LOS ANGELES, CA -- (Marketwire) -- 03/22/13 -- The TCW Group (TCW), a global asset management company, today announced that it has closed a $400 million Collateralized Loan Obligation (CLO) fund, Figueroa CLO 2013-1, Ltd., which is secured primarily by broadly syndicated first lien loans.
The transaction marks TCW's return to the CLO market and will be co-managed by Jerry Cudzil, TCW's Head of U.S. Credit Trading and Jamie Farnham, TCW's Director of Credit Research.
"We were pleased to see strong investor interest in this offering, which is a logical extension of TCW's strong capabilities in credit research and selection. We consider this a significant step towards building out a robust multi-product loan platform and adding to our $6 billion leveraged finance franchise," said TCW President and CEO David Lippman.
Natixis Securities Americas LLC served as placement agent and structuring agent on this CLO. Natixis is the corporate, investment and financial services arm of Groupe BPCE, France's second-largest banking group.
"TCW's credit selection expertise, which is supported by our extensive corporate research and trading capabilities, gives us a strong foundation as we re-enter this market," said Jamie Farnham.
Said co-manager Jerry Cudzil, "This is a natural step for TCW, and builds on our solid track record of investing in leveraged loans and high yield bonds."
Kevin Alexander, Global Head of Structured Credit & Solutions for Natixis, said, "Natixis was delighted to arrange, structure and place TCW's Figueroa CLO and continues to see significant synergy partnering with a top-tier asset manager."
Founded in 1971, The TCW Group, Inc., develops and manages a broad range of innovative, value-added investment products that strive to enhance and protect clients' wealth. The firm had approximately $138 billion in assets under management as of Dec. 31, 2012. TCW clients include many of the largest corporate and public pension plans, financial institutions, endowments and foundations in the U.S., as well as a substantial number of foreign investors and high net worth individuals. For more information, please refer to www.tcw.com.
TCW Media Contact:
Managing Director, Corporate Communications
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