Marble Point Credit Management LLC has acquired American Capital CLO Management, LLC, an investment manager with about $3.4 billion in assets under management across eight collateralized loan obligation vehicles. The seller was American Capital Ltd. No financial terms were disclosed. As a result of the transaction, ACCLOM and the CLOs will be rebranded as part of the Marble Point platform.
GREENWICH, Conn.–(BUSINESS WIRE)–Marble Point Credit Management LLC (“Marble Point”) today announced that it has completed the acquisition of American Capital CLO Management, LLC (“ACCLOM”), an investment manager with approximately $3.4 billion in assets under management across eight collateralized loan obligation (“CLO”) vehicles as of December 2016.
The acquisition is expected to provide meaningful benefits to Marble Point and accelerates its business plans and objectives. The transaction will also diversify and significantly expand Marble Point’s investor base.
“The acquisition of the ACCLOM platform represents a significant milestone in Marble Point’s development,” said Thomas Shandell, Chief Executive Officer of Marble Point. “We believe investors globally will seek to increase their exposure to the type of floating rate, senior secured loans in which we invest.”
As part of the transaction, Marble Point and affiliates acquired majority equity positions in seven of the CLOs. Shortly after the closing, ACCLOM and the CLOs are expected to be rebranded as part of the Marble Point platform.
ACCLOM was previously a wholly-owned indirect affiliate of American Capital, Ltd. (NASDAQ:ACAS).
Dechert LLP served as legal counsel to Marble Point and Winston & Strawn LLP served as legal counsel to American Capital, Ltd.
ABOUT MARBLE POINT
Marble Point is a boutique investment manager focused exclusively on investments in floating rate senior secured loans. The firm was founded by Thomas Shandell in partnership with Eagle Point Credit Management LLC. Sumitomo Mitsui Trust Bank, Limited (a Japanese Trust Bank) and GreensLedge Holdings are strategic investors in Marble Point.