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Direct Investment  + M&As  |  November 7, 2024
Beach Point CLO Management LLC - $450M
By: Joe Palmisano

Beach Point Completes Majority Refinancing of $450M Sandstone Peak CLO 

Beach Point CLO Management LLC, an affiliate of Beach Point Capital Management LP, completed a majority refinancing of Sandstone Peak Ltd., Beach Point’s first Collateralized Loan Obligation (CLO), with a target par of $450 million. As part of the refinancing, the non-call period was extended to January 15, 2026, for the Class A-1 shares, and October 15, 2026, for the Class A-2, B-1 and D shares. 

“In our view, the CLO market is attractive right now, particularly for investors who emphasize bottom-up credit analysis with a focus on downside protection. We look forward to continuing to build on the strong momentum of this deal in our entire CLO platform,” said Beach Point portfolio manager and head of high yield and leveraged loan strategies, Sinjin Bowron. 

Santa Monica-based Beach Point manages three CLOs totaling over $1.25 billion. The majority refinancing of Sandstone Peak Ltd. marks Beach Point’s first completed CLO refinancing. Beach Point has been an active investor in leveraged loans since its inception in 2009. 

The multi-strategy investment manager oversees approximately $17 billion in assets under management within private equity, credit, real estate and structured product investments. 

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Beach Point CLO Management LLC

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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