GREENWICH, Conn.--(BUSINESS WIRE)--Marble Point CLO Management LLC, an affiliate of Marble Point Credit Management LLC, today closed Marble Point CLO XI, the firm’s second new issue collateralized loan obligation since mid-year 2017 and the sixth completed CLO transaction of the year for Marble Point. Marble Point CLO XI closed at $508.5 million. The Marble Point platform serves as collateral manager to 7 CLOs with approximately $3.3 billion in total assets under management.

The new CLO is backed by a diversified portfolio of broadly syndicated senior secured loans. Five classes of notes rated Aaa through Ba3 by Moody’s and one class of notes rated AAA by Fitch totaling $460.0 million were placed in the transaction. Marble Point CLO XI has a two year non-call period and a five-year reinvestment period with a final maturity of 13 years. Marble Point has retained equity in the CLO and intends to comply with applicable US and European risk retention requirements.

Marble Point was formed in 2016 by Thomas Shandell, a 33-year veteran of the credit markets, in partnership with Eagle Point Credit Management LLC. Sumitomo Mitsui Trust Bank, Limited (a Japanese Trust Bank) and GreensLedge Holdings are strategic investors in Marble Point.

Bank of America Merrill Lynch acted as the arranger for the CLO. Dechert LLP acted as legal advisor to Marble Point.