Nassau Corporate Credit took the award for the Best US Boutique CLO Manager at Creditflux’s 11th Manager Awards. It was among several “new kids on the block” to dominate this year’s awards, which recognized both European and US firms. Nassau Corporate Credit, founded in 2017 as an affiliate of Nassau Re, provides investment advisory services, acts as a collateral manager for collateralized loan obligations (CLOs) and, through its affiliate, Nassau Private Credit, invests in securities issued by CLOs managed by external parties.
Read more about Nassau Corporate Credit and the Manager Awards in the June 2019 edition of Creditflux.
The “Best US Boutique CLO Manager” was awarded by Creditflux (a London-based publisher of information about credit funds and CLOs) to a US CLO manager with four or less active CLOs. Managers may self-nominate if they meet the criteria for the relevant award. Although Nassau Corporate Credit is not aware how many managers chose to self-nominate, there were at least 3 other finalists announced. The winner was determined by calculating the mean blended performance of each CLO relative to its peers in the following six performance metrics: change in junior over-collateralization, weighted average rating factor (WARF), average collateral value, weighted average spread (WAS), cash-on-cash return to equity, and equity volatility. While there is no fee to self-nominate, there is a cost to attend the awards ceremony. Managers do not need to attend the awards ceremony to win the award; however, Nassau Corporate Credit chose to attend, purchasing 1 ticket at £800+VAT.