KCAP Financial is the seller.

Trimaran libremax. The New York-based LibreMax announced the deal Friday stating it will take over six CLOs with 3 billion in portfolio assets that Trimaran managed under former owner KCAP Financial. LibreMax is an 84 billion investment management firm specializing in structured products and corporate credit. LibreMax Capital and TowerBrook Capital Partners have formed CAVU Investment Partners.

Trimaran operates as an integrated credit-based firm with 38 billion of AUM across eight CLOs as of Dec. On Bloomberg Money Undercover Bloombergs Lisa Abramowicz talks with David Moffitt head of tactical investment opportunities and CLO management at LibreMax Capital and president of Trimaran. 9 that it agreed to buy Trimaran Advisors LLCFinancial terms werent announced.

David Moffitt pictured Head of Tactical Opportunity Investing and CLO Management at LibreMax and President of Trimaran will serve as President of CAVU. LibreMax acquired Trimaran in December 2018. Trimaran currently manages six CLOs with approximately 3 billion of assets under management.

This new entity formed in partnership with international investment management firm TowerBrook Capital Partners LP. Following the transaction Dominick Mazzitelli Chief Investment Officer and head of the firms CLO platform will continue to lead that business alongside the existing management team. TowerBrook will invest in the equity tranches of new issue.

LibreMax Capital LLC said Nov. Trimaran currently manages six CLOs totaling about 3 billion in assets. Founded in 2010 LibreMax Capital LLC is a New York-based asset management firm specializing in structured products and corporate credit with 63 billion of assets under management.

LM RUBICON MERGER SUB 3 LLC. Trimaran is a well-respected CLO manager with a seasoned team of investment professionals whose strategy complements our deep structured credit expertise says Greg Lippmann Chief Investment Officer of LibreMax. Trimaran currently manages six CLOs with approximately 3 billion of assets under management.