Credit Suisse Asset Management’s Credit Investments Group has closed its first collateralized loan obligation fund at $265 million. The Edition CLO Opportunity Fund invests in a portfolio of equity tranches of CLO transactions, equity in CLO warehouses, as well as CLO mezzanine and senior debt tranches. The fund invests across primary and secondary markets and in both the U.S. and Europe.
New York, October 20, 2020 | Credit Suisse Asset Management’s Credit Investments Group (“CIG”) today announced the final close of its Edition CLO Opportunity Fund (the “Fund”), CIG’s first collateralized loan obligation (“CLO”) equity focused fund, with USD 265 million in capital commitments.
The Edition CLO Opportunity Fund is a CLO fund that invests opportunistically in a diversified, actively managed portfolio of equity tranches of CLO transactions, equity in CLO warehouses, as well as CLO mezzanine and senior debt tranches. The Fund invests across primary and secondary markets, and in both the US and Europe.
Credit Suisse Asset Management’s CIG is led by Global Head and Chief Investment Officer, John G. Popp. The team has grown to be one of the largest and most experienced managers of leveraged finance debt in the industry, with over USD 60 billion in assets under management in non-investment grade credit strategies. CIG is one of the largest managers of CLOs globally with investment teams in New York and London. For more than 20 years, CIG has maintained a disciplined investment approach and demonstrated a strong track record through various market cycles.
Mr. Popp said, “As a pioneer in CLOs, we are pleased to close our first CLO equity focused fund. The successful fundraising is a testament to CIG’s unrivalled expertise and experience in the non-Investment Grade space, and speaks to our team’s strength in loans and structured credit, as well as significant, growing investor demand.”
Amir Vardi, Portfolio Manager and Head of Structured Credit in CIG at Credit Suisse Asset Management commented, “CLO equity is structured to provide stable equity distributions, an opportunity for upside to pre-Covid levels, and floating rate income in a low rate environment. As a dedicated CLO manager, we have the ability to leverage our expansive corporate credit research team and CLO structuring expertise to deploy capital opportunistically for our investors.”
This fundraising supports Credit Suisse Asset Management’s objective to provide differentiated investment opportunities to clients as a leading credit and specialized alternatives asset manager.