] 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.
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