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Private equity stalwart Lee, leveraged loan vet Gleysteen team for AGL, with eye on CLO mart

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Private equity stalwart Lee, leveraged loan vet Gleysteen team for AGL, with eye on CLO mart

AGL Credit Management is a private credit firm specializing in bank loans that has been launched by Peter Gleysteen, who will serve as both the Chief Executive Officer and Chief Investment Officer, as well as Thomas H. Lee, who will be a non-executive chairman.

AGL also intends to build out a CLO franchise, joining other firms that recently established a platform, including Elliott Management; HalseyPoint Asset Management; and LibreMax, through its acquisition of Trimaran Advisors.

The Abu Dhabi Investment Authority (ADIA), the sovereign wealth fund managing around $800 billion, and an unnamed U.S. state pension fund have committed $650 million in equity for AGL Credit, in addition to the family office of Thomas H. Lee, who has also made an investment.

Gleysteen had previously founded CIFC Asset Management, the now $13 billion credit manager where he was CEO from 2005 to 2014.

Lee is a Chairman at Lee Equity Partners and was previously the Chairman and CEO of Thomas H. Lee Partners, which was established in 1974 and has since invested over $10 billion across 100 different transactions. – Andrew Park

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