On November 5, 2015, Conning Inc. announced that it had agreed to acquire New York-based Octagon Credit Investors LLC.
Octagon Credit Investors LLC (“Octagon”) is a credit investment firm that manages $12.8 billion in assets through its various investment vehicles, which include collateralized loan obligations, bank loans and high yield bonds.
Octagon will operate as a subsidiary of Conning Inc. (“Conning”) following the closing of the transaction. It will be managed by its own Board of Directors, and Octagon’s CEO, Andy Gordon, will maintain his title and role with the company. Octagon’s existing investment and business teams will also remain in place following the closing.
Broadhaven Capital Partners served as financial adviser to Conning. The parties expect the transaction to close in early 2016 pending regulatory approvals and closing conditions.
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