APO - Redding Ridge Acquires $2.8 Billion of CLO Management Contracts from Gulf Stream Asset Management | Benzinga
NEW YORK, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Redding Ridge Asset Management ("Redding Ridge") today announced that it has acquired CLO management contracts totalling $2.8 billion in assets under management ("AUM") from Gulf Stream Asset Management ("Gulf Stream"). With the close of the transaction, Redding Ridge will have more than $26 billion of AUM and expects a seamless integration of the contracts and to actively manage the new portfolios consistent with its disciplined CLO strategy.
Bret Leas, Redding Ridge Managing Director, said, "This transaction further solidifies the scale of Redding Ridge's CLO management platform, and in credits that are well covered by our analysts. We believe Redding is positioned for continued growth and success, particularly in an environment that benefits those managers with patient, long-term capital."
Redding Ridge is an independently managed affiliate of Apollo (NYSE: