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Bank CIO returns to US CLO triple-As after 18 months

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Bank CIO returns to US CLO triple-As after 18 months

Tanvi Gupta's avatar
  1. Charlie Dinning
  2. +Tanvi Gupta
•2 min read

This article is part of our new service, 9fin Structured Credit. If you're interested in a free trial, contact subscriptions@9fin.com

Citi's chief investment office is understood to have returned to US CLO investing with the bank said to have bought into KKR CLO 44, which priced today, according to sources.

The KKR deal marks the first primary CLO investment made by Citi CIO, which invests in triple-A rated CLO tranches, in 18 months, sources tell 9fin. US banks in general have been mostly absent from the primary CLO market this year, but there is hope that they will return en masse soon. Adrienne Butler, co-head of Barings' US high yield business and head of US CLO funds, discussed this with 9fin about it earlier this month.

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