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Natixis Acts as a Financial Advisor in Sale of Fifth Street CLO Management to NewStar Financial
Natixis Securities Americas LLC announced today that it acted as a financial advisor in the sale of Fifth Street CLO Management LLC to NewStar Financial, Inc.
Fifth Street CLO Management LLC was formed in 2015 to manage the middle market CLO business of Fifth Street Asset Management Inc. (NASDAQ: FSAM) (“Fifth Street”) and currently manages two CLOs, Fifth Street Senior Loan Fund I, LLC and Fifth Street SLF II, Ltd, that invest in middle market loans originated by Fifth Street. The company also holds interests in its CLOs primarily to comply with regulatory risk retention requirements.
“This is a significant transaction for both the industry and the Natixis CLO advisory practice and shows the demand for CLO management contracts,” said Kevin Alexander, Head of Natixis Global Markets and Investment Banking Americas.
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About Natixis
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne, Natixis counts nearly 16,000 employees across 38 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE’s networks. Listed on the Paris stock exchange, Natixis has a solid financial base with a CET1 capital under Basel 3(1) of €11.2 billion, a Basel 3 CET1 Ratio(1) of 11.3% and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A+).
(1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in and including current financial year’s earnings and accrued dividend (based on a 60% pay-out).
Figures as at 31 December 2019.
