LibreMax Capital acquired Trimaran Advisors, a US-based investment manager with expertise in managing collateralized loan obligations, from KCAP Financial Inc, for $37.9m in cash. Trimaran currently manages six CLOs with approximately $3 billion of assets under management. Following the close of the transaction, Trimaran’s Chief Investment Officer and head of its CLO platform, Dominick Mazzitelli, will continue to lead the business, supported by the existing management team. “Trimaran is a well-respected CLO manager with a seasoned team of investment professionals, whose strategy complements our deep structured credit expertise,” said Greg Lippmann, Chief Investment Officer of LibreMax. “The addition of Trimaran expands our core products — diversifying our platform and offering our investors access to an asset class that has performed well through various credit cycles.”