Sculptor Capital Management Celebrates Major CLO Closure
Sculptor Capital Management, Inc. has recently announced a significant accomplishment with the closing of Sculptor European CLO XII (SCULE 12), amounting to €410.1 million. This latest addition expands Sculptor's impressive portfolio of collateralized loan obligations (CLOs) and collateralized bond obligations (CBOs), which now encompasses a total of approximately $13 billion worldwide in both European and American markets.
Highlights of SCULE 12 Closing
SCULE 12 is notable as it marks the firm’s second CLO transaction and the first new issuance of the year. The transaction was characterized by substantial investor interest, with commitments from various esteemed global institutions contributing to both its equity and debt segments. Adeel Shafiqullah, the Head of European CLO Management at Sculptor, expressed satisfaction with the successful closure, emphasizing gratitude towards both new and returning investors for their unwavering support.
Structured Features of SCULE 12
The arrangement of SCULE 12 was managed by BNP Paribas, ensuring a well-structured investment vehicle for its backers. The CLO features a two-year non-call period along with a five-year reinvestment period, strategically designed to provide flexibility for investors. Owing to its robust design, SCULE 12 is positioned effectively within the current market landscape.
Sculptor's Legacy in CLO Management
Sculptor has cultivated a commendable history in managing CLOs through various credit cycles, having successfully issued 45 CLOs and CBOs across the U.S. and Europe since 2012. This extensive experience is bolstered by a strong partnership within its global credit investing framework, allowing for a cohesive and comprehensive approach to asset management.
Current Management and Strategies
As of the latest reporting period, Sculptor manages around $24 billion in credit assets globally, utilizing diverse strategies that leverage their core competencies in corporate, asset-based, and real estate credit. This includes a commitment to adapting strategies to meet the evolving needs of investors.
About Sculptor Capital Management
Sculptor is recognized as a premier global alternative asset manager, specializing in opportunistic investments. With over three decades of experience, the firm has cultivated a culture that emphasizes swift action on market opportunities balanced with rigorous diligence to mitigate risks. Their team is largely comprised of long-term professionals incentivized to prioritize client outcomes.
Frequently Asked Questions
What is Sculptor European CLO XII?
Sculptor European CLO XII (SCULE 12) is a collateralized loan obligation totaling €410.1 million, recently closed by Sculptor Capital Management.
Who managed the arrangement of SCULE 12?
The arrangement for SCULE 12 was managed by BNP Paribas, ensuring strong structural integrity for the investment.
How many CLOs has Sculptor issued in total?
Since 2012, Sculptor has successfully issued 45 CLOs and CBOs globally, showcasing their expertise in this area.
What is the significance of the non-call period?
The non-call period allows a specified time in which the issuer cannot redeem the CLO, providing stability for investors during the initial phase of investment.
How does Sculptor prioritize client outcomes?
Sculptor has built a team that prioritizes long-term relationships and client outcomes, driven by a culture of accountability and performance incentives.
