Key Takeaways
- • MetLife Investment Management (MIM) announced the close of Galaxy 38 CLO, Ltd., a $450 million target par new issue collateralized loan obligation.
- • PineBridge Investments, part of MIM, serves as collateral manager, with BofA Securities, Inc. acting as arranger.
- • Galaxy 38 is the 45th CLO issuance by the Leveraged Finance team, which has managed CLOs since 1999.
- • As of June 30, 2026, PineBridge managed $26.0 billion in leveraged finance assets, including $12.8 billion in CLO assets under management.
- • MIM reported $748.1 billion in total assets under management as of June 30, 2026.
Summary
MetLife Investment Management (MIM), the institutional asset management arm of MetLife, Inc. (NYSE: MET), announced the close of Galaxy 38 CLO, Ltd. (Galaxy 38), a $450 million target par new issue collateralized loan obligation, according to a Business Wire release dated September 16, 2026.
PineBridge Investments, which is part of MIM, serves as collateral manager for the transaction, and BofA Securities, Inc. acted as arranger. The deal marks the 45th CLO issuance by the Leveraged Finance team, which the release says has built a long-standing track record in the CLO market and has managed CLOs since 1999 through a global platform with investment professionals in the United States and Europe. The team covers U.S. and European loans, high-yield bonds and CLOs.
Kevin Wolfson, U.S. CLO and leveraged loan portfolio manager, said Galaxy 38 "marks another important milestone for MIM's CLO platform and reflects the consistency of our approach," citing disciplined portfolio construction and fundamental credit selection. Dan Sherry, U.S. CLO portfolio manager, said reaching the 45th issuance reflects the depth of experience the team has built over many years and that the team is well positioned by drawing on the broader resources of the MIM platform.
As of June 30, 2026, PineBridge Investments managed $26.0 billion in leveraged finance assets, including $12.8 billion in CLO assets under management across PineBridge-managed CLOs and CLO tranche investments. MIM reported total assets under management of $748.1 billion as of the same date.
MetLife, Inc. is one of the world's leading financial services companies, founded in 1868, with operations in more than 40 markets.
PineBridge Investments, which is part of MIM, serves as collateral manager for the transaction, and BofA Securities, Inc. acted as arranger. The deal marks the 45th CLO issuance by the Leveraged Finance team, which the release says has built a long-standing track record in the CLO market and has managed CLOs since 1999 through a global platform with investment professionals in the United States and Europe. The team covers U.S. and European loans, high-yield bonds and CLOs.
Kevin Wolfson, U.S. CLO and leveraged loan portfolio manager, said Galaxy 38 "marks another important milestone for MIM's CLO platform and reflects the consistency of our approach," citing disciplined portfolio construction and fundamental credit selection. Dan Sherry, U.S. CLO portfolio manager, said reaching the 45th issuance reflects the depth of experience the team has built over many years and that the team is well positioned by drawing on the broader resources of the MIM platform.
As of June 30, 2026, PineBridge Investments managed $26.0 billion in leveraged finance assets, including $12.8 billion in CLO assets under management across PineBridge-managed CLOs and CLO tranche investments. MIM reported total assets under management of $748.1 billion as of the same date.
MetLife, Inc. is one of the world's leading financial services companies, founded in 1868, with operations in more than 40 markets.
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