MJX Asset Management, the new asset management firm run by Hans Christensen and owned by Robert Sillerman, is out of the blocks fast with the pricing of its first CLO. Credit Suisse First Boston priced the notes backing the $375 million Venture CLO 2003-III, with the triple-A spread at LIBOR plus 50 basis points, according to a source. MJX is in the process of buying the Venture CDO 2002 and Venture II CDO 2002 loan funds of Barclays Bank, where Christensen and other members of MJX ran the leveraged loan asset management group. Barclays is reported to be an investor in the latest deal.
Christensen, lead portfolio manager and one of the founders of MJX, and bankers within CSFB's CDO group, did not return calls by press time. MJX is owned by Sillerman and members of the existing Venture management team, including Christensen and Martin Davey. Ex-Eaton Vance Corp. head par loan trader and portfolio manager Gretchen Bergstresser is a managing director at MJX (LMW, 10/1).