NEW YORK--(BUSINESS WIRE)--PineBridge Investments (“PineBridge”), the global multi-asset class investment manager, is pleased to announce the successful close of its latest collateralized loan obligation (“CLO”), Galaxy XIV CLO, Ltd. The issuance was upsized to approximately US $520 million of notes and closed on November 15, 2012. The notes are secured primarily by broadly syndicated senior-secured corporate loans. The entire offering was fully or over-subscribed at the upsized amount.
“The upsizing and closing of Galaxy XIV marks another successful investment and asset raise for PineBridge. The offering attracted great interest from both existing and new investors, and we appreciate the confidence that the market continues to show in PineBridge's leveraged finance capabilities”
This is the sixteenth CLO that PineBridge has brought to market, and the second in 2012. It brings the firm’s total leveraged finance assets under management to over US $8 billion.
“The upsizing and closing of Galaxy XIV marks another successful investment and asset raise for PineBridge. The offering attracted great interest from both existing and new investors, and we appreciate the confidence that the market continues to show in PineBridge's leveraged finance capabilities," said John Lapham, Managing Director and Co-Head of PineBridge Leveraged Finance.
Goldman Sachs acted as placement agent for the transaction.
About PineBridge Investments
PineBridge is an independent asset manager with over 60 years of experience in developed and emerging markets. We manage US $69.4 billion across our platform for institutional and individual investors worldwide as of 30 September 2012. Our globally integrated investment platform offers innovative, core and specialized alpha-oriented solutions across asset allocation, equities, fixed income, private equity and hedge funds. What differentiates us is our integration of on-the-ground investment teams across asset classes, bringing investors the combined benefits of global perspectives and structured insights.
For additional information on PineBridge Investments, visit www.pinebridge.com.