Highland Capital Management has put its European CLO business back up for sale after taking it off the block earlier this year, according to Bloomberg.
Natixis SA is managing the sale of five CLOs, valued at $3 billion, the newswire said.
The portfolios had been for sale at the beginning of this year. Armel Leslie, a spokesman for Highland, declined to comment, the report said.
Highland would join Resource America and Aladdin Capital in selling its European CLOs. Some loan managers have been exiting Europe this year as that market fails to recover as quickly as the U.S.
Pramerica Investment Management, Prudential Fixed Income’s U.K.-based asset management business, took over a CLO managed by an Aladdin Capital subsidiary.
Resource America said its subsidiary Resource Europe Management, sold a CLO to an affiliate of Intermediate Capital Group. Octagon Credit Investors also sold its European CLO this year.