Liquid Credit

Overview

Aquarian Liquid Credit (“ALC”) manages Aquarian’s liquid credit strategies across asset classes, including CLOs, rooted in bottom-up, fundamental credit analysis. The platform will harness the combination of prudent credit selection and the embedded optionality of CLO equity through different cycles.

ALC is backed by a strong belief that technology should be used to identify portfolio risk, provide transparency, and enhance investment performance.

looking through reflective glass into a meeting room

Asset Classes

High Yield
Bank Loans
CLOs

Liquid Credit Team

Kevin Raymond
Partner, Aquarian Liquid Credit

Kevin Raymond
Jeff Byrne
Head of Loan Trading, Aquarian Liquid Credit

Jeff
Byrne
Alex Lee
Head of Loan Operations, Aquarian Liquid Credit

Alex
Lee
Brandon Sanders
Head of Macro Research

Brandon Sanders
Kevin Raymond

Partner, Aquarian Liquid Credit

Kevin Raymond

Kevin Raymond serves as Partner and CLO Portfolio Manager for the Aquarian Liquid Credit team. Prior to joining Aquarian, Mr. Raymond served as Co-Portfolio Manager of CLO’s and Leverage Loans at Vibrant Capital Partners. In his role as Co-PM at Vibrant, he was responsible for managing over $5bn of CLO Assets and led the issuance of new CLO transactions.

Mr. Raymond originally joined Vibrant in 2016. Before that, he worked as a Credit Analyst at Guggenheim Partners where he led the Services and Leisure vertical for the integrated credit asset management platform.

Mr. Raymond earned his B.A. in Economics from Bowdoin College.

Jeff Byrne

Head of Loan Trading, Aquarian Liquid Credit

Jeff
Byrne

Jeff Byrne is a Partner and Head of Loan Trading at Aquarian Liquid Credit. Before joining Aquarian, he was Head of Loan Trading at Gallatin Loan Management. Previously, he was a Founding Partner and Trader at Hildene Leveraged Credit and held trading positions at Gleacher & Company and Z Capital Partners.

Mr. Bryne began his career in the Senior Loan Group at Van Kampen Investments and earned his BA from Villanova University. 

Alex Lee

Head of Loan Operations, Aquarian Liquid Credit

Alex
Lee

Alex Lee is a Partner and Head of CLO Operations/Compliance at Aquarian Liquid Credit. Before joining Aquarian, he served in the same capacity at Gallatin Loan Management and Hildene Leveraged Credit. He has additionally held roles in CLO compliance at Guggenheim Partners and Primus Asset Management. 

Mr. Lee earned his BS from Binghamton University.

Brandon Sanders

Head of Macro Research

Brandon Sanders

Brandon Sanders is a Head of Macro Research at Aquarian Liquid Credit. Prior to joining Aquarian, Mr. Sanders was a Partner at Gallatin Loan Management. Before that, he was an Investment Analyst at Elm Ridge Capital and served as Vice President of Restructuring at Greenhill & Co.

Mr. Sanders holds a BA from the University of Pennsylvania.  

Case Studies

Aquarian Credit Partners

Gallatin CLO VIII
Aquarian Credit Partners

Gallatin CLO X
Aquarian Credit Partners

Gallatin CLO XI
Aquarian Credit Partners

Investment-Grade CLO Tranches

Aquarian Credit Partners

Gallatin CLO VIII

In December 2021, Aquarian Credit Partners (ACP) came to market with the reset of 2017-vintage Gallatin CLO VIII. This CLO reset, including a LIBOR+1.09% AAA coupon and new reinvestment period, was backed by $483MM (initial target par) broadly syndicated, senior-secured loans and bonds. Gallatin VIII ended its reinvestment period in July 2023, just ahead of the launch of Gallatin CLO X. Through our CLO vehicles and other managed accounts, ACP actively invests across the universe of traded high-yield credit – loans, bonds, and CLO tranches.

Aquarian Credit Partners

Gallatin CLO X

In September 2023, ACP came to market with Gallatin X ($400MM initial target par), its first new issue CLO since 2018. Through our CLO vehicles and other managed accounts, ACP actively invests across the universe of traded high-yield credit – loans, bonds, and CLO tranches.

Aquarian Credit Partners

Gallatin CLO XI

In early 2024, Aquarian Credit Partners launched its fourth CLO, $400mm Gallatin XI via Jefferies. Through our CLO vehicles and other managed accounts, ACP actively invests across the universe of traded high-yield credit – loans, bonds, and CLO tranches.

Aquarian Credit Partners

Investment-Grade CLO Tranches

In September 2023, Aquarian Credit Partners (ACP) began actively investing in investment grade (IG) broadly-syndicated loan (BSL) CLO tranches in-house. Since then, ACP has directly purchased approximately $200mm of third-party IG BSL CLO tranches and continues to be an active buyer – from AAA to A, both floaters + fixed-rate bonds, across primary and secondary markets. Through our CLO vehicles and other managed accounts, ACP actively invests across the universe of traded high-yield credit – loans, bonds, and CLO tranches.

The contents of the webpages on www.aquarianlp.com are intended for the use of U.S. investors only. By clicking on this link, you acknowledge that you are entering a third-party website and may be entering another jurisdiction that has differing applicable securities laws that must be followed. Aquarian makes no representation that the contents of the site are appropriate for use in all locations, or that the transactions, securities, products, instruments or services discussed at this site are available or appropriate for sale or use in all jurisdictions or countries, or by all investors or counterparties. All persons and entities accessing this site do so on their own initiative and are responsible for compliance with applicable local laws and regulations. Nothing on this site shall be considered the provision of investment advice, or a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.

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The contents of the webpages on www.aquarianlp.com are intended for the use of U.S. investors only. By clicking on this link, you acknowledge that you are entering a third-party website and may be entering another jurisdiction that has differing applicable securities laws that must be followed. Aquarian makes no representation that the contents of the site are appropriate for use in all locations, or that the transactions, securities, products, instruments or services discussed at this site are available or appropriate for sale or use in all jurisdictions or countries, or by all investors or counterparties. All persons and entities accessing this site do so on their own initiative and are responsible for compliance with applicable local laws and regulations. Nothing on this site shall be considered the provision of investment advice, or a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.

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