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.
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SOURCE Saratoga Investment Corp.