|[September 03, 2014]
Prudential Fixed Income to manage new $666.5 million CLO
NEWARK, N.J. --(Business Wire)--
Prudential Fixed Income has been appointed as the collateral manager for
the Dryden 34 Senior Loan Fund, a recently closed $666.5 million
collateralized loan obligation. Prudential
Fixed Income, among the largest fixed income managers in the U.S.,
is the principal public fixed income asset management business of
Prudential Financial, Inc. (NYSE: PRU).
The Dryden 34 Senior Loan Fund closed Aug. 28 and is the 10th
post-crisis CLO to be closed under the Dryden brand in the U.S.
Globally, it is the 51st cash or synthetic CLO/CDO structure to be
managed or sub-advised by either or both of Prudential Fixed Income's
teams in Newark and London. Standard & Poor's rank Prudential Fixed
Income, which now manages more than $10 billion in CLO capital, among
the largest global CLO managers.
Prudential Fixed Income, with $533 billion in assets under management as
of June 30, 2014, offers institutional investors needs-based solutions
across all fixed income markets, with a focus on credit strategies and
liability-driven investing. Prudential Fixed Income has portfolio
management and research teams in Newark, N.J., and in London, Singapore
and Tokyo. For more information, please visit http://www.prudentialfixedincome.com.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with
more than $1.1 trillion of assets under management as of June 30, 2014,
has operations in the United States, Asia, Europe, and Latin America.
Prudential's diverse and talented employees are committed to helping
individual and institutional customers grow and protect their wealth
through a variety of products and services, including life insurance,
annuities, retirement-related services, mutual funds and investment
management. In the U.S., Prudential's iconic Rock symbol has stood for
strength, stability, expertise and innovation for more than a century.
For more information, please visit www.news.prudential.com.
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