CLO Strategy

Overview

The Avenue Collateralized Loan Obligation Strategy invests in companies with strong leadership, stable cash flow and improving credit performance.

As of June 30, 2010, the firm's assets under management allocated to the Avenue CLO Strategy were estimated to be approximately $1.2 billion.

Aproach
The strategy is actively managed, and the investments consist primarily of relatively liquid, large non-investment grade syndicated corporate loans.

The strategy generally targets companies with:

• Dominant market share
• Appropriate capital structure
• Significant asset/franchise value
• High industry barriers to entry
• Strong strategic sponsorship

Senior Management Team
The Avenue CLO Strategy is managed by a team of senior investment professionals who have spent virtually their entire careers in the distressed debt and securities or par loan markets. In addition, numerous investment professionals support the senior investment team.The senior management team includes: