Aladdin Capital Management closed an institutional floating-rate fund this month. The firm has been ramping up the fund for months and is now busy transferring assets from warehouse facilities and moving it into the fund, said an investor. Gilles Marchand is the portfolio manager for the group which has over $2 billion in collateralized debt obligations. Aladdin officials declined comment.
Stamford. Conn.-based Aladdin has been busy raising assets over the past year. The firm is also close to pricing its fourth collateralized loan obligation Landmark IV, which is approximately $307 million. Bear Stearns is underwriting the debt. Last March, Aladdin began ramping up its third CLO, Landmark III and the firm launched its first loan hedge fund earlier this year (LMW, 2/6).