NEW YORK, Dec. 14, 2020 /PRNewswire/
-- AllianceBernstein L.P. ("AB") (NYSE: AB), a leading global
investment manager, today announced the closing of AB BSL CLO I, a
$405.4 million collateralized loan
obligation (CLO) with Morgan Stanley acting as lead arranger. This
marks the inaugural CLO for the firm's broadly syndicated loan and
CLO management business established in 2019 and led by Scott Macklin, and initially funded with
investments from Equitable Financial Life Insurance Company.
"We are delighted by the positive response to the transaction
from a wide range of institutional investors and the continued
relationship with Equitable. The quality of execution reflects
confidence in the firm's long-tenured leveraged finance platform,"
said Gershon Distenfeld, Co-Head of
Fixed Income and Director of Credit at AB. "We look forward
to our continued growth in this market and delivering strong
results for our clients over the coming years."
The firm's middle market direct lending platform, AB Private
Credit Investors, has issued nine CLO transactions since 2016
totaling $3.1 billion.
AllianceBernstein is a leading global investment management firm
that offers high-quality research and diversified investment
services to institutional investors, individuals and private wealth
clients in major world markets.
As of September 30, 2020,
including both the general partnership and limited partnership
interests in AllianceBernstein, AllianceBernstein Holding owned
approximately 35.5% of AllianceBernstein and Equitable Holdings,
Inc. ("EQH"), directly and through various subsidiaries, owned an
approximate 65.3% economic interest in AllianceBernstein.
Additional information about AB may be found on our website,