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Chatham launches US CLO platform - PitchBook

Chatham Asset Management has launched CTM Asset Management, a new US CLO platform led by Thomas Flannery, a seasoned CLO executive with 25 years of leveraged credit experience, supported by a team of industry veterans including Matthew Sosland, Andrew Chatham, and Chuck Chakrala, to actively issue and manage new US CLOs with significant capital backing and plans to expand its credit research staff.

CTM Asset Management, led by Thomas Flannery, will print and actively manage new-issue US CLOs.

Chatham Asset Management announced on September 9 the launch of a separately managed CLO management business, CTM Asset Management. This new entity will be responsible for issuing and actively managing new US CLOs (Collateralized Loan Obligations).

Chatham has made a significant capital commitment to CTM to help build the CLO platform and support initial new-deal issuance.

The New Jersey-based private investment firm has appointed Thomas Flannery, a former Credit Suisse Asset Management CLO executive, as group head and chief investment officer for CTM. Flannery previously served as senior portfolio manager and managing director for CSAM, now UBS Asset Management.

Chatham has assembled a team of experienced CLO and leveraged credit professionals to work under Flannery, and plans to hire six to eight credit research analysts to support the business.

Flannery brings 25 years of experience in the leveraged credit field, having managed more than 70 CLOs in his career. He was also the chief investment officer of CSAM’s syndicated loan and high-yield bond mutual funds.

The CLO platform team under Flannery includes:

  • Portfolio Manager Matthew Sosland: A 27-year veteran in leveraged credit, Sosland has held similar roles at Advent Capital Management, Morgan Stanley Investment Management, Assurant (where he established the CLO management platform), 3i Debt Management, and Fraser Sullivan Investment Management.

  • Head of Structured Credit Andrew Chatham: Previously at Assured Investment Management (formerly BlueMountain Capital Management), Chatham served as portfolio manager with responsibilities including CLO tranche investing and CLO structuring.

  • Head of CLO Operations and Compliance Chuck Chakrala: Formerly with Sound Point Capital Management as global head of CLO and loan operations/analytics, Chakrala has also held CLO and credit-related roles at Sixth Street Partners, Pinebridge Investments, CSAM, CIFC Asset Management, and Citigroup.

Anthony Melchiorre, managing member of Chatham, stated: “CTM is a natural extension of our core business and will be incredibly additive to Chatham’s research process, providing us with insights into an expanded number of corporate issuers and helping our team to source attractive investment opportunities.”