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GoldenTree Asset Management Closes Second CLO Strategy

Credit manager GoldenTree Asset Management has closed GLM II, the firm's second CLO strategy, at $725mn. The new product is part of the firm's GoldenTree Loan Management program; GoldenTree previously raised $600mn in 2016 for the first vintage of the strategy.

Over 60% of investors in GLM II are returning investors from the first vintage of the strategy, according to the firm.

“We are honoured that so many investors in our first CLO equity strategy have again entrusted us with their capital and we thank them for their partnership,” said Steve Tananbaum, Founding Partner and Chief Investment Officer. “CLOs and CBOs have been an important product offering of GoldenTree’s 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 $20bn of CLOs, with approximately $11bn currently outstanding.

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