Rabobank Nederland, New York branch has successfully assigned the management of four CLOs (Prospero CLO I B.V., Prospero CLO II B.V., Veritas CLO I Ltd., and Veritas CLO II Ltd.) and two synthetic CDOs (Archstone I PLC, Archstone Synthetic CDO II SPC) to Alcentra NY LLC, part of BNY Mellon Asset Management. As part of the assignment, Rabobank transferred its collateral management rights and obligations to Alcentra.
Simultaneously with the effectiveness of the assignment, three members of the Rabobank team – Portfolio Manager and team head Ron Grobeck, Randy Watkins, and Daymian Campbell – moved from Rabobank to Alcentra’s New York team to continue their active work on management of the funds.
“The transfer of our CLO management business is a strategic step that will allow us to better focus our resources on providing high quality capital markets solutions to our core food and agribusiness and retail banking clients,” says Bill Mansfield, head of Global Financial Markets for Rabobank in the Americas.
L.D.