Loomis, Sayles & Co. is preparing its first collateralized loan obligation, a $400 million portfolio led by Goldman Sachs. Loomis Sayles CLO 1 is said to be a diversified portfolio of loans, including a bucket for second liens of approximately 5%. The firm is currently marketing the CLO and it is expected to price by the end of October. A Loomis Sayles representative declined comment and a spokeswoman did not return a call.
The Boston-based firm has been working in the loan space for about two-and-a-half years and interest both internally and from investors prompted the launch of its first CLO. It has not decided whether it will do a second CLO or continue to look at other opportunities in the loan market. The portfolio management team could not be determined.
As of June 30, Loomis Sayles had more than $82.4 billion in equity and fixed-income assets under management. It is a subsidiary of IXIS Asset Management U.S. Group, which is owned by IXIS Asset Management, a Parisian investment management firm with over $500 billion in assets under management.
