Credit manager Sankaty Advisors has acquired four CLO portfolios from asset management firm Regiment Capital Advisors.
The deal includes the management contracts for Cavalry CLO II, Cavalry CLO III, Cavalry IV and Cavalry CLO V, for a total value of $1.6 billion.
Sankaty, the global credit affiliate of hedge fund firm Bain Capital, currently has 12 CLOs in the U.S. and Europe under its management. The addition of the Regiment contracts brings its CLO assets under management to $7.8, and its total assets under management to $28.7 billion, the firm said Nov. 16.“We are pleased to work with the team at Regiment, who we know well, to assume management responsibility for these CLO assets,” Jonathan Lavine, managing partner and CIO at Sankaty, said in the statement. “These assets are complementary to our existing CLO portfolios, which have been an important part of the Sankaty platform since 1999.”
Sankaty invests in leveraged loans, high yield bonds, distressed, stressed and mezzanine debt, structured products, real estate and equities
This addition of the Regiment CLOs is the firm’s latest portfolio addition.
On Nov. 9, Sankaty announced that it signed an agreement to acquire GE Capital's A$2 billion (US$1.4 billion) Australian Commercial Finance portfolio which includes debtor finance, corporate aviation finance, leveraged finance, equipment finance and asset-backed lending. Deutsche Bank acted as co-investor, financier and advisor for the deal.
