Andrew Hedlund
Some specialised healthcare clinics can provide private credit investors with better cashflow than hospitals.
The transaction comes as MetLife looks to expand its asset management business.
.jpg?id=19327353310 "HOOPP pledges to invest $300m in new CIFC CLOs")
The two parties formed a partnership to give HOOPP better access to the CLO market.
The mezzanine debt fund won a $30m commitment from a South Korean pension earlier this month.
The move comes as new CLO issuance so far this year has already equaled 2016’s total.
The investment shop has closed seven of the vehicles to date, with its CLO assets under management approaching $1bn.
The alternative asset management behemoth has added several other senior people to its credit team within the past year.
The Teachers’ Retirement System of Illinois committed $125m to the vehicle.
The firm, launched in February 2016 by three private credit luminaries, has raised more than some established credit firms’ assets under management.
The deal comes as Oaktree is also raising a senior debt fund.