AGL Credit Management LP, a private credit investment firm, has closed its inaugural collateralized loan obligation fund at $454 million. AGL CLO I invests in senior floating rate broadly syndicated loans across various industries.
NEW YORK, Nov. 4, 2019 /PRNewswire/ — AGL Credit Management LP (“AGL”), a private credit investment firm specializing in innovative product solutions based on bank loans, announced the closing of the firm’s inaugural Collateralized Loan Obligation vehicle, AGL CLO I. The CLO totals $454 million and is intended to comply with European risk retention regulations.
AGL CLO I invests in senior secured floating rate Broadly Syndicated Loans (“BSL”) across a wide variety of industries.
“We are delighted with the marketplace reception which we think recognized our approach to building a best in class team and platform first, and then investing and executing BSL-based offerings,” said Peter Gleysteen, Chief Executive Officer and Chief Investment Officer of AGL. “Separately, the AGL stable return strategy, a lightly levered strategy providing global institutional investors with target high single digit returns, continues to grow. In total, we increased our assets under management to $1 billion since forming the firm six months ago. We continue to find appropriate BSL investment opportunities with attractive risk-adjusted, cash based returns that should perform well across the economic cycle ahead.”
Wynne Comer, Chief Operating Officer of AGL, added, “The completion of our first CLO continues the firm’s momentum and provides a second channel to drive growth since launching the AGL stable return strategy earlier this year. We thank our investor partners who participated in the transaction and appreciate the support of JP Morgan 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.