OFS equity investment

OFS Credit Company has disclosed that it has invested in the equity tranches of 19 CLOs, 17 of which have a reinvestment period ending in 2022 or beyond, for a total cost of US$43.6m (US$53.4m principal amount). The move follows OFS Credit’s IPO, which closed on 10 October and resulted in net proceeds of US$50m. OFS Capital Management, investment advisor to OFS Credit, paid the sales load and organisation and offering costs associated with the IPO.

UK

Octane Capital has hired Richard Hollingsworth as senior structured finance manager. He joins the firm from HSBC where he worked as a senior corporate banking manager.

Reed Smith has hired Omar Al-Ali as partner to its energy and natural resources group in London. Al-Ali specialises in structured trade and commodities finance and joins from Simmons & Simmons.

White & Case has promoted 41 lawyers around the world to its partnership. These include Laura Hoyland, named a partner to the firm’s global tax practice in London and Richard Lloyd to the global banking practice, also in London. Hoyland advises corporate and individual clients on financing and corporate transactions including securitisations, while Lloyd advises on domestic and cross-border finance transactions, including leveraged acquisition finance, bank lending and financial restructuring. He also works on trade and receivables finance, structured finance and securitisations.

US

Amundi Pioneer has appointed Douglas Breeden to the role of md, director of securitised assets and portfolio manager. Breeden was a founder and senior research consultant of Amundi Smith Breeden, prior to the firm combining with Pioneer Investment Management to form Amundi Asset Management. Breeden has also worked as professor of finance and former dean at Duke University.

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