AGL Credit Management Closes Inaugural Stable Return Strategy Offering Totaling $450 Million
Firm’s assets under management exceeds $1.3 billion since launch in March 2019
NEW YORK, Jan. 2, 2020 /PRNewswire/ — AGL Credit Management LP (“AGL”), a private credit investment firm specializing in innovative product solutions based on bank loans, today announced the closing of AGL Core CLO 2 Ltd. (“the Fund”), a lightly levered strategy based on bank loans and providing global institutional investors with target high single digit returns. The Fund totals $449.66 million and is intended to comply with European risk retention regulations.
AGL Core CLO 2 continues the same strategy of prior products and invests in senior secured floating rate Broadly Syndicated Loans (“BSL”) across a wide variety of industries.
“This offering is a significant milestone for AGL as we continue to scale our platform of BSL-based solutions and expand our highly innovative, lightly-levered stable return strategy,” said Peter Gleysteen, Chief Executive Officer and Chief Investment Officer of AGL. “We have now increased our assets under management to $1.3 billion since launching the firm in March. This momentum is the result of a strong team of investment, credit, and structured credit professionals that we have assembled plus the strong market reception from large, sophisticated and global institutional investors.”
Wynne Comer, Chief Operating Officer of AGL, added, “We believe that AGL Core CLO 2 truly differentiates us from other credit managers and provides a unique approach for our institutional clients who are seeking safe, stable and scalable income solutions. We thank our investor partners who participated in the transaction and appreciate the support of BNP Paribas in structuring and marketing the offering.”
About AGL Credit Management LP
AGL Credit Management LP (“AGL”) is a private credit investment firm and registered investment adviser specializing in innovative product solutions designed to deliver secure, stable and scalable returns based on bank loans. AGL was founded by Peter Gleysteen, a widely known innovator in the bank loan market, Thomas. H. Lee, one of the early pioneers in private equity investing and a wholly owned subsidiary of the Abu Dhabi Investment Authority. For more information, visit www.aglcredit.com.
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