NEW YORK – Guggenheim Partners ("Guggenheim"), a global diversified financial services firm, today announced that for the third straight year it received high honors at Creditflux's 2013 Manager Awards, an annual event honoring the best performing collateralized loan obligations (“CLOs”), credit funds, and investment managers. Creditflux is a London-based publisher of credit derivatives industry news.
Guggenheim was selected from among a roster of highly respected corporate credit asset managers for its exceptional management of 5180 CLO LP (“5180 CLO”), which was recognized as the “Best US CLO 2.0”, a category that measures the best CLO with a closing date between 2009 and 2011, based on liquidation IRR*.
Originally priced at $1,043,500,000 in November 2011, Guggenheim’s 5180 CLO was the largest CLO issued in 2011 and one of the largest arbitrage CLOs issued since the inception of the market. It invests in a diversified portfolio consisting primarily of senior secured bank loans – an area of deep expertise for Guggenheim’s corporate credit team.
In addition to winning “Best US CLO 2.0”, Guggenheim also garnered recognition for its management of Copper River CLO Ltd., a collateralized loan obligation it priced in 2007 that was nominated for "Best seasoned US CLO”; and Green Lane CLO Ltd, which was a top candidate for Creditflux’s “Best called CLO” category.
The 2013 Manager Awards represent the third consecutive year that Guggenheim has been recognized by Creditflux for investment management excellence. In 2012, Guggenheim was awarded the prestigious title of "Manager of the Year" and its Copper River CLO was awarded "Best Boom-Years U.S. CLO (2006-2008)." In 2011, the Firm earned high praise as well, being named "Best U.S. CLO Manager".
“These industry recognitions are a testament to our exceptional corporate credit team and the diligent efforts they put forth every single day,” said Mike Damaso, co-head of Guggenheim's corporate credit business. “The 5180 CLO transaction demonstrates our commitment to utilizing innovative solutions to unlock value for investors. We are proud that it has been recognized as premier in its category by Creditflux’s rigorous, performance-based methodology.”
The firm’s inaugural European transaction, Iron Hill CLO Limited, was eligible for inclusion this year and was nominated for “Best seasoned European CLO.” “This exemplifies how our intensive underwriting and risk management can be applied effectively outside of the U.S. to adapt for different accounting standards, economies, legal jurisdictions, and capital markets,” said Adrian Duffy, Head of European Credit Investing for Guggenheim.
About Guggenheim Partners
Guggenheim Partners is a privately held global financial services firm with more than $180 billion in assets under management. (Assets under management are as of March 31, 2013, and include consulting services for clients whose assets are valued at approximately $37 billion.) The firm provides asset management, investment banking and capital markets services, insurance services, institutional finance and investment advisory solutions to institutions, governments and agencies, corporations, investment advisors, family offices and individuals. Guggenheim Partners is headquartered in New York and Chicago and serves clients around the world from more than 26 offices in eight countries. For more information about Guggenheim Partners, visit www.guggenheimpartners.com.
Thomas S. Mulligan
Sitrick And Company
Sitrick And Company
Past performance should not be construed as a guarantee of and may not be indicative of future performance. The information presented above is intended for informational purposes only and is not an offer to buy or sell, or a solicitation of an offer to buy or sell, any security or fund interest.
About Creditflux Methodology
*The Creditflux “CLO” awards are performance-based awards presented to a CLO selected from the CLO universe, which includes US and European CLOs, and where possible differentiates between vintages. In 2011, 293 CLOs were submitted by approximately 50 CLO managers, and in 2012, 300 CLOs were submitted by 66 managers. Performance is evaluated across the lifetime of a deal up to the end of the year preceding the award year. The Creditflux “Manager of the Year” award measures performance across a manager as a whole. The universe of managers is divided into European and US managers and again into those firms with more than $2bn of CLOs under management and those with $2bn or less under management. Managers must submit all of their deals or be penalized. Liquidation IRR is the internal rate of return equity investors would receive if a CLO had been liquidated on 31 December 2012, all its assets sold at market value and all proceeds and remaining cash distributed to investors in accordance with the cashflow waterfall. To achieve a positive liquidation IRR, CLOs must be able to repay all debt liabilities. Market values are based on an average of all managers’ marks for that asset. Creditflux applies a haircut for assets that are held by only one manager. More information about these awards can be reviewed on Creditflux’s website (www.creditflux.com).