Seix Investment Advisors Completes Offering of $406.4 Million CLO Mountain View CLO 2017-2 increases CLO assets to more than $3 billion
PR Newswire 12-Jan-2018 12:54 PM
PARK RIDGE, N.J., Jan. 12, 2018 /PRNewswire/ --Seix Investment Advisors, an affiliate of Virtus Investment Partners, Inc. (NASDAQ: VRTS) managing $24.9 billion of fixed-income assets as of December 31, 2017, has announced the closing of Mountain View CLO 2017-2, a $406.4 million collateralized loan obligation (CLO).
Mountain View CLO 2017-2 is a managed cash flow CLO whose issued notes are collateralized primarily by broadly syndicated leveraged loans. The CLO has a two-year non-call provision and a five-year reinvestment period with a final maturity of 13 years.
George K. Goudelias, managing director, head of leveraged finance at Seix and portfolio manager of the CLOs, said the successful offering of Mountain View 2017-2 benefits from the expertise of the portfolio team, the company's strong leveraged finance capabilities and the infrastructure of its substantial CLO platform.
"We have a highly skilled leveraged loan investment team that has deep knowledge of the industry and is fully integrated into our portfolio management process, which ensures that we can tap into every source of information before investing," Goudelias said.
With the closing of the latest CLO, Seix, which launched its leveraged loan strategy in 2006, has approximately $9.7 billion in leveraged loan assets under management including $3.1 billion in eight CLOs as well as $4.5 billion in high-yield bond assets.
Michael A. Angerthal, executive vice president and chief financial officer of Virtus, said, "The closing of Mountain View 2017-2 reflects the strength of the Seix leveraged finance team and the capabilities of its CLO platform, and Virtus' purchase of five percent of each class of notes demonstrates our commitment to support the growth of our affiliates."
Mitsubishi UFJ Financial Group (MUFG) Securities was the sole structuring and placement agent for this transaction.
About Seix Advisors Seix Investment Advisors is an investment management boutique and affiliated manager of Virtus Investment Partners that has been focused exclusively on managing fixed income securities since 1992. Seix seeks to generate competitive absolute and relative risk-adjusted returns over the full market cycle through a bottom-up focused, top-down aware process. Seix employs multi-dimensional approaches based on strict portfolio construction methodology, sell disciplines and trading strategies with prudent risk management as a cornerstone. The firm provides investment management services to a client base that includes endowments, foundations, corporations, healthcare organizations, public funds, insurance companies, and high net worth individuals, in the US and abroad.
About Virtus Investment Partners Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. Virtus offers access to a variety of investment styles across multiple disciplines to meet a wide array of investor needs, and provides products and services through affiliated managers and select subadvisers, each with a distinct investment style, autonomous investment process, and individual brand. In addition to Seix Investment Advisors, its affiliated managers include Ceredex Value Advisors, Duff & Phelps Investment Management, Kayne Anderson Rudnick Investment Management, Newfleet Asset Management, Rampart Investment Management, Silvant Capital Management, and Virtus ETF Solutions. Additional information can be found at virtus.com.
The securities offered in the CLO have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or pursuant to an exemption from registration under the Securities Act and applicable state securities laws. This release does not constitute an offer to sell or a solicitation of an offer to buy any such securities.
Forward-Looking InformationThis press release contains statements that are, or may be considered to be, forward-looking statements. All statements that are not historical facts, including statements about our beliefs or expectations, are "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements may be identified by such forward-looking terminology as "expect," "estimate," "plan," "intend," "believe," "anticipate," "may," "will," "should," "could," "continue," "project," or similar statements or variations of such terms. Our forward-looking statements are based on a series of expectations, assumptions and projections about our company, are not guarantees of future results or performance, and involve substantial risks and uncertainty, including assumptions and projections concerning our assets under management, cash inflows and outflows, operating cash flows, our ability to expand distribution and product offerings, and future credit facilities, for all forward periods. All of our forward-looking statements are as of the date of this release only. The company can give no assurance that such expectations or forward-looking statements will prove to be correct. Actual results may differ materially
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SOURCE Seix Investment Advisors