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Jefferies Group, Hildene Capital to Invest in Equity of CLOs Managed by Carlson Capital

December 11, 2020, 08:15 AM
Filed Under: Industry News

Carlson Capital, L.P., an alternative asset management firm, announced that it reached a strategic agreement with Jefferies Group LLC and structured credit investor Hildene Capital Management, LLC to support the new issuance of CLOs on Carlson’s Cathedral Lake platform.

Under the terms of the agreement, Jefferies and Hildene will provide CLO equity capital to support the new issuance of four Carlson CLOs within the next three years. As strategic investors, Jefferies and Hildene will share in the growth of the Cathedral Lake CLO platform.

Stanton Ray, a Partner and Head of Corporate Credit for Carlson, said, “We have always valued our relationship with Jefferies and Hildene, and we are excited to collaborate with them more closely to further expand Carlson’s CLO platform. We believe that this strategic investment will act as a growth accelerant, providing certainty of execution and enabling us to continue to scale our CLO issuance to meet the needs of a broader base of investors.”

Jason Schechter, Global Head of CLO Origination at Jefferies, said, “When making equity investments in CLOs we always look for very strong credit managers. Stanton and his team are one of the best credit teams in the market and we believe this investment, alongside Hildene, will support the ongoing growth of Carlson’s CLO business in the coming years.”

Dushyant Mehra, Co-Chief Investment Officer at Hildene, added, “Given our deep expertise transacting in the CLO space, we recognize that while alternative income platforms are in high demand, skilled managers can be scarce. We are pleased to be working with Carlson’s best-in-class credit team to help scale their CLO business, while offering our investors access to unique, high-quality investment risk with attractive upside.”

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