Prudential Fixed Income To Manage New $415 Million CLO

Prudential Fixed Income has been appointed collateral manager of the Dryden XXVIII Senior Loan Fund, a $415.8 million collateralized loan obligation, the company said today. Prudential Fixed Income is the principal public fixed income asset management business of Prudential Financial, Inc. (NYSE: PRU).

"We are very pleased to complete our latest transaction and we appreciate the continued support and trust of investors in our management of the Dryden CLOs,” said Bent Hoyer, vice president and co-head of the U.S. CLO business for Prudential Fixed Income.

The Dryden XXVIII Senior Loan Fund, which closed July 3, is the seventh CLO to be issued globally under the Dryden brand in the last 19 months and the 45th 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 Fixed Income as one of the largest global CLO managers. The firm now manages over $9 billion in CLO capital.

Prudential Fixed Income, with $400 billion in assets under management as of March 31, 2013, 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 $1.06 trillion of assets under management as of March 31, 2013, 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, 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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