Latest news with #MarkHunt
Yahoo
24-04-2025
- Business
- Yahoo
Symetra Investment Management Closes Inaugural CLO with $408 Million
FARMINGTON, Conn., April 24, 2025--(BUSINESS WIRE)--Symetra Investment Management Company ("SIM" or the "Firm") today announced the closing of its inaugural Symetra CLO 2025-1, Ltd., a $408 million collateralized loan obligation (CLO) transaction. As of December 31, 2024, SIM manages approximately $79 billion in total assets. The launch of SIM's CLO platform is a key strategic initiative for the Firm and received strong third-party investor demand from a diverse group of leading global institutions across the rated notes. Mark Hunt, President, CEO, and CIO of SIM, said "SIM has been focused on the CLO market for years, and we are very pleased to have issued our first CLO with strong institutional support and an excellent investment management team. We expect to be a regular issuer in the CLO market going forward." "We greatly appreciate the strong support of investors and other institutional partners in the successful launch of our inaugural CLO," said Ken Yang, Senior Managing Director, Head of High Yield, Bank Loans and Structured Products. "This is a transitional time for markets where we see huge opportunities in bank loans, and we seek to construct portfolios that protect our investors through the CLO structure, from debt to equity." Symetra CLO 2025-1, Ltd. is backed by a portfolio of primarily senior secured loans, features a two-year non-call period and five-year reinvestment period, and was arranged by Morgan Stanley. SIM has significant experience and expertise in corporate and structured credit. The Firm's Senior Leadership team is highly experienced with an average of approximately 29 years of experience. The High Yield and Bank Loan team is currently comprised of 10 seasoned investment professionals and leverages the expertise and scale of SIM's dedicated CLO tranche investing platform. As of December 31, 2024, SIM's liquid fixed income business manages approximately $64 billion across corporate credit, ABS/RMBS/CMBS, CLOs, US and Foreign Government Bonds, Corporate Hybrids, Cash and other Short-Term Investments. Each fixed income investment strategy is led by an experienced sector head that is supported by portfolio managers, credit analysts, traders, portfolio specialist and other quantitative analysts. About Symetra Investment Management Founded in 2019, SIM is a registered investment advisor with approximately 150 employees. The Firm is headquartered in Farmington, Conn., and is solely owned by Symetra Financial Corporation. As of December 31, 2024, SIM manages approximately $79 billion in assets across Investment Grade Corporate Credit, High Yield, Bank Loans, Commercial Mortgage Loans, Private Placements, Structured Credit, and Alternatives. For more information, visit View source version on Contacts John Flynn, CFASenior Managing Sign in to access your portfolio
Business Wire
24-04-2025
- Business
- Business Wire
Symetra Investment Management Closes Inaugural CLO with $408 Million
FARMINGTON, Conn.--(BUSINESS WIRE)--Symetra Investment Management Company ('SIM' or the 'Firm') today announced the closing of its inaugural Symetra CLO 2025-1, Ltd., a $408 million collateralized loan obligation (CLO) transaction. As of December 31, 2024, SIM manages approximately $79 billion in total assets. 'SIM has been focused on the CLO market for years, and we are very pleased to have issued our first CLO with strong institutional support and an excellent investment management team," said Mark Hunt, President, CEO, and CIO of SIM. The launch of SIM's CLO platform is a key strategic initiative for the Firm and received strong third-party investor demand from a diverse group of leading global institutions across the rated notes. Mark Hunt, President, CEO, and CIO of SIM, said 'SIM has been focused on the CLO market for years, and we are very pleased to have issued our first CLO with strong institutional support and an excellent investment management team. We expect to be a regular issuer in the CLO market going forward.' 'We greatly appreciate the strong support of investors and other institutional partners in the successful launch of our inaugural CLO,' said Ken Yang, Senior Managing Director, Head of High Yield, Bank Loans and Structured Products. 'This is a transitional time for markets where we see huge opportunities in bank loans, and we seek to construct portfolios that protect our investors through the CLO structure, from debt to equity.' Symetra CLO 2025-1, Ltd. is backed by a portfolio of primarily senior secured loans, features a two-year non-call period and five-year reinvestment period, and was arranged by Morgan Stanley. SIM has significant experience and expertise in corporate and structured credit. The Firm's Senior Leadership team is highly experienced with an average of approximately 29 years of experience. The High Yield and Bank Loan team is currently comprised of 10 seasoned investment professionals and leverages the expertise and scale of SIM's dedicated CLO tranche investing platform. As of December 31, 2024, SIM's liquid fixed income business manages approximately $64 billion across corporate credit, ABS/RMBS/CMBS, CLOs, US and Foreign Government Bonds, Corporate Hybrids, Cash and other Short-Term Investments. Each fixed income investment strategy is led by an experienced sector head that is supported by portfolio managers, credit analysts, traders, portfolio specialist and other quantitative analysts. About Symetra Investment Management Founded in 2019, SIM is a registered investment advisor with approximately 150 employees. The Firm is headquartered in Farmington, Conn., and is solely owned by Symetra Financial Corporation. As of December 31, 2024, SIM manages approximately $79 billion in assets across Investment Grade Corporate Credit, High Yield, Bank Loans, Commercial Mortgage Loans, Private Placements, Structured Credit, and Alternatives. For more information, visit
Yahoo
13-03-2025
- Business
- Yahoo
Senate bill streamlines audits of volunteer fire departments
CHARLESTON — Volunteer fire departments in West Virginia are under the microscope in the current session of the West Virginia Legislature. The West Virginia Senate on Wednesday unanimously passed Senate Bill 500, giving the West Virginia Legislative Auditor "the authority and duty to make a regular review of the finances of each volunteer fire company" in the state. Under existing West Virginia law, both the Legislative Auditor and the State Auditor conduct rolling audits of each of the state's more than 400 volunteer fire departments. Customarily, the Legislative Auditor reviews only state funds a volunteer fire department received during a fiscal year, while the State Auditor reviews each department's entire finances. "Senate Bill 500 will eliminate this unnecessary overlap making the process more efficient and removing the burden of duplicative financial examinations by multiple state agencies," State Auditor Mark Hunt said. Although SB 500 consolidates the audits of volunteer fire departments with the Legislative Auditor, existing state Code will remain unchanged as to the requirement that audits or financial examinations "shall be scheduled as to complete a review of each volunteer fire company at least once every five years." Hunt credited State Sen. Laura Chapman, R-Ohio County, for sponsoring the bill and bringing the issue before the Legislature. "Under current law, which will remain unchanged, the scope of the audits will include all income of the volunteer fire departments, regardless of the source of funds, the assets, liabilities, and all expenditures of the departments," Chapman said. "Likewise, current law also provides that our volunteer fire departments may be audited more than once in a five-year period if there is reason to think that loss, mismanagement, misuse, or waste of funds is occurring." In those instances, SB 500 would require the Legislative Auditor — "upon discovering any concerning or suspicious financial transactions" — to report the matter to the State Auditor's Office "to investigate and pursue correction or prosecution … of any misconduct, mismanagement, misuse, or waste." Senate Bill 500 now goes to the West Virginia House of Delegates for consideration and passage. The Legislature's 60-day regular session concludes on April 12.
