KCAP Financial Closes New Collateralized Loan Obligation Fund

KCAP Financial, Inc. KCAP KAP announced that its wholly owned portfolio company, Trimaran Advisors, LLC, closed a $415 million collateralized loan obligation fund of leveraged loans and high yield bonds. Trimaran is the collateral manager for this fund and KCAP Financial will invest approximately $12.5 million in tranches of subordinated notes issued by the fund in connection with the transaction.