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When European CLO liabilities spiked following the UK’s LDI crisis in 2022, Rome-headquartered P&G SGR was quick to capitalise on the opportunity with the launch of the Zoo 5 Triple A CLO fund, which used financial leverage to further boost returns for its stakeholders.

In this latest Q&A session, LFI spoke to P&G’s fund managers Luca Pantaloni and Melania Fiscina about the fund’s returns, their decision to liquidate the fund ahead of schedule, and what’s next on the agenda for the team within the CLO universe.

 

LFI: What was the focus of P&G’s Zoo 5 fund?

 

Luca: Zoo 5 was an Italian closed-end reserved alternative investment fund (AIF), which launched in December 2022 to capture alpha opportunities in the European Triple A CLO market. This followed the volatility triggered by…

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