Symetra closes $459M CLO, its second since launching leveraged credit platform
What's the deal? Symetra Investment Management (SIM)Dealroom has a profile for this one. Try Dealroom → has closed SymetraDealroom has a profile for this one. Try Dealroom → CLO 2026-1, a $459 million collateralized loan obligation (CLO) and the second such transaction from the Farmington, Connecticut-based firm. The deal, arranged by Morgan Stanley, is backed primarily by senior secured loans.
Why now? The transaction was upsized from an initial $400 million target, which SIM attributed to investor demand. It follows the firm's inaugural $408 million CLO in 2025.
What's the endgame? SIM is building a scalable CLO management platform within its broader leveraged credit business, which spans high yield bonds, bank loans, and CLOs. The firm manages roughly $94 billion in assets as of June 30, 2026, across fixed income and alternative strategies.
The new CLO carries a two-year non-call period and a five-year reinvestment period. "The successful closing of our second CLO demonstrates the continued evolution of, and ongoing commitment to, SIM's leveraged credit capabilities," said Nicholas Mocciolo, chief investment officer and interim co-president.
Mark Pelletier, head of leveraged finance, credited investor backing for the pricing and upsizing. He called the deal "an important milestone in the continued growth of the Symetra CLO platform."
The signal: Founded in 2019 and wholly owned by Symetra Financial CorporationDealroom has a profile for this one. Try Dealroom →, SIM is quickly scaling in structured credit. Two CLOs in under two years — each larger than the last — point to a firm betting on sustained appetite for leveraged loan products.
Read more: streetinsider.com
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