Greenwich-based Marble Point Credit Management has closed the acquisition of American Capital CLO Management (ACCLOM), formerly an affiliate of American Capital.
As of December 2016, investment manager ACCLOM managed nearly $3.4bn in collateralised loan obligation (CLO) vehicles.
Under the arrangement, Marble Point and affiliates bought majority equity positions in seven of the CLOs.
ACCLOM and the CLOs will now be renamed as part of the Marble Point platform.
Marble Point said that the deal would ramp up its business plans and help it diversify and expand its investor base.
Marble Point CEO Thomas Shandell said: “The acquisition of the ACCLOM platform represents a significant milestone in Marble Point’s development. We believe investors globally will seek to increase their exposure to the type of floating rate, senior secured loans in which we invest.”