Aladdin Capital Management is prepping its fourth collateralized loan obligation. The firm has tapped Bear Stearns to underwrite the deal. Aladdin had reverse inquiry from an equity investor, which is going to be the anchor in the latest transaction, a market participant said. The deal is expected to close in September.
Last March, Aladdin began ramping up its third CLO, Landmark III, via Bear. Banc of America Securities and Mizuho Bank underwrote its second CLO, Landmark II, and B of A underwrote the debut CLO. Aladdin officials declined to comment. Gilles Marchand is the managing director and portfolio manager for bank loans.
Separately, Aladdin has hired Bill Lutkins as a director and senior analyst in its high-yield CLO group, replacing Neil Nag, who left the firm to pursue an MBA. Lutkins' primary responsibility is healthcare, but he will cover other industries as well. He most recently worked at Octagon Credit Investors and was previously with Credit Suisse First Boston.