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Pine Brook to acquire CLO manager Triumph Capital

Pine Brook Road Partners is acquiring Triumph Capital Advisors, a manager of syndicated bank loans with a focus on collateralized loan obligations, from its parent, Triumph Bancorp, confirmed Douglas Allen, Pine Brook spokesman.

The deal is expected to close in the first half of the year.

“The implementation of risk retention has increased capital requirements for CLO managers, creating a need for strong management teams to attract significant amounts of equity capital,” said Bharath Srikrishnan, managing director of Pine Brook in a joint news release. “Pine Brook was formed for exactly this reason: to provide management teams with the capital they need to build their businesses.”

Triumph has $1.5 billion under management; Pine Brook Partners has about $6 billion in assets.