Babson Capital Announces Closing of CLO 2011-I
September 28 2011 - 9:21AM
Business Wire
Babson Capital Management LLC (Babson Capital), an investment
management firm based in Springfield and Boston, Mass., and
Charlotte, N.C., today announced that it has added $500 million in
assets to its structured credit portfolio with the closing of
Babson CLO Ltd. 2011-I, its first collateralized debt obligation
since 2008.
The newly issued CLO brings to 53 the total number of
collateralized debt obligations (CDOs), including CLOs, managed by
Babson Capital, representing $19.8 billion in AUM as of June 30,
2011. Collateral underlying Babson CLO Ltd. 2011-I consists
primarily of corporate senior secured loans with a small amount of
second-lien loans and high-yield bonds.
“We are grateful for the confidence investors have placed in
Babson Capital and in CLOs, which have demonstrated their
resilience over many market cycles, notably the recent crisis,”
said Russell Morrison, managing director and head of high-yield
investments for Babson Capital.
The transaction was arranged by Citigroup.
As the world’s No. 1 CLO manager by assets under management1 as
well as one of the world’s largest global high yield loan managers,
Babson Capital leverages platform scale, proprietary investment
tools and the combined expertise of 82 investment professionals on
its Structured Credit and Global High Yield teams to understand,
analyze and capture the risk premiums offered by CLOs.
1 – Creditflux, Dec. 2, 2010
About Babson Capital
Babson Capital Management LLC and its subsidiaries serve
institutional investors around the globe and have $135.6 billion in
assets under management as of June 30, 2011. Through proprietary
research and analysis and a focus on investment fundamentals, we
develop products and strategies that leverage our broad array of
expertise in fixed income, equities, alternative, structured
products, debt financing for corporations and debt and equity
financing for commercial real estate. Based in Boston and
Springfield, Mass., and Charlotte, N.C., with offices in New York
City and Los Angeles, the firm’s subsidiaries include Babson
Capital Europe Limited in London, Babson Capital Australia Pty Ltd
in Sydney, Cornerstone Real Estate Advisers LLC in Hartford, Conn.,
and Wood Creek Capital Management, LLC in New Haven, Conn. Babson
Capital is a member of the MassMutual Financial Group and is on the
web at www.BabsonCapital.com.