How a Midwestern insurer powered Wall Street's biggest new CLO manager

By Alexander Saeedy
28 May 2019

A wave of first time CLO managers have emerged since the market began its astonishing bull run in 2014. Standout among them has been CBAM, which has built an $11bn CLO platform in less than three years, in part thanks to a lucrative partnership with a storied Kansas life insurance company.

CBAM was the most prolific CLO issuer in 2017, pricing $5.1bn of paper in its first year of business.

While it did not keep up that pace in 2018, CBAM was the fourth largest CLO issuer for the whole of 2017-18, behind household names Blackstone, Credit Suisse Asset ...

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