WhiteStar acquires 5 CLOs boosting its CLO Belongings Beneath Management to in excess of $12 billion
DALLAS, April 01, 2022–(Enterprise WIRE)–WhiteStar Asset Administration, L.P. (“WhiteStar”), the CLO, structured products, and broadly syndicated credit score arm of Clearlake Money Group, L.P. (together with its affiliate marketers, “Clearlake”), right now declared that it has acquired the five reinvesting Collateralized Loan Obligations (“CLOs”) managed by Carlson CLO Advisers, LLC, a wholly-owned subsidiary of Carlson Funds, L.P. (“Carlson Capital”). Totaling much more than $2 billion and branded less than the Cathedral Lake shelf, WhiteStar will think collateral management duties of the Cathedral Lake CLOs effective March 31, 2022. This marks the second acquisition of CLO contracts by WhiteStar in significantly less than 4 months.
“Our staff took time to recognize the suitable leadership crew to receive the management legal rights to Carlson’s CLOs and we imagine that WhiteStar is the excellent spouse, presented their platform’s scale and momentum,” claimed Clint Carlson, Founder and Main Financial commitment Officer of Carlson Capital. “We are self-assured WhiteStar will keep on to deliver strong effectiveness and consumer provider to people who invested in Cathedral Lake CLOs.”
“This acquisition carries on the expansion of WhiteStar, and it is been a enjoyment collaborating with the Carlson Money group during this changeover,” stated Gibran Mahmud, CEO of WhiteStar. “With this acquisition on the heels of our acquisitions completed in 2021, we go on to deliver on our strategic prepare to grow the credit rating small business and enter new marketplaces. We are honored to choose the reins from Carlson Funds, steward the present investors’ funds and are grateful to Carlson for their work to date.”
As a end result of this acquisition, WhiteStar manages around $12 billion in CLO assets beneath administration as a result of 27 CLO cars, hedge cash, and independent account offerings.
Milbank LLP represented WhiteStar in the changeover. Mayer Brown LLP represented Carlson.
WhiteStar Asset Administration is the CLO, structured solutions, and broadly syndicated credit score arm of Clearlake Funds Team, L.P. Managing close to $70 billion in put together AUM, the firm is targeted on non-public equity, particular conditions and credit. WhiteStar is comprised of a secure and seasoned, cohesive crew, characterised by a breadth of analytical assets and proprietary industry intelligence. WhiteStar has a conservative credit lifestyle targeted on elementary credit rating get the job done and primarily invests in broadly syndicated senior secured financial loans and CLO tranches. WhiteStar has around $12 billion of fee building property and is the team and solutions provider for Trinitas Capital Administration. www.whitestaram.com
Clearlake Money Team, L.P. is an investment decision business founded in 2006 functioning integrated firms throughout non-public fairness, credit rating and other connected procedures. With a sector-centered method, the business seeks to partner with administration groups by providing patient, extended-expression funds to enterprises that can advantage from Clearlake’s operational advancement tactic, O.P.S.® The firm’s main target sectors are technologies, industrials, and purchaser. Clearlake at the moment has around $70 billion of assets below administration, and its senior expenditure principals have led or co-led above 300 investments. The firm is headquartered in Santa Monica, CA with affiliate marketers in Dallas, Texas and London, United kingdom. Additional information is accessible at www.clearlake.com and on Twitter @Clearlake.
About Carlson Funds
Started in 1993, Carlson Cash, L.P. is an substitute financial investment supervisor specializing in absolute return procedures which provide low beta and correlation relative to the broad marketplace indices. Based mostly in Dallas, Texas, Carlson has places of work in New York, London, and Houston.
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Lambert & Co.
For Carlson Funds
Jonathan Gasthalter/Sam Fisher
Gasthalter & Co.