Citi Capital grows CLOs, loans under management with DiMaio assets

By Susanna Moon

Chicago, Aug. 16 - Citi Capital Advisors said it acquired management responsibilities for four collateralized loan obligations from DiMaio Ahmad Capital LLC, expanding the assets of U.S. CLOs and loans managed by Citi Capital Advisors to $2.8 billion.

The acquisition includes the management of four CLOs: Duane Street CLO I, Ltd., Duane Street CLO II, Ltd., Duane Street CLO III, Ltd. and Duane Street CLO IV, Ltd., collectively managing $2 billion of assets.

Fred Hoffman, managing director and head of Citi Capital Advisors' U.S. investment-grade and high-yield credit business, will oversee the management of the CLO platform.

"CCA has broadened its footprint in fixed-income investment products over the past two years and we plan to further expand our credit product offering in the coming year," Hoffman said.

With the deal, Citi Capital Advisors' global corporate credit funds will manage more than $8.8 billion in notional credit risk that includes distressed, high-yield and investment-grade corporate, bank loans and structured products.

Citi Capital Advisors is a global alternative asset management platform that offers a broad range of innovative strategies and products to select institutional and ultra-high-net-worth investors.

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