Securitization hedge fund LibreMax buys CLO manager

By Max Adams
12 Nov 2018

LibreMax, the securitization-focused hedge fund started by famed crisis-era ABS trader Greg Lippmann, is betting on the continued bull run of the CLO market with the acquisition of Trimaran Advisors.

Trimaran is the broadly syndicated CLO management unit of KCAP Financial, a publicly traded middle market business development company. The platform, headed by Dominick Mazzitelli, manages six CLOs worth approximately $3bn.

According to an announcement from KCAP, LibreMax will pay $37.9m in cash for the acquisition. The ...

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