manages portfolios of corporate and structured credit, high yield municipal credit and various hedge fund strategies for institutional investors, RIAs, broker-dealers and high net worth individuals. As of August 31st, 2017, the company managed approximately $4.3 billion in assets. 

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