CLO
Management

Investment Philosophy

Capital
Preservation Conservative
Risk Profile Active Portfolio
Management Disciplined & Diversified
Portfolio Construction

Investment
Philosophy

Minimize credit loss, remain income focused, maintain sales discipline on signs of weakness

Industry leading focus with defensible market positions

Proper risk/reward profile

Ability to say “No”

Identify early market trends, continuous evaluation of relative value, portfolio review from both top-down and bottom-up, selective opportunistic investments

Maintain portfolio diversity, monitor issuer and industry concentration, align portfolio with macroeconomic and market views

CLO
Management

Partner with management teams in North America and Europe who thrive across market cycles; taking a differentiated approach to risk mgmt. and process based decision-making.

CLO / Leverage Loan Team

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Serhan Secmen

Global Head of CLO Management Platform

Serhan Secmen is a Senior Managing Director and Head of Global CLO Platform at Napier Park Global Capital (“Napier Park”). Napier Park separated from Citigroup’s alternative investment arm, Citi Capital Advisors (“CCA”), in February 2013. Prior to joining Citi Capital Advisors in August 2008, Serhan was a CLO trader at Lehman Brothers. Prior to his post at Lehman Brothers, he spent several years in Texas as a project manager focusing on special project financing. During his tenure at Napier Park, Serhan has assisted in the development of multiple proprietary analytics systems and has been influential in the various strategies and methodologies for analyzing CLOs and other structured products. Since 2006, Serhan has also been involved in various industry forums and networks, including the investor roundtables for Moody's, S&P, and Fitch Ratings. He frequently appears as a speaker at multiple industry conferences and panels. Serhan holds an MBA degree from Wharton School of Business, an MS degree from Texas A&M University, and a BS degree from Bogazici University in Turkey.

Michael Micko

Head of European Credit

Michael Micko is a Senior Managing Director and the Head of European Credit Strategies at Napier Park Global Capital (“Napier Park”). Napier Park separated from Citigroup’s alternative investment arm, Citi Capital Advisors (“CCA”), in February 2013. Michael joined CCA in August 2004, bringing approximately 15 years of relevant experience to the team. Prior to joining CCA, Michael headed high yield at Mellon Newton Investment Management. Previously, Michael was an investment banker at Deutsche Bank and Bankers Trust International focusing on Leverage Finance, and he also held the role as Treasurer of a listed corporate high yield issuer. Michael has a MBA from The Richard Ivey School in Canada (1991), has attended London Business School, and holds ME (Industrial Engineering) (1988) and BS (Electrical Engineering) (1987) degrees from the University of Alberta, Canada.

Daniel Slotkin

Global CLO Portfolio Manager

Daniel Slotkin is a Senior Managing Director and Global CLO Portfolio Manager at Napier Park. Napier Park separated from Citigroup’s alternative investment arm, Citi Capital Advisors (“CCA”), in February 2013. Daniel Slotkin joined Citi in 1991 and prior to joining Citi Capital Advisors’ Leveraged Loan Investments team in 1998, Daniel worked in the Airlines Asset Distribution Department, Capital Markets Origination, Leveraged Loan Structuring and in the Relationship Management areas of Citi’s corporate bank. During his tenure in Leveraged Loan Investments, Daniel has led bank loan trading, portfolio strategy, loan workouts and worked as a credit analyst. He earned his Bachelor of Arts degree from the University of Florida.

Julia He

Head of European CLO Business Dev & Head of European Credit Research

Julia He is a Senior Managing Director and Head of European CLO Business Development and European Credit Research at Napier Park Global Capital. Prior to joining the team in July 2004, Julia worked for Alcentra Ltd (formerly Barclays Capital Asset Management), in London, where she was an analyst focusing on high yield, stressed and distressed debt for CDO portfolios. Julia started her career at HSBC in China in 1995 as a corporate banking analyst and subsequently worked in the Treasury Department at Dow Chemical (China). Julia holds a B.A. in Economics and International Finance from Shanghai Jiao Tong University in China (1995) and an M.B.A. from City University Business School in London (2000).

Mohammed El Khazzar

Senior Managing Director

Mohammed El-Khazzar is a Senior Managing Director and Portfolio Manager for European Credit Strategies at Napier Park. Mohammed joined from AXA Investment Managers in Paris where he worked in the structured finance division as a credit analyst focusing on the leveraged loans market. His responsibilities at AXA included providing trading ideas in primary and secondary markets as well as portfolio monitoring. Prior to joining AXA IM, Mohammed spent two years as an auditor at Deloitte in Casablanca where he serviced a large number of clients in different industries. Mohammed holds a Masters Degree in Finance and Strategy from Sciences Po Paris (2008).

Melanie Hanlon

Senior Managing Director

Melanie Hanlon is a Senior Managing Director and Head of Credit Research at Napier Park Global Capital. Melanie Hanlon joined Citi in September 1999 and was part of Citi Capital Advisors’ (“CCA”) Leveraged Loan Investments team since 2001. Before joining CCA, Melanie was a Director with Bank of Montreal's Asset Portfolio Management group. Earlier positions include a relationship manager with Societe Generale and a credit analyst with NationsBank. Melanie holds a BS in Accounting and an MBA with a double major in Finance and Management from New York University.

Batur Bicer

Managing Director

Batur Bicer is a Portfolio Manager focusing on investment strategies related to structured credit products in both cash and synthetic markets at Napier Park Global Capital (“Napier Park”). Napier Park separated from Citigroup’s alternative investment arm, Citi Capital Advisors (“CCA”), in February 2013. Prior to CCA, Batur served two years as Vice President at Goldman Sachs as a Credit Strategist covering primarily credit derivative products where he was responsible for recommending trade ideas and providing quantitative solutions for both internal and external clients. Prior to Goldman Sachs, Batur worked as a Credit Strategy Research Analyst for five years at Barclays Capital where he published weekly reports on the structured credit market. Batur has also been involved in various industry forums and networks, including the investor roundtables for different ratings agencies. He frequently appears as a speaker at multiple industry conferences and panels. Batur has a PhD degree in Operations Research and Financial Engineering from Princeton University and a BS from Bogazici University.

Robert O’Brien

Managing Director

Robert O’Brien is a Managing Director and is the senior leveraged loan trader at Napier Park. Bob joined Citi Capital Advisors’ (“CCA”) Leveraged Loan Investments team in 2003. Prior to joining CCA, Bob worked as a Research Associate in Bear Stearns’ High Grade Research department in the Financial Institutions group. Bob graduated from Boston University with a BS in Business Administration.

Scott Lorinsky

Managing Director and Deputy General Counsel

Scott Lorinsky is a Managing Director and Deputy General Counsel at Napier Park Global Capital (“Napier Park”). Napier Park separated from Citigroup’s alternative investment arm, Citi Capital Advisors, in February 2013. At Napier Park, Scott is responsible for legal matters across the platform, with specific focus on Napier Park’s European Credit Products and CLOs, including Regatta Loan Management, a capitalized manager vehicle established to address risk retention rules. Prior to joining Citigroup in 2005, Scott was a senior associate at Latham & Watkins, specializing in leveraged loan and asset securitizations. Prior to Latham & Watkins, Scott was a senior associate at Simpson Thacher & Bartlett focusing on corporate finance. Scott received his A.B., cum laude, from Duke University and his J.D. from Columbia Law School.

Evan X. Odim, Sr.

Managing Director

Evan X. Odim, Sr. is a Managing Director and Head of Napier Park’s US CLO portfolio operations team. Previously, Evan was a Credit Trader in the Relative Value/Credit Strategies group at Citi Principal Strategies (“CPS”). CPS was a proprietary trading portfolio which focused on long/short credit, tranches, options and cross asset trading. Evan’s earlier experience included a position with the Credit team at Old Lane, a multi-strategy hedge fund, and part of the Operations group at Fore Research & Management, a credit hedge fund. Evan holds a BBA in Information Systems & Management from the University of Wisconsin. Evan serves as a mentor to a young professional who he met through StreetWise Partners, a nonprofit organization dedicated to creating employment opportunities for individuals from historically overlooked and under-resourced communities.

Lawrence O

Managing Director

Lawrence (Larry) O joined Napier Park through its transition from Citi Capital Advisors (“CCA”), which he joined in 2008. Larry currently serves as a Managing Director and investment analyst in the US Credit Research group. Prior to joining CCA, Larry worked at KBC Alternative Investments, where he was the senior credit analyst for KBC’s multi-strategy platform since 2003. Prior to joining KBC, Larry worked at Bank of America Securities as a Vice President and distressed research analyst covering special situations and ‘busted’ convertible bonds from 1999 through 2003. His career began in 1996 with Chase Securities as a high yield desk analyst after completing Chase’s Investment Banking Analyst Program. Larry holds a BE degree in Civil Engineering from The Cooper Union for the Advancement of Art and Science.

Joseph Riggi

Managing Director

Joe joined is a Managing Director at Napier Park in New York where he serves as an investment professional focused on stressed credit investing across all major sectors. Joe joined Napier as part of the spin out from Citi Capital Advisor’s (“CCA”) in February 2013. During his tenure at Napier, Joe has been an investment analyst with both the CLO and Stressed Credit teams. Prior to CCA, Joe worked at Carlton Hill Global Capital as a Portfolio Analyst. Joe was responsible for structured credit modeling and portfolio analytics for a first loss tranche investment vehicle. Joe received his BS from Seton Hall University where he majored in Finance and is a CFA charterholder.

Wolfgang Dressler

Managing Director

Wolfgang Dressler is a Managing Director for European Credit Strategies at Napier Park Global Capital, responsible for the product management, business development, strategic planning, client relations and marketing. Wolfgang works closely with the portfolio managers in building out existing business channels, while identifying new strategic initiatives within European credit markets. Prior to joining in 2021, he spent more than 6 years in the alternatives product team at PIMCO in London and previously worked for UBS in Zurich. He holds a B.A. in Political Science and Economics from the University of Mannheim and a M.Sc. in European Political Economy from the London School of Economics and Political Science.

Shachar Minkove

Managing Director

Shachar Minkove is a Managing Director with over 20 years of experience investing in credit and special situations. Shachar joined Napier Park in 2013 and is currently an investment analyst focused on Energy, Industrials, Metals & Mining, Paper & Packaging, and Power. Prior to joining Napier Park he worked as an analyst at Perry Capital and BNP Paribas. Shachar started his career at JP Morgan where he spent 12 years in various groups including High Yield Research, Proprietary Trading, and the Loan and Distressed Trading Group. Shachar graduated with honors from Yeshiva University.

Abraham Saldivar

Managing Director

Abe Saldivar joined Napier Park in 2015 and is a Managing Director in the US Credit Research group focusing on Autos, Building Materials, and Chemicals. Abe started his career at Morgan Stanley, and was there for 7 years in various groups including Leveraged Finance (Global Capital Markets), Investment Banking, and Sales & Trading. Prior to joining Napier Park, Abe worked as a Par Loan & Distressed Research Analyst at Morgan Stanley. Abe earned his double BBA from St. Mary’s University (Texas).

Ryan Olsen

Managing Director

Ryan Olsen is a Managing Director and investment analyst focusing on strategies related to structured credit products at Napier Park Global Capital (“Napier Park”). Prior to joining Napier Park in June 2014, Ryan was an analyst at Citigroup Global Markets within Citi Investment Research and Analysis (“CIRA”) where he focused on the structured credit strategy. Prior to his role with CIRA, Ryan spent a year with CitiFX Quantitative Investor Solutions developing fundamental and technical systematic currency trading strategies. Ryan graduated Summa Cum Laude with a BA degree from the University of Colorado at Boulder.

Kevin Lam

Director

Kevin Lam, CFA is an investment analyst and has over 10 years of Fixed Income and Credit Investing experience. Prior to joining Napier Park, Kevin worked as a Credit Analyst at Fitch Ratings, an Investment Banking Associate at Bank of America Merrill Lynch, and as a High Yield Credit Analyst at MetLife Investments. Kevin earned his BBA from Pace University and an MBA from The Darden School of Business at the University of Virginia.

Stephen McCall

Director

Stephen McCall CFA, is an investment analyst and has 7 years of Fixed Income and Credit Investing experience. Prior to joining Napier Park, Stephen worked as a Desk Research Analyst at SunTrust Robinson Humphrey. Stephen earned both his BA and MSF from the University of Florida.

Timo Seidl

Managing Director

Timo Seidl is a Managing Director and Portfolio Manager for European Credit Strategies at Napier Park Global Capital. Prior to joining Napier Park, Timo worked for Goldman Sachs in London, where he was part of the CLO Origination and Alternative Capital Raising team. He focused on structuring and distributing European warehouses and CLOs and also worked on Capitalized Manager Vehicle (CMV) and other private fund raises. Timo holds a BSc in Mathematics and Economics from Ludwig Maximilian University Munich (2013) and a MSc in Applied and Computational Mathematics from the Royal Institute of Technology in Stockholm (2016).

Diarmuid Curran

Director

Diarmuid Curran is a Junior Portfolio Manager for European Credit Strategies at Napier Park Global Capital. Diarmuid joined from Assured Investment Management (formerly known as BlueMountain Capital Management) in London where he worked in the European CLO team from the inception of Assured’s European CLO business. His responsibilities at Assured Investment Management included trading, credit underwriting and portfolio management for the European CLOs. Diarmuid holds a First-Class Honors Degree in Economics from Durham University (2012).

Federico Della Torre

Director

Federico Della Torre is a Director and an Investment Analyst for European Credit Strategies at Napier Park Global Capital. Prior to joining Napier Park, Federico worked for Citigroup for 6 years, where he was a senior associate in the Leveraged Finance team and advised corporate and financial sponsor clients on origination, structuring and execution of high yield bond and leveraged loan debt for LBO, M&A, carve-out and refinancing transactions across Europe and emerging markets. Federico started his career in the investment banking graduate programme at Citigroup. He holds a BSc (First) in Economics and Finance (2011) and a Master of Science in Finance (2013) from Bocconi University in Milan.

CLO Deals

Sort by Status:

Regatta XXVIII Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 4/19/24
Size at Issuance ($mm): 400mm

Status: Active

Henley CLO X DAC

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 5/30/24
Size at Issuance ($mm): 450mm EUR

Status: Active

Regatta XXVI Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 12/12/23
Size at Issuance ($mm): 413mm

Status: Active

Regatta XXVII Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 3/15/24
Size at Issuance ($mm): 400mm

Status: Active

Regatta XXV Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: June 29, 2023
Size at Issuance ($mm): 400

Status: Active

Henley CLO IX

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 2 December 2022
Size at Issuance ($mm): Target Par: €300m

Status: Active

Regatta XXII Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 16 June 2022
Size at Issuance ($mm): 500

Status: Active

Henley CLO VII

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 22 April 2022
Size at Issuance ($mm): Target Par: €400m

Status: Active

Regatta XIX Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 29 March 2022
Size at Issuance ($mm): 500

Status: Active

Regatta XXIV Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 30 December 2021
Size at Issuance ($mm): 500

Status: Active

Regatta XXIII Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 16 December 2021
Size at Issuance ($mm): 500

Status: Active

Henley CLO VI

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 10 December 2021
Size at Issuance ($mm): Target Par: €400m

Status: Active

Regatta XXI Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 14 October 2021
Size at Issuance ($mm): 400

Status: Active

Henley CLO V

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 3 September 2021
Size at Issuance ($mm): €372MM, Target Par: €400MM

Status: Active

Regatta XX Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 15 September 2021
Size at Issuance ($mm): 500

Status: Active

Henley CLO II

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 16 June 2021
Size at Issuance ($mm): Target Par: €400m

Status: Active

Regatta XVIII Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 31 March 2021
Size at Issuance ($mm): 550

Status: Active

Henley CLO IV

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 19 March 2021
Size at Issuance ($mm): Size of liabilities: €407, Target Par: €400m

Status: Active

Regatta XVII Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 10 December 2020
Size at Issuance ($mm): 350

Status: Active

Henley CLO III

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 15 December 2021
Size at Issuance ($mm): Size of liabilities: €353, Target Par: €400m

Status: Active

Regatta XVI Funding Ltd.

Collateral Manager: Regatta Loan Management LLC
Closing Date: 19 December 2019
Size at Issuance ($mm): 600

Status: Active

Regatta XII Funding Ltd.

Collateral Manager: Regatta Loan Management LLC
Closing Date: 15 October 2021
Size at Issuance ($mm): 400

Status: Active

Henley CLO I

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 29 July 2021
Size at Issuance ($mm): Size of liabilities: €406.2m, Target Par: €400m

Status: Active

Regatta XV Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 25 October 2018
Size at Issuance ($mm): 600

Status: Active

Regatta XIV Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 13 September 2018
Size at Issuance ($mm): 690

Status: Active

Regatta XIII Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: 16 July 2018
Size at Issuance ($mm): 565

Status: Active

Regatta XI Funding Ltd.

Collateral Manager: Regatta Loan Management LLC
Closing Date: 26 June 2018
Size at Issuance ($mm): 500

Status: Active

Regatta X Funding Ltd.

Collateral Manager: Regatta Loan Management LLC
Closing Date: Dec 2017
Size at Issuance ($mm): 534

Status: Active

Regatta VIII Funding Ltd.

Collateral Manager: Regatta Loan Management LLC
Closing Date: Sep 2017
Size at Issuance ($mm): 512

Status: Active

Regatta IX Funding Ltd.

Collateral Manager: Regatta Loan Management LLC
Closing Date: May 2017
Size at Issuance ($mm): 406

Status: Active

Regatta VII Funding Ltd.

Collateral Manager: Regatta Loan Management LLC
Closing Date: Oct 2016
Size at Issuance ($mm): 407

Status: Active

Regatta VI Funding Ltd.

Collateral Manager: Regatta Loan Management LLC
Closing Date: May 2016
Size at Issuance ($mm): 411

Status: Active

Regatta V Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: Nov 2014
Size at Issuance ($mm): 515

Status: Matured

Regatta IV Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: Jun 2014
Size at Issuance ($mm): 627

Status: Matured

Regatta III Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: Mar 2014
Size at Issuance ($mm): 492

Status: Matured

Regatta II Funding LP

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: Feb 2013
Size at Issuance ($mm): 415

Status: Active

Duane Street IV

Collateral Manager: NPGC
Closing Date: Aug 2007
Size at Issuance ($mm): 495

Status: Matured

Regatta I Funding Ltd.

Collateral Manager: Napier Park Global Capital (US) LP
Closing Date: Mar 2007
Size at Issuance ($mm): 760

Status: Matured

Duane Street III

Collateral Manager: NPGC
Closing Date: Dec 2006
Size at Issuance ($mm): 550

Status: Matured

Duane Street II

Collateral Manager: NPGC
Closing Date: Jul 2006
Size at Issuance ($mm): 430

Status: Matured

Duane Street I

Collateral Manager: NPGC
Closing Date: Oct 2005
Size at Issuance ($mm): 350

Status: Matured

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CLO Management

Investment Philosophy

Investment Philosophy

CLO Management

CLO / Leverage Loan Team

Serhan Secmen

Global Head of CLO Management Platform

Michael Micko

Head of European Credit

Daniel Slotkin

Global CLO Portfolio Manager

Julia He

Head of European CLO Business Dev & Head of European Credit Research

Mohammed El Khazzar

Senior Managing Director

Melanie Hanlon

Senior Managing Director

Batur Bicer

Managing Director

Robert O’Brien

Managing Director

Scott Lorinsky

Managing Director and Deputy General Counsel

Evan X. Odim, Sr.

Managing Director

Lawrence O

Managing Director

Joseph Riggi

Managing Director

Wolfgang Dressler

Managing Director

Shachar Minkove

Managing Director

Abraham Saldivar

Managing Director

Ryan Olsen

Managing Director

Kevin Lam

Director

Stephen McCall

Director

Timo Seidl

Managing Director

Diarmuid Curran

Director

Federico Della Torre

Director

Serhan Secmen

Global Head of CLO Management Platform

Michael Micko

Head of European Credit

Daniel Slotkin

Global CLO Portfolio Manager

Julia He

Head of European CLO Business Dev & Head of European Credit Research

Mohammed El Khazzar

Senior Managing Director

Melanie Hanlon

Senior Managing Director

Batur Bicer

Managing Director

Robert O’Brien

Managing Director

Scott Lorinsky

Managing Director and Deputy General Counsel

Evan X. Odim, Sr.

Managing Director

Lawrence O

Managing Director

Joseph Riggi

CLO
Management

Investment
Philosophy

CLO
Management