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Alternative Market Briefing

Crestline Investors closes CLO with $361m in assets

Friday, October 14, 2016

Komfie Manalo, Opalesque Asia:

Credit focused institutional alternative asset manager Crestline Investors, Inc., which has a total of $9.5bn in assets under management, says the firm has closed its $361m collateralized loan obligation (CLO) Crestline Denali CLO XIV, Ltd., managed by its Crestline Denali Capital unit.

In a statement, Crestline said that the CLO will be backed by a portfolio of primarily senior-secured leveraged loans and will have an approximately four and one-quarter year reinvestment period and a two-year non-call period. This is the second CLO to be sponsored by Crestline in 2016 following the $358.8m Denali Capital CLO XII, Ltd., which closed March 31, 2016.

David Killion, chief executive officer of Crestline Denali Capital, said, "We are pleased with the successful closing of CLO XIV, our second issuance this year. We have continued to grow our base of investors globally including attracting investors from the United States, Europe and Asia. The continued growth of our investor base and the ability to issue two CLOs this year affirms the benefits of the Crestline Investors platform and our ability to structure transactions to meet the ongoing changes to the regulatory framework of our industry."

"The success of this transaction affirms Crestline's strategy of structuring CLOs intended to meet risk re......................

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