NEW YORK, April 16, 2015 /PRNewswire/ -- Mariner Investment Group, the global alternative asset manager, today announced the closing of a $505 million collateralized loan obligation (CLO). This is the second such transaction by Mariner's 13-member corporate credit team, recently acquired from Mariner's strategic partner, ORIX USA, with the first such issuance closing in December 2014.
"We are pleased to capitalize on the strong demand in the CLO market and close on our second CLO in four months," said David Martin, co-head of Mariner's corporate credit team. "We believe that the strength of our team and of the Mariner platform, as well as Mariner's partnership with ORIX, uniquely positions us to take advantage of favorable market dynamics in this space and continue to grow our business."
"We are delighted to see strong investor interest in our corporate credit team's offerings," said Bracebridge Young, Mariner's Chief Executive Officer. "I am especially pleased by our team's smooth transition since joining Mariner. Their ability to close on a second transaction in a relatively short period testifies to the strength of our partnership with ORIX, and I look forward to the continued success of our CLO business."
Mariner's corporate credit team is co-led by David Martin and Erik Gunnerson, who bring nearly 30 years of combined investment expertise. Prior to joining Mariner in the fall of 2014, Martin and Gunnerson were co-heads of the leveraged loan and high-yield bond business at ORIX USA.
Mariner Investment Group, LLC
Mariner Investment Group, LLC, is an SEC registered investment adviser and manages approximately $13.5 billion of assets together with its associated advisers consisting of several direct and affiliated single and multi-strategy hedge funds, funds of funds and other alternative investments services. Founded in 1992, Mariner and its associated advisers employ approximately 230 people in New York, Boston, London, Tokyo, Seoul, Philadelphia, Dallas, Harrison (NY), Rowayton (CT), and Summit (NJ).
ORIX USA Corporation
ORIX USA provides innovative capital solutions that clients need to propel their business to the next level. Based in Dallas, ORIX USA has a team of more than 1,400 employees spanning seven primary offices across the U.S. and Brazil. ORIX USA and its family of companies offer investment capital, asset management and financial advisory services to clients in the corporate, real estate and municipal finance sectors, while holding $7 billion of assets and managing an additional $30 billion, approximately. Our parent company, ORIX Corporation, is a Tokyo-based, publicly owned international financial services company with operations in 36 countries and regions worldwide. ORIX Corporation is listed on the Tokyo (8591) and New York Stock Exchanges (IX). For more information on ORIX USA, visit www.orix.com.
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SOURCE Mariner Investment Group, LLC