AGL Credit Management LP has closed its third collateralized loan obligation at $602.8 million. AGC CLO 3 will invest in senior secured floating rate broadly syndicated loans across various industries.
NEW YORK, March 11, 2020 /PRNewswire/ — AGL Credit Management LP (“AGL”), a private credit investment firm specializing in innovative product solutions based on bank loans, today announced the closing of AGL CLO 3 Ltd. (“the Fund”), the Firm’s third collateralized loan obligation vehicle. The CLO totals $602.8 million in capital commitments and is intended to comply with European risk retention regulations.
AGL CLO 3 continues the same strategy as AGL CLO I and invests in senior secured floating rate Broadly Syndicated Loans (“BSL”) across a wide variety of industries. In addition, the Firm manages a lightly levered strategy based on bank loans that provides global institutional investors with target high single digit returns.
“We were able to upsize the transaction due to significant demand from our investors,” said Peter Gleysteen, Chief Executive Officer and Chief Investment Officer of AGL. “We have now increased our firm’s assets under management to $2.2 billion since launching the firm in March 2019. This rapid success is due largely to the contributions of our seasoned team of investment, credit and operating talent.”
Wynne Comer, Chief Operating Officer of AGL, added, “We appreciate the support of all who invested and participated in the issuance and appreciate the support of Barclays in structuring and marketing the offering.”
About AGL Credit Management LP
AGL Credit Management LP (“AGL”) is a private credit investment firm and registered investment adviser specializing in innovative product solutions designed to deliver secure, stable and scalable returns based on bank loans. AGL was founded by Peter Gleysteen, a widely known innovator in the bank loan market, Thomas. H. Lee, one of the early pioneers in private equity investing and a wholly owned subsidiary of the Abu Dhabi Investment Authority. For more information, visit www.aglcredit.com.