Beach Point Closes Second CLO Totaling $397.44m

Beach Point CLO Management LLC, an affiliate of Beach Point Capital Management LP (collectively “Beach Point”), today announced the final closing of Sandstone Peak II Ltd., Beach Point’s second Collateralized Loan Obligation (CLO). The total deal, sized at $397.44m, received broad support from a diverse range of investors. JP Morgan acted as lead arranger.

Beach Point Portfolio Manager and head of High Yield and Leveraged Loan strategies Sinjin Bowron said, “We were very pleased with the strong interest in the firm from investors and are excited about the opportunities ahead for our growing CLO platform. We view this market as an especially attractive one for our approach to credit investing, which emphasizes bottom-up financial and structural analysis with a focus on downside protection, and we look forward to continuing to build on our strong momentum.”

The close of Sandstone Peak II brings Beach Point’s total CLO platform to over $850 million. Beach Point has been an active investor in leveraged loans since its inception in 2009.

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About Beach Point

Beach Point is a multi-strategy investment manager making credit, private equity, real estate and structured product investments. The firm employs a flexible, value-oriented and risk-controlled approach. As of May 31, 2023, Beach Point manages $14.8 billion in AUM on behalf of a predominantly institutional client base. Headquartered in Santa Monica, CA, the firm also has offices in New York, London, and Dublin.

Source: PR News Wire

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