New York City-based CBAM, an investment management firm, has raised $504 million for its collateralized loan obligation in which Morgan Stanley was the lead arranger. CBAM is a portfolio company of Eldridge Industries.
NEW YORK, Oct. 10, 2018 /PRNewswire/ — CBAM today announced that it has closed a $504-million collateralized loan obligation (“CLO”), with Morgan Stanley acting as lead arranger. CBAM 2018-8 brings CBAM’s total CLO issuance to $8.4 billion since the close of its first CLO in June 2017. As of September, CBAM was the third largest issuer of new CLOs in 2018 at $3.3 billion. In 2017, CBAM was the largest U.S. issuer of new CLOs at $5.1 billion.
CBAM’s AUM now stands at over $10 billion across multiple credit vehicles and separate accounts as of August 31, 2018.
CBAM, an Eldridge Industries portfolio company, is an investment management firm and SEC-registered investment adviser founded in 2016 by Don Young, Mike Damaso, and Jay Garrett, headquartered in New York. With over $10 billion of AUM, CBAM specializes in opportunities across the credit spectrum for institutional clients through separately managed accounts, CLOs, and private funds. To learn more about CBAM, please visit www.cbam.com.
About Eldridge Industries
Eldridge Industries (“Eldridge”) is a private investment firm specializing in providing both debt and equity capital. Eldridge invests across diversified industries with a focus on media and sports, insurance, real estate development, asset lending and financing, branded food and hospitality, and asset management businesses. In particular, the firm seeks to build and grow companies led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. To learn more about Eldridge Industries please visit www.eldridge.com.