JMP Group, the investment banking and alternative asset management firm, has closed on its second collateralized loan obligation since the financial crisis.

The $370.5 million deal, JMP Credit Advisors CLO III, is a cash-flow transaction backed primarily by a diversified portfolio of broadly syndicated leveraged loans. It will increase JMP’s assets under management by roughly 50%, to over $1 billion, once the funds are fully deployed.

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