Prudential Fixed Income Management says it has taken on a new €250 million European CLO. It does not give the name of the deal but says its European bank loan team in London is acting as servicer on the deal, the collateral for which were originally selected by third party managers and held on a major bank's balance sheet.

The new deal takes Prudential's number of CDOs under management to 22, representing $8.7 billion, according to the company. Prudential Fixed Income Management is part of US-based Prudential Financial. It is not connected to the UK's Prudential M&G, which also has a European loan business.