Nassau News
NEW YORK, Sept. 4, 2024 – Nassau Global Credit (NGC) announced the reset of Kings Point 2024-1 Ltd. (formerly known as Angel Island Capital 2023-I Ltd.) (“Kings Point”), a highly flexible collateralized loan obligation (“CLO”). The transaction, which closed on Aug. 28, 2024, consists of:
- Rated Note Issuance of $275,550,000 notional
- Total deal size of $314,360,000 notional
Kings Point is designed to offer greater investment flexibility than a traditional CLO, providing investors with actively managed exposure to NGC’s opportunistic credit strategy in securitized format. Originally issued as a static internal securitization in January 2023, Kings Point is supported by a collateral pool primarily consisting of senior secured loans and bonds.
NGC was launched in 2023 through the combination of Angel Island Capital Management and Nassau Corporate Credit. The combined firm has issued 10 U.S. dollar-denominated CLOs, this high flex/opportunistic credit CLO, and four Euro-denominated CLOs since 2017. The firm managed approximately $8.1 billion in total assets under management as of June 30, 2024.
NGC invests in the leveraged loan and high-yield bond markets across the U.S. and Europe, issuing CLOs, sponsoring private investment funds, and advising separately managed accounts. The team uses a disciplined, bottom-up credit approach to build diverse, high-quality pools with durable cashflows that can offer investors exposure to the leveraged loan market in an attractive format.
GreensLedge Capital Markets LLC acted as an advisor to NGC in connection with the reset of Kings Point.
About Nassau Global Credit
Nassau Global Credit is a multi-strategy global credit manager focused on securitized credit, opportunistic credit, and total return credit investment strategies. NGC is a subsidiary of Nassau Asset Management, the asset management business of Nassau Financial Group with $24.3 billion in assets under management as of June 30, 2024. NGC is headquartered in New York with offices in London and Connecticut. For more information, visit Nassau Global Credit and Nassau Financial Group.
Contact:
corporate.communications@nfg.com
or
NassauFinancialGroup@fgsglobal.com
