American Capital, Resource Capital bring CLOs; CSAM markets deal; CIFC top U.S. manager

By Cristal Cody

Tupelo, Miss., Aug. 5 – New August CLO issuance includes deals from American Capital CLO Management, LLC and Resource Capital Corp., while another manager is in the pipeline, according to market sources on Wednesday.

American Capital CLO Management sold $510 million of notes in its second CLO transaction of the year.

Resource Capital announced that it priced a $312,937,000 static CRE CLO transaction, the firm’s fourth deal.

“We are again extremely pleased with the support that the institutional investment community has demonstrated in the credit quality of our loans through the successful execution of this transaction just two days after announcing its launch,” Dave Bloom, head of Resource Capital’s real estate, said in a news release.

Bloom said that with the transaction, Resource Capital has match-funded more than $1.4 billion of its self-originated whole loans in under 20 months.

CLO managers have priced more than $76 billion of CLOs in 150 deals year to date, according to data compiled by Prospect News.

Coming up in the deal pipeline, Credit Suisse Asset Management, LLC plans to price a $620 million CLO.

Moody’s Investors Service said in a news release that the rankings of the top 10 CLO managers globally is mostly unchanged from January.

In the U.S. market, CIFC Asset Management remains the leader by number of deals, with 30 CLOs under management, according to Moody’s.

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