European capital solutions provider Kartesia has launched Kartesia Loan Management (KLM), a new European collateralised loan obligation (CLO) platform, marking its expansion into large-cap corporate credit.
The platform has already raised over €140m (£121m) in CLO equity capital and is backed by New York Life Investment Management and Candriam, which earlier this year announced they were increasing their stake in Kartesia from 33 per cent to 80 per cent.
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The KLM strategy will draw on the expertise of a seven-person team led by Michael Htun, who joined Kartesia in 2024 as head of CLOs and structured credit from BNP Paribas. He is supported by Dean Graham, a former director at Fortress Investments, who started as CLO portfolio manager at Kartesia in March.
The launch comes comes amid strong growth in the European CLO market with continually increasing institutional investor demand. Since inception, Kartesia has also deployed more than €400m into CLO equity tranches.
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“We are delighted to bring the KLM strategy to market with the addition of several exciting new team members, leveraging the long-standing leveraged credit expertise of the Kartesia platform combined with our technical knowledge of capital formation,” said Htun. “Our access to differentiated information will be essential in driving superior credit selection and active portfolio rotation.”
