Apidos to manage $1.3B in loans

Resource America Inc. said its Apidos Capital Management LLC subsidiary took over the management of four collateralized loan obligations worth $1.3 billion.

"Although these transactions that we will be assuming management of have experienced many challenges in this uncertain economic environment, we believe that we are very well-suited to maximize the returns for all investors," Gretchen Bergstresser, president and senior portfolio manager of Apidos, said in a news release.

Resource America is a Philadelphia specialty finance company that had $17.7 billion under management at the end of March.