Post Advisory Group to Launch CLO Business

New hire Bill Lemberg to lead collateralized loan obligation strategy

LOS ANGELES--()--Post Advisory Group, a multi-strategy asset management firm majority-owned by Principal Financial Group, announced today its intention to build a collateralized loan obligation (CLO) management business led by newly hired Bill Lemberg. Lemberg recently joined Post from Alcentra Group where he was a managing director and head of Alcentra’s US Loan business.

Post has grown its assets under management significantly over the last three years – from less than $10 billion in 2014 to approximately $17 billion today. The addition of CLOs builds on Post’s current investment expertise and product offerings.

We are excited to partner with Bill Lemberg to start and grow a CLO management business at Post,” said Henry Chyung, chief investment officer of Post. “Adding CLO management capabilities to our platform is a natural extension of our existing investment strategies and leverages our deep credit culture and experienced investment team.”

Previously, Lemberg managed more than $8 billion in senior loan investments for Alcentra, including $4 billion in CLOs. He has more than 25 years of experience in the leveraged finance business.

I’m delighted to join Post, with its long and successful track record of managing high yield bonds and senior loans, as well as its strong investment team and credit culture,” said Lemberg, managing director and portfolio manager at Post. “Post and its shareholders have committed significant resources to launching this initiative, and I look forward to building the CLO business with this strong foundation already in place.”

Principal, a financial services company with retirement, insurance and asset management solutions, is committed to helping Post build out the CLO offering and growing the firm.

Post has proven success in investing in high quality businesses and delivering strong investment performance across high yield bonds and senior loans, especially during significant market volatility,” said Tim Dunbar, chief investment officer for Principal. “We look forward to working closely with Post on this latest strategic venture.”

About Post Advisory Group

Founded in 1992, Post Advisory Group is a leading multi-strategy, value-oriented asset manager specializing in global high yield bonds and senior loans. Post currently manages approximately $17 billion of assets on behalf of institutional investors around the world, including corporate and government pension funds, insurance companies, sovereign wealth funds, foundations and endowments, as well as high net worth individuals. Post is majority owned by Principal Global Investors, a member of Principal Financial Group (a Fortune 500 company), with a minority equity stake held by Nippon Life Insurance Company, one of Japan’s largest insurance companies. Certain senior investment professionals of Post have been awarded a significant minority interest in the firm.

About Principal®

Principal helps people and companies around the world build, protect and advance their financial well-being through retirement, insurance and asset management solutions that fit their lives. Our employees are passionate about helping clients of all income and portfolio sizes achieve their goals — offering innovative ideas, investment expertise and real-life solutions to make financial progress possible. To find out more, visit us at principal.com.

Principal, Principal and symbol design and Principal Financial Group are trademarks and service marks of Principal Financial Services, Inc, a member of the Principal Financial Group.

Contacts

Principal
Media Contact:
Jane Slusark, 515-362-0482
Slusark.jane@principal.com

Release Summary

Post Advisory Group announces its intention to build a collateralized loan obligation management business.

Contacts

Principal
Media Contact:
Jane Slusark, 515-362-0482
Slusark.jane@principal.com