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https://www.wsj.com/articles/assured-guaranty-and-sound-point-join-up-to-form-clo-powerhouse-fd22e6b

Assured Guaranty and Sound Point Join Up to Form CLO Powerhouse

The deal is part of a wave of consolidation driven by insurers and alternative asset managers

Assured Guaranty has committed to invest $1 billion in funds operated by Sound Point. Photo: Pavlo Gonchar/Zuma Press
By Matt Wirz

Insurer Assured Guaranty Ltd. and debt fund manager Sound Point Capital Management LP have agreed to join forces to better compete in the booming credit-investing market.

The tie-up, earlier reported in The Wall Street Journal on Wednesday, would create a fund manager with $47 billion invested primarily in corporate debt with below-investment-grade credit ratings.

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Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.