NEW YORK--(BUSINESS WIRE)--PineBridge Investments LLC (“PineBridge”), the global multi-asset class investment manager, is pleased to announce the successful close of its latest collateralized loan obligation (“CLO”), Galaxy XI CLO, Ltd. The CLO issued approximately US $400 million of notes and closed on August 18, 2011. The CLO notes are secured by a portfolio comprised primarily of senior secured loans purchased on the secondary market.
This is the fourteenth CLO that PineBridge has brought to market. PineBridge manages a total of US$7.2 billion in leveraged finance as of June 30, 2011. Goldman Sachs & Co. acted as placement agent for the transaction.
“We are pleased to bring this CLO to market. This transaction was completed during a challenging and volatile market environment and we appreciate the confidence of our investors and look forward to serving them over the life of the transaction,” said Steven Oh, Managing Director and Co-Head of PineBridge Leveraged Finance.
PineBridge was advised by O’Melveny & Myers LLP in this transaction.
About PineBridge Investments
PineBridge Investments manages US $77.9 billion in assets, as of June 30, 2011 for institutional and individual clients across an extensive platform of listed equity, fixed income, private equity and hedge capabilities. With approximately 800 employees, PineBridge Investments’ strong global network captures local market knowledge and identifies potential opportunities for the benefit of investors around the world.
For additional information on PineBridge Investments, visit www.pinebridge.com.