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LibreMax Capital to acquire Trimaran Advisors and $3B of CLOs

Market pros see leveraged loan default rate holding at low levels

S&P: BBB downgrade risks in Europe look manageable

As specter of rate cuts grows, investors retreat from leveraged loan asset class

Retail investors flock to US high yield bond funds with $1.8B inflow


LibreMax Capital to acquire Trimaran Advisors and $3B of CLOs

LibreMax Capital LLC has announced that it has entered into an agreement to acquire Trimaran Advisors from KCAP Financial.

Trimaran currently manages six CLOs totaling about $3 billion in assets.

Following the transaction, Dominick Mazzitelli, Chief Investment Officer and head of the firm’s CLO platform, will continue to lead that business alongside the existing management team.

LibreMax Capital is a New York–based asset manager with around $2.9 billion that specializes in structured credit. LibreMax’s CIO is Greg Lippmann, who was previously the global head of Asset Backed Securities Trading at Deutsche Bank.

Closing is expected around year-end with Schulte Roth & Zabel LLP serving as legal counsel for LibreMax. — Andrew Park

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