Babson makes new CLO management acquisition

US credit manager Babson Capital has announced that it has taken over as replacement manager on two US CLOs. It says it was selected by controlling investors as replacement manager on Tricadia CDO 2005-4, totaling $250 million and the $330 million. Tricadia CDO 2006-6. It will rename the deals as Ashford CDO I and Ashford CDO II respectively.

The acquisition of these manager mandates from Tricadia Loan Management, part of New York-based hedge fund manager Tricadia Capital, takes Babson’s tally of replacement manager CLOs to 16, totaling $4.7 billion, according to the firm.