INVESCO and Blackstone Debt Advisors are both raising debt for new collateralized loan obligations. A loan manager said the INVESCO vehicle is called Sagamore CLO and is being underwritten by J.P. Morgan. INVESCO, which has over $5 billion in loan assets under management, last completed a CLO in the fall with Saratoga CLO 1 (LMW, 9/1). The loan team is led by Anthony Clemente, managing director and head of the high-yield investments group, who declined comment. Pricing on the notes and the amount of collateral required could not be ascertained. Officials within J.P. Morgan's CDO group did not return calls.
The Blackstone Group's CLO arm, meanwhile, is in the market with a deal called Union Square, according to an analyst. This will be the second CLO completed since Dean Criares, managing director and portfolio manager, joined from Trimaran Advisors in January 2002. CIBC World Markets and co-arranger J.P. Morgan underwrote the debut $600 million Hanover Square CLO. It could not be determined which bank would be leading the transaction this time around. The Blackstone deals are named after New York City parks. Criares did not return calls for comment.