Pinebridge Investments said today it closed its first collateralized loan obligation of 2013 after upsizing the deal.

Galaxy XV CLO issued $598 million of notes. The firm was originally planning a deal with a par balance of $575 million, according to a presale report issued by Moody’s Investors Service last month.

Moody’s said at the time it had provisionally rated the senior tranche, which was then sized at $357.65 million, an ‘Aaa” rating.

Galaxy XV CLO is backed primarily by a pool of broadly syndicated leveraged loans. Its closure brings Pinebridge’s total leveraged finance assets under management to $8.8 billion.

Goldman Sachs acted as placement agent for the transaction.

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