BOSTON, June 27, 2018 /PRNewswire/ -- THL Credit
Advisors LLC ("THL Credit" or "the Company"), a leading alternative
credit investment advisor, today announced the signing of a
definitive agreement to acquire the collateral management business
of Kramer Van Kirk Credit Strategies LP ("KVK"). Founded in 2012
and based in Chicago, KVK
currently manages seven collateralized loan obligations (CLOs)
totaling approximately $3.4 billion
of assets.
THL Credit manages both direct lending and broadly syndicated
investments through public and private vehicles, collateralized
loan obligations, separately managed accounts and co-mingled funds.
THL Credit currently manages 15 CLOs, including the recently priced
THL Credit Wind River 2018-1. Based on current AUM, the acquisition
would bring THL Credit's CLO assets under management to
approximately $12.0 billion and the
firm's total AUM to over $15.5
billion.
"We have known and respected Tom
Kramer and Tim Van Kirk for a
long time, both as professionals and as neighbors across the street
from our Chicago office. We
believe KVK's CLOs will complement our existing strategy," said
Brian Good, Senior Managing Director
and Co-Head of Tradable Credit for THL Credit. "This is an
opportunity to further scale our CLO asset base and broaden the THL
Credit platform from which to generate risk adjusted returns for
our investors."
"THL Credit's deep experience with CLOs and syndicated credit
investments makes the firm a great fit for our business and our
team," said Kramer, Principal at KVK. "THL Credit is well prepared
to handle a larger portfolio of CLO investments, and we're looking
forward to working together through this integration."
The closing of the transaction is expected during the summer of
2018, upon receipt of certain required consents.
About THL Credit
THL Credit is an alternative credit investment manager for both
direct lending and broadly syndicated investments through public
and private vehicles, collateralized loan obligations, separately
managed accounts and co-mingled funds. THL Credit maintains a
variety of advisory and sub-advisory relationships across its
investment platforms, including THL Credit, Inc. (Nasdaq: TCRD), a
publicly traded business development company, and THL Credit Senior
Loan Fund (NYSE: TSLF), a non-diversified, closed-end management
investment company.
About Kramer Van Kirk Credit Strategies LP
KVK is a Chicago based senior
secured loan manager founded by principals Tom Kramer and Tim Van
Kirk in late 2011. KVK has raised nine CLOs since it
priced its inaugural 2.0 deal, in May of 2012. The Principals
of KVK were the founding partners of LightPoint Capital Management,
a senior secured loan management firm sold to Lehman Brothers in
2007. For additional information on Kramer Van Kirk Credit
Strategies LP, please visit KVK's website at www.kvkcs.com.
Forward-Looking Statements
Statements made in this press release may constitute
forward-looking statements. Such statements reflect various
assumptions by the Company concerning anticipated results and are
not guarantees of future performance. The accuracy of such
statements involves known and unknown risks, uncertainties and
other factors that, in some ways, are beyond management's control,
including the factors described from time to time in filings by the
Company with the Securities and Exchange Commission. The Company
undertakes no duty to update any forward-looking statements made
herein. All forward-looking statements speak only as of the date of
this press release.
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SOURCE THL Credit Advisors LLC