Please ensure Javascript is enabled for purposes of website accessibility

Prudential Fixed Income Launches European Bank Loan Strategy

The bank loan business is the first step toward building a broader, European-based fixed income planNewark”s Prudential Fixed Income has launched a strategy to invest in the European bank loan market on behalf of institutional investors and affiliates, expanding its leveraged-finance business.
The business is building the strategy around a new team, which begins operations in London this week. Prudential Fixed Income is the primary fixed-income asset manager for Prudential Financial (NYSE: PRU).
Prudential will manage European collateralized loan obligations (CLOs) and bring existing investors” money to the European leveraged-loan market. The bank loan business is the first step toward building a broader, European-based fixed income strategy, the company says.
To further this plan, Jonathan Butler joins Prudential from NIB Capital to lead the new London-based team as a principal and portfolio manager. Michiel Von Saher, vice president, and Fabrizio Marchesi, a senior associate, are also joining the team from NIB.
“Combining this local team”s European expertise with our thoughtful approach to investing and credit research will enable us to conform to the standards of the market and help to establish us as long-term participants in this rapidly growing market,” said Jim Sullivan, senior managing director and head of Prudential Fixed Income.
At the close of trading Prudential Financial shares were up $0.55 to $65.64.

NJBIZ Business Events