Alcentra Snags $1.53B Rabobank CLO Business

Law360, New York (August 4, 2009, 6:26 PM EDT) -- Investment group Alcentra NY LLC has acquired Rabobank Nederland’s U.S. collateralized loan obligation business, in a move that will add nearly $1.53 billion in U.S.-managed assets to Alcentra’s business.

The transaction, which was finalized Thursday, will allow Alcentra NY to take on all of Rabobank’s U.S.-based CLO business, according to O'Melveny & Myers LLP, which represented Alcentra NY in the deal.

CLOs are a type of asset-backed security similar to collateralized bond obligations, but based on a bank’s portfolio of personal loans, not bonds.

O'Melveny attorney...
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