GoldenTree Asset Management raises $603 million

The global asset management firm closes fifth US-focused CLO.

GoldenTree Asset Management has held a final close of its $603 million fifth US CLO, GoldenTree Loan Management US CLO 5. The CLO is initially backed by a 98 percent ramped $588 million portfolio of senior secured loans.

GLM US CLO 5 was arranged by a bank syndicate consisting of Wells Fargo as structural lead, and the Bank of Merrill Lynch and Morgan Stanley as co-leads.

The previous CLO in the series, GoldenTree Loan Management US CLO 4, closed at $808 million in March 2019.