Global credit manager GoldenTree Asset Management closed $725 million in commitments on a second CLO strategy (GLM II) as part of its GoldenTree Loan Management program.
GoldenTree previously raised $600 million in 2016 for the first vintage of the strategy.
More than 60% of investors in GLM II are returning investors from the first vintage of the strategy. Many of GLM II’s investors increased the size of their commitment relative to the previous vintage.
“We are honored that so many investors in our first CLO equity strategy have again entrusted us with their capital and we thank them for their partnership,” Steve Tananbaum, founding partner and chief investment officer for GoldenTree Asset Management, said. “CLOs and CBOs have been an important product offering of [GoldenTree] for more than 20 years. We are proud of our results and are well positioned to continue to deliver differentiated performance in the product.”
Since its inception in 2000, GoldenTree has issued nearly $20 billion of CLOs, with approximately $11 billion currently outstanding. The investment team is comprised of more than 60 individuals with, on average, 16 years of experience. GoldenTree has been an investor in structured credit since 2007 and currently manages more than $6 billion of structured products investments across the firm.
