AllianceBernstein, an investment manager, closed AB BSL CLO 2, a $400 million collateralized loan obligation, with JPMorgan Chase acting as lead arranger.
This marks the second CLO for AllianceBernstein’s syndicated loan and CLO management business, which was established in 2019 and is led by Scott Macklin, the company’s director of leveraged loans. The business was initially funded with investments from Equitable Financial Life Insurance Company.
“We are very pleased by the receptivity of the CLO market to AB managed transactions and are thankful to Equitable and the wide array of global liability investors who have entrusted us with their capital,” Gershon Distenfeld, co-head of fixed income and director of credit at AllianceBernstein, said. “The quality of execution reflects confidence in the firm’s top performing, long-tenured leveraged finance platform, and we look forward to our continued growth in the CLO market.”
AllianceBernstein’s middle-market direct lending platform, AB Private Credit Investors, has issued 12 CLO transactions totaling $4.3 billion since 2016.
