Prudential Fixed Income to manage new USD621m CLO
Prudential Fixed Income has been appointed as the collateral manager for the Dryden 31 Senior Loan Fund, a recently closed USD621m collateralised loan obligation.
Prudential Fixed Income is the principal public fixed income asset management business of Prudential Financial.
"With Dryden 31, we have reached a milestone. The transaction is the 10th CLO to be issued globally under the Dryden brand since the re-emergence of the CLO market," says Peter Cordrey, managing director and head of product management and distribution for Prudential Fixed Income. "We are thankful for the long standing confidence that investors have shown in our credit capabilities and CLO management."
The Dryden 31 Senior Loan Fund is the 48th cash or synthetic CLO/CDO structure to be managed or sub-advised by either or both of the Prudential Fixed Income teams in its Newark and London offices. The company now manages more than USD10bn in CLO capital.
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