Kansas-based hedge fund firm Palmer Square Capital Management announced last week that it has closed its second collateralized loan obligation fund this year.
The firm said through a statement that the CLO fund, which closed on September 17, raised $464 million—$100 million more than what it won for the first fund. Combined with the $362 million it raised for the first fund in April, it pushes Palmer Square's assets under management to about $2.8 billion.
Palmer Square president Christopher D. Long explained that the “CLO space was a natural extension of [the firm’s] investment platform given the team’s experience and competitive advantage in structure and credit.”
A subsidiary of Montage Investments, Palmer Square has approximately $2.8 billion in assets under management.