New LA-based asset manager acquires CLO contract
Ducenta Squared Asset Management recently obtained the management contract for a CLO managed by Tortoise Credit Strategies, a firm that Ducenta acquired in April, according to a source familiar with the purchase.
Ducenta was founded in April in Los Angeles. In the same month it announced the acquisition of Tortoise Credit Strategies, a fixed income asset manager with approximately $3bn of assets under management.
However, the firm only recently secured the management rights to a 2014 CLO previously managed by Tortoise.Ducenta ...