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AIG buys Covenant Credit Partners

American International Group Inc. has acquired collateralized loan obligation issuer and manager Covenant Credit Partners LP, according to Freeman & Co., which advised AIG on the transaction.

Covenant manages approximately $900 million of broadly syndicated leveraged loan collateral across two active CLOs. The entire Covenant team, including managing partner Marc Boatwright, will join AIG, Debtwire reported, citing sources.

AIG did not immediately respond to a request for comments on the closing date.