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