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Sound Harbor Partners Closes $457 Million CLO Fund

November 03, 2014, 07:37 AM
Filed Under: Industry News

Sound Harbor Partners announced the closing of Sound Harbor Loan Fund 2014-1, a Collateralized Loan Obligation ("CLO") fund totaling $457 million. The fund invests primarily in USD-denominated senior secured corporate loans.

The transaction is Sound Harbor's first since reaching a joint arrangement with Macquarie Credit Investment Management Inc. to launch a series of CLO funds. JPMorgan acted as sole lead arranger for the transaction. Including this fund, Sound Harbor manages the SHP Capital Solutions Fund and four CLOs totaling $1.4 billion.

Sound Harbor is led by Michael Zupon and Dean Criares. Zupon is a former partner at The Carlyle Group where he founded and led the leveraged finance business. Criares is a former partner of The Blackstone Group where he founded and led the loan management business. 

"Achieving a successful initial close under our strategic relationship with Macquarie marks a major milestone," said Criares. "Our collective intent is to carefully build on this success by delivering attractive returns to all investors. The relationship with Macquarie allows us to consider opportunistic growth plans across various economic cycles and uncertain regulatory environments."

Sound Harbor is an alternative investment firm that provides private credit to U.S. companies. Sound Harbor has $1.4 billion of assets under management in the SHP Capital Solutions Fund and the SHP Loan Funds. Sound Harbor invests in secured loans, senior debt, subordinated debt and equity securities.

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