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TheStreet Open House

Prudential Fixed Income To Manage New $420 Million CLO

Stocks in this article: PRU

Prudential Fixed Income has been appointed the collateral manager for the recently closed $420 million Dryden XXVI Senior Loan Fund, the company announced today. Prudential Fixed Income is the principal public fixed income asset management business of Prudential Financial, Inc. (NYSE: PRU).

"We appreciate the support of investors and their trust in our credit and CLO management capabilities," said Joe Lemanowicz, principal and head of Prudential Fixed Income’s U.S. bank loan team.

The Dryden XXVI Senior Loan Fund, which closed March 19, is the fifth CLO to be issued under the Dryden brand in the last 15 months and the 43rd cash or synthetic CLO/CDO structure to be managed or sub-advised by Prudential Fixed Income from its Newark and London offices. Standard & Poor's ranks Prudential as one of the largest global CLO managers. The firm now manages over $9 billion in CLO capital.

Prudential Fixed Income, with $395 billion in assets under management as of December 31, 2012, offers institutional investors needs-based solutions across all fixed income markets, with a focus on credit strategies and liability-driven investing. Prudential Fixed Income has portfolio management and research teams in Newark, N.J.; London and Singapore. For more information, please visit www.prudentialfixedincome.com/.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $1.060 trillion of assets under management as of December 31, 2012, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.

Copyright Business Wire 2010

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