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Prudential Fixed Income Management has been selected to serve as replacement manager for Duane Street V CLO, a $490 million collateralised loan obligation. Prudential Fixed Income Management is the fixed income asset management business of Prudential Financial.The Duane Street V CLO has been renamed Gateway CLO Limited and represents the ninth portfolio for which Prudential Fixed Income Management is acting as replacement manager. The company currently manages 23 similar structured portfolios, including those issued directly by the company under the Dryden brand.”For the time being, the markets are still closed to new CLO transactions, so we remain focused on building our replacement business,” said Sara Bonesteel, Managing Director and Head of Prudential Fixed Income Management’s alternatives business.Prudential Fixed Income Management currently has about $9 billion in collateralised debt-related assets under management, with teams in Newark, N.J., and in London.