Firm Description
PineBridge Investments is the trade name given to the global asset management business of
PineBridge Investments, L.P., a Cayman Islands limited partnership (“PILP”), which is a majority-
owned subsidiary of Pacific Century Group (“PCG”), an Asia-based private investment group. As a
global firm, PineBridge Investments has over 60 years of experience in emerging and developed
markets. In the United States (“U.S.”), PineBridge Galaxy LLC (“PBG LLC” or “Collateral Manager”)
operates as a member company of PineBridge Investments (the “Firm”).
PBG LLC is an investment adviser that performs investment management functions, including,
without limitation, directing the investment and reinvestment of Collateralized Loan Obligations
(“CLOs”) and holds, manages, and disposes of investments in accordance with the criteria set forth in
the respective collateral management agreements and offering documents.
Principal Owners
PBG LLC is a Delaware limited liability company that is a wholly owned subsidiary of PineBridge
Investments LLC, a Delaware limited liability company. PineBridge Investments LLC is a wholly
owned subsidiary of PineBridge Holdings US LLC (“PineBridge Holdings”), also a Delaware limited
liability company. PineBridge Holdings is a wholly owned subsidiary of PILP. The general partner of
PILP is Bridge Holdings Company Limited (“Bridge Holdings”). Bridge Holdings is wholly owned by
Pacific Century Investment Holdings No. 1 Limited (“PCIH No. 1”). PCIH No. 1 is wholly owned by
ChiltonLink Limited, which, in turn, is wholly owned by Richard Li.
Types of Advisory Services
PBG LLC provides investment advisory services to investment vehicles, primarily CLOs (“Clients”), on
a discretionary basis. PBG LLC’s Clients pursue primarily U.S. and European leveraged and
performing credit strategies (such as broadly syndicated bank loans, secured and leveraged loans,
floating rate loans, second lien loans and high-yield bonds).
PBG LLC applies fundamental credit research analysis and a proactive
management style to identify
the most compelling opportunities in the credit markets and seeks to maximize total returns and
manage portfolio risk. PBG LLC provides investment advisory services under the terms of the
collateral management agreement and an indenture for each CLO. PBG LLC negotiates these
documents, which set forth the specific services that will be provided by PBG LLC, with Clients before
commencing an advisory relationship.
Each of the CLOs that PBG LLC advises can impose limitations on the types of loans, securities and
other instruments in which each CLO is permitted to invest. In particular, each CLO for which PBG
LLC provides investment advisory services is governed by an indenture that places significant
restrictions on the types of loans, securities and other instruments that can be purchased on behalf of
the CLO.
Affiliates
The Firm seeks to share its global capacities across legal entities in order to deliver better service to
Clients. PBG LLC uses the services of appropriate personnel of its affiliates for certain supporting
functions which can include, from time to time: research and analysis; operations support; data
systems; trading; legal and compliance support; accounting, payroll, tax, and budgeting;
administrative services, including human resources support; corporate, marketing and public
relations; information and technology services, infrastructure and support; corporate services support,
including facilities; risk management and internal audit; investment advice; client servicing; and/or any
other services reasonably requested and agreed to by the affiliates, except to the extent that such
activity is restricted by the Client in or pursuant to its governing documents, or is inconsistent with
applicable law. Arrangements among affiliates take the form of a formal sub-advisory agreement or a
staff and services agreement.
Client Assets
As of December 31, 2023 (rounded to the nearest $1.00):
Discretionary: $2,083,715,880
Non-Discretionary: $0
Total: $2,083,715,880