Berkshire Global Advisors acted as Financial Advisor to Gulf Stream Asset Management

  • Date: October 2023
  • Sector: Private Markets
  • Sub-Sector: CLOs | Private Credit
  • Region: Americas
  • Seller AUM: $2.8 billion

Seller Details

First established in 2002, Gulf Stream Asset Management (“Gulf Stream”) is an investment management firm and SEC-registered investment advisor. The firm invests primarily in US-based broadly syndicated leveraged loans and has a successful track record of managing 24 CLO vehicles, including SMAs, for the world’s leading institutional investors.

Buyer Details

Redding Ridge Asset Management (“Redding Ridge”) is an independently managed affiliate of Apollo (NYSE: APO), specializing in CLO management and structured credit partnership investments. Since its establishment in 2016, Redding Ridge has managed five of the top 10 highest-performing US CLOs of all time. The firm employs a disciplined, credit-first investment philosophy and is focused on consistent portfolio management, structuring and strategic execution.

Transaction Summary

With the close of the transaction, Redding Ridge will have more than $26 billion of AUM and expects a seamless integration of the contracts and to actively manage the new portfolios consistent with its disciplined CLO strategy. This is the second portfolio acquisition of CLO management contracts by affiliates of Apollo from Gulf Stream, stemming from a long-standing relationship and aligned investment philosophy.


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