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United States : Prudential Fixed Income to manage new $811.75 million CLO

May 10, 2014



Prudential Fixed Income has been appointed as the collateral manager for the Dryden 33 Senior Loan Fund, a recently closed $811.75 million collateralized loan obligation. Prudential Fixed Income, among the largest fixed income managers in the U.S., is the principal public fixed income asset management business of Prudential Financial, Inc..

"Dryden 33 is the 11th post-crisis CLO to be closed under the Dryden brand. It is also the largest transaction in the 13 year history of our CLO platform," said Joe Lemanowicz, managing director and head of the U.S. Bank Loan Sector Team for Prudential Fixed Income. "We are grateful for the trust that investors have in our credit and CLO management capabilities."

The Dryden 33 Senior Loan Fund, which closed Wednesday, May 7, is the 49th cash or synthetic CLO/CDO structure to be managed or sub-advised by either or both of Prudential Fixed Income s teams in Newark and London. Standard & Poor's ranks Prudential Fixed Income, which now manages more than $10 billion in CLO capital, among the largest global CLO managers.

Prudential Fixed Income, with $418 billion in assets under management as of March 31, 2014, offers institutional investors needs-based solutions across all fixed income markets, with a focus on credit strategies and liability-driven investing. Prudential Fixed Income has portfolio management and research teams in Newark, N.J.; London and Singapore.


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Source: TendersInfo (India)


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