What's New In Investments, Funds? - GoldenTree

Editorial Staff

8 February 2021

GoldenTree Asset Management
GoldenTree Asset Management, a global credit manager, last week said it had closed at $725 million in commitments on a second collateralized loan obligation strategy, called GLM II, as part of its GoldenTree Loan Management. GoldenTree previously raised $600 million in 2016 for the first vintage of the strategy.

Investors in the firm’s offerings include family offices, foundations, public pension funds, insurers and sovereign wealth funds.

More than 60 per cent of investors in GLM II are returning investors from the first vintage of the strategy, the firm said. GoldenTree's GLM program started in 2016.

The firm’s CLOs are intended to comply with European regulations, widening the range of investors who can tap into this area.

Since its approach started, GoldenTree said it has clocked up an average internal rate of return in the mid-teens in percentage terms, as at the end of 2020. The GLM program has also made distributions of more than 15 per cent per annum.

Since its inception in 2000, GoldenTree has issued nearly $20 billion of CLOs, with approximately $11 billion currently outstanding. The firm manages nearly $40 billion for institutional investors.