NewStar Financial snaps up Fifth Street CLO biz

NewStar Financial has added around $726m of assets under management after buying Fifth Street Asset Management’s middle market CLO business, which had two outstanding deals.

  • By David Bell
  • 07 Jul 2017

Fifth Street Asset Management (FSAM) started its middle market CLO business in 2015 and had two outstanding deals, but decided to exit the business due to difficulties scaling the business, according to the company’s chief executive and another source familiar with the transaction.

"Over the course of FSAM's ...

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