Morgan Stanley has arranged a $750 million collateralized loan obligation for Citadel called Watchtower CLO I. At least 80% of the portfolio will consist of senior secured loans. This is Citadel's first CLO, but the firm has $11.2 billion in assets under management, according to Standard & Poor's. Additionally, Citadel's bank loan portfolio, as measured by book value, has increased to approximately $1.7 billion in 2004 from $350 million in 2001.
Morgan Stanley Arranges Citadel CLO