MetLife closes $450M Galaxy 38 CLO, its 45th such issuance
What's the deal? MetLife Investment Management (MIM)Dealroom has a profile for this one. Try Dealroom →, the institutional asset management arm of MetLifeDealroom has a profile for this one. Try Dealroom →, has closed Galaxy 38 CLO, a $450 million target par new issue collateralised loan obligation. PineBridge InvestmentsDealroom has a profile for this one. Try Dealroom →, part of MIM, serves as collateral manager, while BofA SecuritiesDealroom has a profile for this one. Try Dealroom → acted as arranger.
Why it matters: Galaxy 38 is the 45th CLO issuance by MIM's Leveraged Finance team, which has managed CLOs since 1999. The milestone builds on a track record that spans US and European loans, high-yield bonds, and CLOs.
By the numbers: As of June 30, 2026, PineBridge managed $26 billion in leveraged finance assets, including $12.8 billion in CLO assets under management. MIM's total assets under management stood at $748.1 billion.
What they're saying: "Galaxy 38 marks another important milestone for MIM's CLO platform and reflects the consistency of our approach," said Kevin Wolfson, US CLO and leveraged loan portfolio manager. He added that the firm remains focused on "disciplined portfolio construction and fundamental credit selection."
What's the endgame? MIM is scaling a global CLO platform staffed by investment professionals in the United States and Europe. Reaching 45 issuances signals continued ambition to grow the business as part of the broader MIM operation.
The signal: A $450 million CLO close underscores steady institutional appetite for structured credit, even as large asset managers compete to build scale in leveraged finance. For MIM, the deal reinforces its position among established players in a market it has worked since the late 1990s.
Read more: wallstreet-online.de
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