Back to TFG Asset Management Press Releases


28 Jul 2015

NEW YORK, July 28, 2015 – LCM Asset Management LLC announces the closing of a $617.5 million collateralized loan obligation (CLO).  The most senior notes are rated AAA (sf) /Aaa (sf) by Standard & Poor’s Ratings Services and Moody’s Investors Services, Inc., respectively, and bear interest at three-month LIBOR plus 1.47%.

The CLO, called LCM XIX Limited Partnership, includes:

  • A $363 million AAA (sf) rated Class A tranche with a coupon of 147 basis points over Libor;
  • A $81 million AA (sf) rated Class B tranche with a coupon of 200 basis points over Libor;
  • A $45 million A (sf)  rated Class C tranche with a coupon of 270 basis points over Libor;
  • A $34.5 million BBB (sf)  rated Class D tranche with coupon of 345 basis points over Libor;
  • A $10 million BB- (sf) rated Class E1 tranche with a coupon of 645 basis points over Libor;
  • A $17 million BB- (sf) rated Class E2 tranche coupon of 570 basis points over Libor;
  • A $67 million equity tranche.

About LCM

LCM Asset Management LLC (“LCM”) was established in 2001 to manage client funds through investment funds, accounts or vehicles, which principally include portfolios of senior secured bank loans.  LCM is staffed with senior professionals with significant experience in leveraged lending as well as relevant industry specialties.  LCM currently serves and may in the future serve as collateral manager or manager of various collateralized loan obligation vehicles, funds, managed accounts or other investment vehicles.  The company’s headquarters are in New York.  LCM is owned by Tetragon Financial Group Limited (“TFG”) and is a part of TFG’s asset management platform, TFG Asset Management.

About TFG and TFG Asset Management:

Tetragon Financial Group Limited (“TFG”) is a Guernsey closed-ended company traded on Euronext Amsterdam N.V. under the ticker symbol “TFG” that aims to provide stable returns to investors across various credit, equity, interest rate, inflation and real estate cycles.  The company’s investment portfolio comprises a broad range of assets, including an asset-management business (TFG Asset Management), and covers bank loans, real estate, equities, credit, convertible bonds and infrastructure.

TFG Asset Management currently consists of LCM, the GreenOak Real Estate joint venture, Polygon Global Partners, Equitix and Hawke’s Point.  TFG Asset Management L.P. is registered as an investment adviser under the U.S. Investment Advisers Act of 1940 and two of its investment management entities, Polygon Global Partners LLP and Equitix Investment Management Ltd., are authorised and regulated by the United Kingdom Financial Conduct Authority.

For further information, please contact:

LCM Asset Management:
Investor Relations

Press Inquiries:
Sard Verbinnen & Co.
+1 212 687 8080