NEW YORK - New York Life Investment Management LLC (NYLIM) today announced the closing of a $618 million collateralized loan obligation (CLO).  A CLO is a securitized pool of assets primarily composed of non-investment grade floating rate bank loans. 

The NYLIM Flatiron CLO 2006-1 Ltd. (or “Flatiron 2006”), underwritten by Citigroup Corporate and Investment Banking, is managed by NYLIM's Fixed Income Investors Group.  With this closing, NYLIM now manages six collateralized debt obligations (CDO) representing over $2.3 billion in assets, including four CLOs totaling approximately $1.7 billion.  

“With a favorable market for CLO issuance, a vehicle like Flatiron 2006 provides investors with efficient structures and execution.  We were pleased by the strong investor interest in this deal and gratified by the substantial support demonstrated by our many repeat investors,” said Robert Dial, managing director and head of NYLIM’s leveraged loan team. 

A leading loan manager, NYLIM oversees more than $4 billion in a variety of portfolios including institutional accounts, mutual funds, and CLOs.  For more information on NYLIM’s CDO business, please visit http://www.nylim.com/nylimcdo.

With more than $205 billion in assets under management as of June 30, 2006, New York Life Investment Management LLC and its affiliates provide investment management and related services to a wide range of individual, corporate, public, and Taft-Hartley clients. NYLIM offers institutional asset management, retail investments, retirement plan services, guaranteed products, real estate investments, and alternative investments. For more information, visit NYLIM’s website at www.nylim.com.