Hartford Investment Management Company is launching its first retail loan fund. The Hartford Floating Rate Fund will be managed by Michael Bacevich and John Connor. They joined Hartford last March from Cigna Investment Management and at the time, Andrew Kohnke, a managing director at Hartford, said the Conn.-based insurance and investment giant would be looking to expand through CDOs and potentially mutual funds (LMW, 3/26). A Hartford spokeswoman declined comment.
The team already manages two CDOs that were transferred from Cigna. The Times Square SERVES 2001-1 deal and the Trumbull Rated Loan Fund 2003-1, totaling approximately $700 million. Last August the firm also completed a $362.5 million market-value fund called Bushnell Loan Fund CDO 2004.