Control investor sells majority stake in illiquid Pimco CLO

By Sayed Kadiri

A 2007 Pimco CLO made its first secondary market appearance yesterday after a control investor sold its stake

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TAGS: Allianz Pimco

View details on CLO-i: Portola - called deal

Comment by: Anonymous. Posted 3 years ago [2014-08-07 19:19:20]

This equity traded several times off-list.

Comment by: Sayed Kadiri. Posted 3 years ago [2014-08-07 12:25:05]

Thanks to the reader below for pointing out the original mid-70s valuation of the equity in Portola CLO. By using this purchase price, the seller yesterday is estimated to have generated a return of 16.8%

Comment by: Anonymous. Posted 3 years ago [2014-08-07 12:02:32]

This CLO was originally sold in the mid-70s, taking advantage of loan discounts in Q4 2007. An original investor's returns were much better than 5.7%, if they held.