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Rating:Invesco Shops CLO Portfolio Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, December 15, 2011

Invesco Shops CLO Portfolio

News summary by MFWire's editors

Invesco Ltd. [profile] is shopping European collateralized loan obligations (CLO), but it will not push through with the divestment unless it receives attractive bids, reports Dow Jones Newswire. The report characterizes the source as "a person aware of the sale."

The $16.4-billion Invesco bank loan group -- which used to be Invesco Senior Secured Management, Inc. -- first marketed the assets early last week, said the source. However, a spokesman for Atlanta-based Invesco declined to comment to Dow Jones on the sale.

As of September 30, Invesco had $598.4 billion of assets under management.

Invesco's move follows similar steps taken by Highland Capital Management LP. That firm will reportedly announce the buyer of the $23-billion Highland Capital Management Europe, Ltd. in the next several days, co-founder and chief investment officer Mark Okada told Dow Jones.

Private-equity firms and large asset managers capable of spreading billions of new assets over existing portfolios with ease are the likely buyers for these blocks. 

Edited by: HFD

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