Marble Point Credit Management has acquired American Capital CLO Management (ACCLOM), an investment manager with approximately USD3.4 billion in assets under management across eight collateralised loan obligation (CLO) vehicles as of December 2016.
The acquisition is expected to provide meaningful benefits to Marble Point and accelerates its business plans and objectives. The transaction will also diversify and significantly expand Marble Point’s investor base.
“The acquisition of the ACCLOM platform represents a significant milestone in Marble Point’s development,” says Thomas Shandell (pictured), chief executive officer 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.”
As part of the transaction, Marble Point and affiliates acquired majority equity positions in seven of the CLOs. Shortly after the closing, ACCLOM and the CLOs are expected to be rebranded as part of the Marble Point platform.
ACCLOM was previously a wholly-owned indirect affiliate of American Capital (ACAS).
Dechert served as legal counsel to Marble Point and Winston & Strawn served as legal counsel to American Capital.