has acquired CLO manager
Financial advisor to AIG
AIG (NYSE: AIG), has agreed to acquire CLO issuer and manager Covenant Credit Partners ("CCP") from CCP management and a sponsoring family office
AIG is a leading global insurance and retirement product provider with nearly $500 billion in total balance sheet assets as of March 31, 2018 and operations in over 100 countries and jurisdictions.
CCP manages approximately $900 million of broadly-syndicated leveraged loan collateral across two active CLOs.
CCP was founded in 2013 by CEO Marc Boatwright. Prior to founding CCP, Marc helped lead CLO investing for ING Investment Management’s Senior Loan Group and was a lead PM for 13 CLOs.