Alternative asset manager Mariner Investment Group has closed a USD503 million collateralised loan obligation (CLO), the third such transaction by Mariner's leveraged credit team.
Mariner has now closed approximately USD1.5 billion in CLOs in the past two years.
"We are pleased at the continued success our team has achieved with its first three CLO's, and with our ability to capitalise on the current market environment," says David Martin, co-head of Mariner's leveraged credit team. "Our success reflects the strength and talent of our growing team, as well as ORIX's continued support of the Mariner platform."
Mariner's leveraged credit team transitioned from ORIX USA, Mariner's parent company, in 2014. The 15-member team is co-led by Martin and Erik Gunnerson (pictured), who together bring over 30 years of combined investment expertise. Martin and Gunnerson have managed the team for nearly seven years including while at ORIX USA and since the group moved to Mariner.
"We are excited by the ability of our leveraged credit team to develop offerings that consistently attract strong investor interest," says Bill Michaelcheck, Mariner's chief investment officer. "Furthermore, our team's success in closing a third transaction in a relatively short period testifies to the strength of our partnership with ORIX. I am particularly pleased at the continued progress of Mariner and ORIX USA to deepen our collaboration and create new opportunities for clients to co-invest alongside ORIX USA capital."