AB - AllianceBernstein Closes Third Transaction for CLO Management Business

PR Newswire

NASHVILLE, Tenn. , Oct. 12, 2021 /PRNewswire/ -- AllianceBernstein L.P. ("AB") (NYSE: AB), a leading global investment manager, today announced the closing of AB BSL CLO 3, a $500 million collateralized loan obligation (CLO) with Citigroup acting as lead arranger.

This marks the third CLO for the firm's broadly syndicated loan and CLO management business established in 2019 and led by AB's Director of Leveraged Loans Scott Macklin . The business is initially funded with investments from Equitable Financial Life Insurance Company.

"AB's CLO management platform continues to grow thanks to our strong partnership with Equitable and our ability to develop and deepen investor relationships," said AB's Co-Head of Fixed Income and Director of Credit Gershon Distenfeld . "As we continue to strengthen and enhance our CLO business, we look forward to working with our capital partners."

The firm's middle market direct lending platform, AB Private Credit Investors, has issued 12 CLO transactions since 2016 totaling $4.3 billion .

About AllianceBernstein

AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets.

As of June 30, 2021 , including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 36.3% of AllianceBernstein and Equitable Holdings, Inc. ("EQH"), directly and through various subsidiaries, owned an approximate 64.4% economic interest in AllianceBernstein.

Additional information about AB may be found on our website, www.alliancebernstein.com .

SOURCE AllianceBernstein