CVC Credit closes second CLO fund at $400m

Together, the two funds total $720m (€630m) of new issuance, taking CVC Credit Partners’ CLO assets globally to approximately $15.8bn. European CLO AUM now stands at around $6.3bn, the firm said.

Gretchen Bergstresser, global head of performing credit at CVC Credit Partners, said: “Pricing and closing two CLOs in such quick succession is a great result, and all the more impressive in the context of the challenging economic conditions of the past few months. Both US and European raisings have been a real team effort with our New York and London-based teams working simultaneously across both CLOs.”

 Adipos XXXIII is comprised primarily of broadly syndicated first lien senior secured loans and was arranged by Goldman Sachs. Cordatus XVII is CVC Credit’s first European CLO closed this year and was arranged by Natixis.