MetLife Investment Management (MIM), the institutional asset management business of MetLife, closed Galaxy 38 CLO, a $450 million target par new issue collateralized loan obligation (CLO).
PineBridge Investments, which is part of MIM, served as collateral manager for the transaction. BofA Securities acted as arranger. Galaxy 38 marks the 45th CLO issuance by the leveraged finance team.
“Galaxy 38 marks another important milestone for MIM’s CLO platform and reflects the consistency of our approach,” Kevin Wolfson, U.S. CLO and leveraged loan portfolio manager, said. “As MIM continues to grow and scale its platform, we remain focused on disciplined portfolio construction and fundamental credit selection as we seek to deliver attractive outcomes for investors.”
Dan Sherry, U.S. CLO portfolio manager, added: “Reaching our 45th CLO issuance reflects the depth of experience the team has built over many years. As part of MIM, we believe we are well positioned, drawing on the broader resources and capabilities of the MIM platform.”
