MISSION WOODS, Kan., May 28, 2015 /PRNewswire/ -- Palmer Square Capital Management, an investment management firm that provides structured credit, corporate credit and hedge fund strategies such as long/short credit to a wide range of investors, today announced that it has closed on its fourth Collateralized Loan Obligation ("CLO").
Palmer Square CLO 2015-1, Ltd., which closed May 21, 2015, is a $435.8 million issuance. JPMorgan Securities acted as lead arranger on the transaction. Similar to three recent Palmer Square transactions, this CLO is designed to invest primarily in institutional senior secured bank loans.
"In the current low interest rate environment, many investors are looking for new ways to increase yield and we are thrilled to provide them with another credit solution through our fourth CLO vehicle," said Christopher D. Long, president of Palmer Square Capital Management. "We believe this offering is a testament to the strength of our corporate and structured credit team, diversified platform, and focus on enhancing our CLO platform and delivering strong investment solutions to clients. We will continue to execute on investment opportunities across all facets of our platform - most notably, long/short credit and non-traditional credit."
About Palmer Square Capital Management
Palmer Square Capital Management provides investment advisory services and manages portfolios of corporate and structured credit, high yield municipal credit and various hedge fund strategies for a diverse set of clients across institutional investors, registered investment advisory firms, broker-dealers and high net worth individuals. As of April 30th, 2015, Palmer Square managed in excess of $3.6 billion in assets.
About Montage Investments
Through a family of independent asset managers, unified by deep market insight and fundamental research, Montage Investments offers alternative investment solutions across the spectrum of asset classes and strategies that include mutual funds, closed-end funds and separate accounts. Collectively, Montage Investments managed nearly $28 billion as of April 30th, 2015.
The securities issued under the CLO transactions have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
SOURCE Palmer Square Capital Management