July 17, 2024

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AllianceBernstein Closes Inaugural Transaction for CLO Administration Business

NEW YORK, Dec. 14, 2020 /PRNewswire/ — AllianceBernstein L.P. (“AB”) (NYSE: AB), a primary international investment supervisor, nowadays introduced the closing of AB BSL CLO I, a $405.4 million collateralized financial loan obligation (CLO) with Morgan Stanley acting as lead arranger. This marks the inaugural CLO for the firm’s broadly syndicated mortgage and CLO management business enterprise proven in 2019 and led by Scott Macklin, and initially funded with investments from Equitable Economic Everyday living Insurance policy Business.

“We are delighted by the good reaction to the transaction from a extensive assortment of institutional buyers and the continued connection with Equitable. The quality of execution demonstrates self esteem in the firm’s extended-tenured leveraged finance system,” stated Gershon Distenfeld, Co-Head of Fixed Cash flow and Director of Credit history at AB.  “We search ahead to our ongoing advancement in this industry and delivering powerful results for our purchasers more than the coming yrs.”

The firm’s center sector immediate lending platform, AB Personal Credit score Buyers, has issued 9 CLO transactions since 2016 totaling $3.1 billion.

About AllianceBernstein

AllianceBernstein is a foremost world wide financial commitment administration firm that provides superior-quality analysis and diversified financial investment products and services to institutional traders, people today and non-public wealth consumers in main world marketplaces.

As of September 30, 2020, such as each the basic partnership and constrained partnership interests in AllianceBernstein, AllianceBernstein Holding owned close to 35.5% of AllianceBernstein and Equitable Holdings, Inc. (“EQH”), straight and as a result of different subsidiaries, owned an approximate 65.3% economic desire in AllianceBernstein.

More data about AB may perhaps be observed on our web page, www.alliancebernstein.com.

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http://www.acmbernstein.com