Marble Point Credit Management LLC of Greenwich has completed the acquisition of American Capital CLO Management LLC, an investment manager, which as of December 2016 had approximately $3.4 billion in assets under management across eight collateralized loan obligation vehicles.
As part of the transaction, Marble Point and affiliates acquired majority equity positions in seven of the collateralized loan obligations. Shortly after the closing, American Capital CLO Management – headquartered in Bethesda, Maryland – and the CLOs are expected to be rebranded as part of the Marble Point platform.
“The acquisition of the ACCLOM platform represents a significant milestone in Marble Point’s development,” said Thomas Shandell, CEO 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.”
American Capital CLO Management was previously a wholly owned indirect affiliate of American Capital Ltd.
Marble Point was founded by Shandell in partnership with Eagle Point Credit Management LLC. Sumitomo Mitsui Trust Bank Ltd, a Japanese trust bank, and GreensLedge Holdings are strategic investors in Marble Point.