Citigroup has completed pricing on the latest CLO to hit the market, raising a $408.7 million fund to be managed by WCAS Fraser Sullivan Investment Management, according to a source familiar with the transaction.

The Fraser Sullivan CLO VI includes a $265 million A-1 tranche that pays a coupon of Libor plus 165 basis points, a bit wider than the $407 million Atrium VII CLO priced by Credit Suisse earlier in the month. That CLO, managed by Credit Suisse Asset Management, includes a $253 million triple-A tranche priced at Libor plus 155 basis points. GreensLedge Capital Markets and Mitsubishi UFJ Securities also worked on the CSAM deal, which was one of a number of CLOs that stalled over the summer due to the broader economic turmoil.

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