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Prudential to begin operations in London this week, offering European CLOs
By Sara Rosenberg
New York, June 22 - Prudential Fixed Income is entering the European bank loan market as it will manage European collateralized loan obligations and bring existing institutional investors' money to the European leveraged loan market, according to a company news release.
Jonathan Butler was hired to lead the new London-based team as a principal and portfolio manager. Previously Butler was head of the CLO group at NIB Capital.
Michiel Von Saher and Fabrizio Marchesi have been hired as senior credit analysts. Both Saher and Marchesi were previously at NIB Capital as well.
"We are thrilled to launch this business with a top-notch team. Combining this local team's European expertise with our thoughtful approach to investing and credit research will enable us to conform to the standards of the market and help to establish us as long-term participants in this rapidly growing market," said Jim Sullivan, senior managing director and head of Prudential Fixed Income, in the release.
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