Creditflux Selects Saratoga Investment Corp As The 2021 Best U.S. Boutique CLO Manager

Rhea-AI Summary

Saratoga Investment Corp (NYSE:SAR) has been awarded the title of 2021 Best U.S. Boutique CLO Manager by Creditflux, marking its third consecutive nomination. The award recognizes top performance in the CLO and credit fund management sector based on rigorous quantitative criteria including cash distributions and debt compliance. Saratoga manages a $650 million CLO fund and has distributed $73 million in cash to shareholders. The recognition highlights the company’s commitment to strong financial performance for over 11 years.

Positive

• Awarded 2021 Best U.S. Boutique CLO Manager by Creditflux, enhancing reputation.
• Managed a successful CLO fund of $650 million with consistent compliance and cash distributions.
• Distributed $73 million in cash and $27 million in management fees to shareholders since inception.

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• None.

NEW YORK, Sept. 20, 2021 /PRNewswire/ -- Saratoga Investment Corp ("Saratoga") (NYSE:SAR) ("Saratoga Investment" or "the Company"), a business development company ("BDC"), was selected as the recipient of the 2021 Best U.S. Boutique CLO Manager by Creditflux, a London-based global publication and leading information source for the global market of credit funds and CLOs. The award is given to one CLO manager each year with four or fewer outstanding CLOs.  It is the third consecutive year that Saratoga has been nominated for Creditflux Best U.S. Boutique CLO Manager.

Creditflux's Credit Symposium and Manager Awards took place on September 8, 2021. The 12th Creditflux Manager Awards are fully quantitative performance-based awards for the global CLO and credit fund management industry. Each year, they reward the best performance throughout the world over the previous 12 months. Awards were given to managers of private credit funds, high yield funds, CLOs and hedge funds from across the industry and the globe, representing a wide range of strategies and styles. Awards are objectively calculated based on several criteria including a combination of annualized cash distributions, debt compliance coverage, weighted average price and spread, average portfolio ratings and CCC balances, standard deviation on cash distributions, and annualized IRRs.

Saratoga has managed a collateralized loan obligation ("CLO") fund, currently $650 million in size, since Saratoga's inception. The CLO has completed four investment period extensions or "resets" during that period, and has never been out of compliance with its debt compliance ratios under Saratoga management. The CLO has distributed $73 million in cash distributions and $27 million in management fees to its shareholders since inception.   

"We are extremely honored to be recognized by Creditflux as the Best US Boutique CLO Manager," said Christian Oberbeck, Chairman and CEO of Saratoga. "Our award selection is indicative of the depth and breadth of the Saratoga credit platform. For over 11 years we have provided strong, consistent financial performance for our investors and shareholders. We are pleased to be selected for this prestigious award which was based purely on objective criteria." 

Tom Inglesby, CLO portfolio manager, added "On behalf of our Saratoga shareholders, we appreciate the recognition of this award, which reflects our strong record of credit selection, cash distributions and debt compliance, as well as our ability to complete four separate investment period resets." 

About Saratoga Investment 

Saratoga Investment is a specialty finance company that provides customized financing solutions to U.S. middle-market businesses. The Company invests primarily in senior and unitranche leveraged loans and mezzanine debt, and, to a lesser extent, equity to provide financing for change of ownership transactions, strategic acquisitions, recapitalizations and growth initiatives in partnership with business owners, management teams and financial sponsors.  Saratoga Investment's objective is to create attractive risk-adjusted returns by generating current income and long-term capital appreciation from its debt and equity investments. Saratoga Investment has elected to be regulated as a business development company under the Investment Company Act of 1940 and is externally-managed by Saratoga Investment Advisors, LLC, an SEC-registered investment advisor focusing on credit-driven strategies. Saratoga Investment owns two SBIC-licensed subsidiaries and manages a $650 million collateralized loan obligation ("CLO") fund. It also owns 52% of the Class F and 100% of the subordinated notes of the CLO. The Company's diverse funding sources, combined with a permanent capital base, enable Saratoga Investment to provide a broad range of financing solutions.

View original content:https://www.prnewswire.com/news-releases/creditflux-selects-saratoga-investment-corp-as-the-2021-best-us-boutique-clo-manager-301379973.html

SOURCE Saratoga Investment Corp.

FAQ

What award did Saratoga Investment Corp receive in 2021?

Saratoga Investment Corp was awarded the 2021 Best U.S. Boutique CLO Manager by Creditflux.

How much cash has Saratoga Investment distributed to shareholders?

Saratoga Investment has distributed $73 million in cash to its shareholders since inception.

What is the size of Saratoga Investment's CLO fund?

Saratoga Investment manages a CLO fund currently valued at $650 million.

What does the award from Creditflux signify for Saratoga Investment?

The award signifies Saratoga Investment's strong performance and compliance in the CLO and credit fund management industry.

How many years has Saratoga Investment been nominated for the Creditflux award?

Saratoga Investment has been nominated for the Creditflux Best U.S. Boutique CLO Manager award for three consecutive years.