BOSTON, Jan. 2, 2013 (GLOBE NEWSWIRE) -- THL Credit Senior Loan Strategies LLC ("THL Credit SLS"), a subsidiary of THL Credit Advisors LLC ("THL Credit Advisors"), which is the external investment manager of publicly listed business development company THL Credit, Inc. TCRD, today announced that it has closed on a $513.6 million collateralized loan obligation ("CLO") led by Deutsche Bank Securities Inc. and co-arranged by PNC Capital Markets LLC.
THL Credit SLS was formed following THL Credit Advisors' acquisition of McDonnell Investment Management, LLC's Alternative Credit Strategies Group in June 2012. The highly experienced THL Credit SLS management team, led by James R. Fellows, Brian W. Good, Robert J. Hickey and Michael A. Herzig, has worked together for more than 20 years and has a track record of exceptional performance.
"The acquisition of THL Credit SLS has expanded the breadth of THL Credit Advisors' business and resulted in synergies across the credit platform," said James K. Hunt, CEO and CIO of THL Credit Advisors. "The complementary nature of THL Credit SLS's senior loan strategies with THL Credit's middle market junior debt product allows us to leverage our industry knowledge and resources across a more scaled and integrated credit platform."
"We are pleased to have worked with both Deutsche Bank and PNC on this transaction as they have been exceptional partners throughout this process," said Michael A. Herzig, Managing Director of THL Credit SLS.
About THL Credit Advisors
THL Credit Advisors, the credit affiliate of Thomas H. Lee Partners L.P., is the external manager of THL Credit, Inc. and an SEC-registered investment adviser. Through its various THL Credit affiliates encompassing both junior debt and senior loan strategies, THL Credit Advisors manages approximately $3.3 billion of assets and is headquartered in Boston, with additional investment teams in Chicago, Houston, New York and Los Angeles.
THL Credit, Inc. TCRD is an externally-managed, non-diversified closed-end management investment company that has elected to be treated as a business development company (BDC) under the Investment Company Act of 1940. THL Credit, Inc.'s investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies.
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