Overview
Flatiron RR LLC, Manager Series (the “Adviser” or the “Firm”) is a recently formed investment
advisory firm founded in March 2021. The Adviser is a series of Flatiron RR LLC (the “Series
LLC”). The Adviser is indirectly wholly-owned by New York Life Insurance Company (“New
York Life”).
The Adviser provides discretionary management services as collateral manager to Collateralized
Loan Obligations (“CLOs”). Each CLO invests in a diversified pool consisting primarily of loans
and, in some cases as permitted by applicable law, bonds and other obligations. The terms upon
which the Adviser serves as collateral manager to a CLO are tailored and governed by the CLO
documentation. Investors do not have the right to restrict the investment objectives or
investment strategies of a CLO, except with respect to certain
rights as expressly permitted by
the CLO documentation. The Series LLC also has a series named Flatiron RR LLC, Retention
Series, which will be used to hold interests in a CLO necessary to comply with the risk retention
requirements in the European Union and the United Kingdom.
The Adviser employs a team-oriented approach to managing each CLO. Using a combination of
top-down fundamental analysis and bottom-up credit research, the Adviser seeks to construct
diversified portfolios designed to deliver consistent performance and stability in accordance with
the CLO documentation. This is accomplished by striving to add incremental excess return
while avoiding principal loss.
As of December 31, 2023, the Adviser managed $399,157,104 on a discretionary basis, and no
assets on a non-discretionary basis.