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BlackRock's Snell joins Tetragon

Thursday, September 20, 2018
Opalesque Industry Update - Tetragon Credit Income Partners today announces that Scott Snell has joined its CLO business. Snell, the former Co-Head of BlackRock's US CLO business, brings nearly 16 years of experience within the US CLO industry and structured credit markets.

"The CLO market continues to be a dynamic space presenting many interesting investment opportunities, both near and long-term, making it an exciting time to add an asset like Scott to our team," said Dagmara Michalczuk, Portfolio Manager in the TCIP team. "As we look to continue to grow in this space, Scott's nearly two decades of experience navigating this sector will be crucial to our expansion and continued success."

Snell added: "Since inception, Tetragon has been a leader in taking majority equity stakes in CLO transactions and forging deep relationships with CLO managers to deliver strong risk-adjusted returns for its investors. I am excited to become a part of this leading credit player and look forward to helping the firm succeed and grow, especially at this moment in the CLO industry."

As a Managing Director and Co-Head of Blackrock's US CLO business, Snell was responsible for asset selection, trading and positioning decisions within certain mutual funds and dedicated CLO separate accounts. Prior to joining BlackRock, Snell was a trader and portfolio manager at Oak Hill Advisors, specializing in structured credit investments. He began his career in financial services as a structured product research analyst at Lehman Brothers following his completion of his MBA program at the University of Michigan.

TCIP is owned by Tetragon Financial Group Limited and is one of the asset managers that comprise TFG Asset Management. Tetragon invests in both externally-managed CLOs and in CLOs managed by TFG Asset Management's LCM and TCIP businesses. A cornerstone of TCIP's approach has been to buy and hold a majority of the residual or "equity" tranches of CLOs which provide exposure to senior secured loans on a levered basis.

Tetragon, directly and through private equity vehicles managed by TCIP, has invested over $2.2 billion in CLO equity, across 97 CLOs managed by 32 managers since inception.

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