The purchase price was not disclosed.
The acquisitions come as investors are looking for a revival in structured bond products that contributed to the global financial crisis. Some credit investors say a revival in those complex bond markets is needed before more liquidity and a strong recovery can take root.
CDOs backed by subprime and residential mortgage-backed securities may never come back, many analysts say, but some investors are looking for opportunities, particularly in CLOs backed by loans and higher quality bonds.
CLOs, opaque and complex investment vehicles, give investors access to leveraged loans in the form of a security. They were a popular tool for lenders to offload risk to the capital markets and a driver of the buyout boom up until mid-2007. —Walden Siew, Reuters
UK firm locks up eighth fund
The firm began fund-raising in the fourth quarter of 2008, and it held a first close in April 2009 with about $440 million in commitments.
The firm raised $580 million for its seventh fund, which closed in 2004.