GoldenTree Asset Management has raised $1.3 billion in commitments on its third CLO strategy (GLM III).
GLM III is a continuation of the GoldenTree Loan Management (GLM) program that began in 2016, bringing aggregate commitments across the entire GLM program (i.e., GLM I, II and III) to more than $2.625 billion.
GLM III secured commitments of $1.3 billion, which surpassed its target of $1 billion and reached the Fund’s effective hard cap, from a global investor base that includes public and corporate pensions, sovereign funds, foundations, insurance companies, family offices and RIAs across the United States, Europe, Asia and the Middle East.
“The GLM program has enabled a broader universe of investors to access the attractive yield and total return profile of GoldenTree’s CLO equity,” said Kathy Sutherland, GoldenTree’s CEO. “Demand for our CLO equity has increased as investors recognize the value it can create within their portfolio,” she continu