ING Alternative Asset Management, a unit of  ING Investment Management, has been appointed as the successor collateral manager for three CLOs previously managed by Avenue Capital Management II.

ING assumed management of Avenue CLO IV, with $378 million in assets, and Avenue CLO V, with $622 million in assets, on Jan. 29. The firm assumed management of Avenue CLO VI, with $472 million in assets, on Feb 9.

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