London-based financial advisory firm Rothschild has taken over the CLOs of Elgin Capital.
Rothschild has tripled its CLO holdings with the deal to approximately €2 billion ($2.88 billion).
Rothschild also acquired Elgin’s London-based CLO staff.
Elgin’s CLO portfolio includes four cash-flow CLOs named Dalradian I through IV, according to Standard & Poor’s. Dalradian I and II were issued in 2006 and III and IV were issued in 2007, all with transaction sizes between €350 million to €450 million ($505 million to $649 million).
A Rothschild representative was not immediately available for comment.
The news is the latest in CLO consolidation. Earlier this month, Citigroup acquired the management responsibilities for four CLOs from DiMaio Ahmad Capital. And The Carlyle Group purchased the management contract for a $500 million CLO from The Foothills Group.