Goldman Sachs has launched a $301.5 million CLO to be managed by PineBridge Investments, according to sources.
The CLO, Galaxy XI, includes a $192 million tranche that is rated triple-A by Standard & Poor’s and a $19.5 million tranche rated double-A.
The transaction also includes a $28.5 million single-A-rated tranche, a $15 million triple-B tranche, and a $12.9 million double-B tranche. Additionally, $6.6 million of the debt does not carry a rating, and there is $27 million of subordinated notes.
New York-based PineBridge Investments raised a CLO last year as well.
There has been an uptick in CLO issuance within the last two months. CIFC Deerfield Corp., LCM Asset Management, Invesco, and Apollo Management are the latest firms with visible CLOs on the market.