New York Life Investment Management (NYLIM) announced last week that it closed a $618 million collateralized loan obligation, NYLIM Flatiron CLO 2006. The new CLO, underwritten by Citigroup, and managed by NYLIM's fixed income investors group, marks the sixth collateralized debt obligation for NYLIM.
"With a favorable market for CLO issuance, a vehicle like Flatiron 2006 provides investors with efficient structures and execution," said Robert Dial, managing director and head of NYLIM's leveraged loan team, in a recent release. "We were pleased by the strong investor interest in this deal and gratified by the substantial support demonstrated by our many repeat investors."
NYLIM, a wholly owned subsidiary of New York Life Insurance Co., oversees more than $4 billion in portfolios ranging from institutional accounts, mutual funds and CLOs.
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