Beach Point raises $397.44m for second CLO

• The close of Sandstone Peak II brings Beach Point’s total CLO platform to over $850 million
• Beach Point has invested in leveraged loans since its inception in 2009
• Based in Santa Monica, California, Beach Point manages $14.8 billion in assets under management as of May 31, 2023

Beach Point has closed its second collateralized loan at $397.44 million.

JP Morgan served as a lead arranger on the CLO, Sandstone Peak II Ltd.

On the transaction, Beach Point Portfolio Manager and head of high yield and leveraged loan strategies Sinjin Bowron said, in a statement “We were very pleased with the strong interest in the firm from investors and are excited about the opportunities ahead for our growing CLO platform. We view this market as an especially attractive one for our approach to credit investing, which emphasizes bottom-up financial and structural analysis with a focus on downside protection, and we look forward to continuing to build on our strong momentum.”

The close of Sandstone Peak II brings Beach Point’s total CLO platform to over $850 million. Beach Point has invested in leveraged loans since its inception in 2009.

Based in Santa Monica, California, Beach Point manages $14.8 billion in assets under management as of May 31, 2023.