Finland’s Mandatum Asset Management Explores Debut Euro CLO Issuance

Reporting: Victoria Thiele
Mandatum Asset Management, the investment firm headquartered in Helsinki, is holding preliminary talks with investors about a potential new CLO platform, according to sources.

The process began late last year and is in the early stages, the sources said.

A spokesperson for Mandatum Asset Management declined to comment.

Mandatum Asset Management was created in 2021 and is part of the Mandatum Group alongside its sister business Mandatum Life Insurance Co. The firm invests in European broadly syndicated loans under head of leveraged finance Alexander Gallotti.

Mandatum was part of Nordic insurance group Sampo until its demerger in 2023. As of the end of 2024, it had €14 billion of client assets under management.

Several other prospective CLO managers are working toward their entry into the European market. Earlier this year, LGT Capital Partners mandated Deutsche Bank to arrange its first deal. Royal London Asset Management opened a warehouse with Goldman Sachs.

Others, including Rokos Capital Management and Scottish Widows, are still in exploratory stages.

The recent volatility may have slowed down some processes, market sources suggested. Bankers told Octus that placing the triple-A tranche is currently a challenge even for established issuers.

This could drive newcomers toward arrangers with the ability to buy triple-A tranches, said a banker at a house that does not offer this service.