BOSTON, May 2, 2014 (GLOBE NEWSWIRE) -- THL Credit Advisors LLC (together with its affiliates, "THL Credit") today announced that it has closed on a $620 million collateralized loan obligation ("CLO"), its largest CLO to date, led by Deutsche Bank Securities Inc. THL Credit has now closed on over $2.0 billion of CLOs since December 2012.
"We are delighted with the continued growth and performance of our business driven by the depth and experience of our team across our credit platform," said James K. Hunt, chief executive officer and chief investment officer of THL Credit. "Our senior loan strategies group is led by Brian Good and Jim Fellows with a highly experienced and regarded team in traded credit, which has worked together for more than 20 years in high yield credit, and brings a proven track record to the business."
"We are pleased to have worked once again with Deutsche Bank and are excited to have received sufficient investor demand to upsize the transaction to $620 million from the original $400 million planned launch," said Michael A. Herzig, Managing Director of THL Credit. "Deutsche Bank has been an exceptional partner over the years, including in its work with us on three recent CLOs, and we look forward to working with them again in the future."About THL Credit THL Credit is an investment manager for both direct lending and traded credit through public and private vehicles, collateralized loan obligations, separately managed accounts and co-mingled funds. THL Credit maintains a variety of advisory or sub-advisory relationships across its investment platform, including THL Credit, Inc. (Nasdaq:TCRD), a publicly traded business development company, and THL Credit Senior Loan Fund (NYSE:TSLF), a non-diversified, closed-end management investment company. Headquartered in Boston, THL Credit also has investment teams in Chicago, Houston, Los Angeles and New York.
CONTACT: Investor Contact: THL Credit Advisors LLC Terrence W. Olson COO & CFO 800-450-4424 Media Contact: Sard Verbinnen & Co Matt Benson 212-687-8080