With its eye on the booming European leveraged loan market, Aladdin Capital Management has joined the growing community of U.S. CLO managers setting up shop on the other side of the Atlantic. The firm took a key step toward creating a London-based operation by announcing last Wednesday its hire of leveraged loan market veteran Peter Allan as senior managing director to start the new business.

As the European loan market has grown and developed over the past few years, a number of major players in the U.S. CLO market have extended their operations into Europe. For example, Babson Capital Management and Highland Capital Management have both entered Europe in order to capitalize on loan investment opportunities.

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