Collateralized Loan Obligations

Collateralized Loan Obligations (CLOs) are structured finance vehicles that pool corporate bank loans and sell securities to qualified investors. Collectively, PPM and our affiliate PPM Loan Management Company, LLC (PPMLM) have served as collateral manager for 11 CLOs dating back to 1999. As collateral manager, we select investments appropriate for the portfolio, manage assets held by the CLO, and determine an appropriate exit from each investment.1 CLOs are a natural extension of our investment activities and expertise in floating rate corporate bank loans, leveraging the talent and experience of our CLO management team, which has an average of 33 years investment experience.

Deals
  • SERVES 1999-5
  • SERVES 2001-6
  • SERVES 2004-1
  • SERVES 2006-1
  • PPM Grayhawk CLO
  • PPM Riviera Loan Fund
  • PPM CLO 2018-1
  • PPM CLO 2
  • PPM CLO 3
  • PPM CLO 4
  • PPM CLO 5

Investment Solutions

Resources

$10
Billion of Leveraged Credit & CLO AUM2
33
Years average investment experience
11
CLO Launches Since 1999
$4.5
Billion of CLO committed Capital

Active CLO Manager Since 1999

Bank Loan Team History

Bank Loan Team History

Portfolio Managers

Experience and Stability

PPM utilizes a team-based approach to manage the assets of the portfolio, working closely to generate ideas and gain greater insight on the macroeconomic environment as they make investment decisions. The portfolio management team is supported by peers on the fixed income team as well as the credit research, structured products, risk management and trading teams. The research performed by credit analysts is among the most important inputs contributing to the portfolio management team’s investment decisions.

photo of John Walding
John Walding

Senior Managing Director, Head of Bank Loans

photo of Chris Kappas
Christopher Kappas

Senior Managing Director, Portfolio Manager

Collateralized Loan Obligations

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photo of James Damron
James Damron

Senior Managing Director, Head of CLO Management

Our Insights

Our Story

We have the expertise, reach and resources to provide clients with a diverse set of investment solutions.

Firm statistics provided above are as of 31 March 2022. (1) All securities sold by a CLO managed by PPM are sold via third party placement agents and are not available for purchase from PPM or its affiliates directly. (2) Includes bank loan and high yield assets across all PPM client accounts. PPMLM is a registered investment adviser that manages CLOs and has $1.91 billion AUM as of 31 March 2022. PPMLM has a service and employee sharing agreement with PPM.