Sankaty Advisors, the fixed income outfit affiliated with Bain Capital, has tapped Deutsche Bank to be the underwriter for its latest collateralized loan obligation, Race Point II. The high-yield loan CLO is said to be in the region of $400 million, according to sources. Sankaty already has over $6 billion in assets under management and completed a $500 million CLO called Castle Hill Ingots last year (LMW, 9/15). Managing directors Jonathan Lavine, Diane Exter, who focuses on loans, and Kristin Mugford lead the portfolio management team. A Standard & Poor's report on the firm produced in conjunction with the rating of Race Point CLO states the team's track record compares favorably with its peers of the same vintage, with Sankaty generally holding a lower percentage of "CCC" rated securities and defaulted securities. Calls to Lavine were referred to a spokeswoman who could not provide comment by press time.
Sankaty Taps Deutsche Bank For Race Point II