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Peter Gleysteen and Thomas H. Lee launch AGL Credit Management

Monday, March 18, 2019
Opalesque Industry Update - Peter Gleysteen, a veteran bank loan investor, and founder of one of the largest US CLO managers, today announced the launch of AGL Credit Management LP. Peter Gleysteen will serve as Chief Executive Officer and Chief Investment Officer of AGL, and Thomas H. Lee, the Private Equity pioneer, will serve as non-executive chairman.

AGL is a private credit investment firm specializing in innovative actively managed credit solutions based on bank loans. It aims to build a leading CLO franchise while also offering the simple lower-levered stable return strategy that aims to deliver reliable high single digit returns in a safe, efficient and scalable structure, with a significant element of current return.

"Few fixed income products truly target the return objective of institutional investors" said Peter Gleysteen. "AGL was expressly formed to fill this void in the fixed income solution set."

Thomas H. Lee, added, "Peter and his team believe the stable return strategy will resonate with CIOs and fixed income investors as a way to invest in size, and provide the kind of reliable, repeatable income streams that many global institutions seek. I'm excited to partner with Peter and his team and help shape the long-term business strategy as a member of the board."

AGL's institutional investment partners include a subsidiary of The Abu Dhabi Investment Authority (ADIA) and a large US state pension fund, which together committed equity investments totaling $650 million. In addition, the family office of Thomas H. Lee made an investment in AGL.

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