Launches & Closures Hedge Funds

GoldenTree raising $300 million CLO debt fund


Joseph Naggar will manage the firm’s latest structured credit offering.

   Joseph Naggar
(Photo: Mackenzie Stroh)
GoldenTree Asset Management, the $10.5 billion credit hedge fund firm led by Steve Tananbaum, continues its expansion into the structured credit market with the preparation of a $300 million collateralized loan obligation investment fund, according to marketing materials for the new vehicle.

The GoldenTree CLO Debt Investment Fund 2012 will be led by Joseph Naggar, a partner and head of structured products at the firm.

GoldenTree declined to comment, but it appears to share a belief among an increasing number of credit hedge fund managers