CVC Credit Partners closes CLO Apidos XXXIII on $400m

Apidos XXXIII was arranged by Goldman Sachs.

CVC Credit Partners closed Apidos XXXIII, a CLO totaling $400 million. This is the second CLO CVC Credit closed in the last few months, following Cordatus XVII in June. The two CLOs totaled $720 million. Apidos XXXIII was arranged by Goldman Sachs.

Press Release

CVC Credit Partners (“CVC Credit”) is pleased to announce that it has closed Apidos XXXIII, a Collateralized Loan Obligation (“CLO”) fund totalling $400 million. This is the second CLO fund CVC Credit has closed in the last month, following the closing of Cordatus XVII in June. Together these funds total $720 million (€630 million) of new issuance and increase CVC Credit Partners global CLO asset under management to approximately $15.8 billion.

Adipos XXXIII, was arranged by Goldman Sachs and is CVC Credit’s second new-issue to close in the U.S. in 2020. As with previous Apidos CLOs, the fund is primarily comprised of broadly syndicated First Lien Senior Secured Loans.

Cordatus XVII is a €290 million European focused CLO arranged by Natixis. This was CVC Credit’s first European CLO closed in 2020, having completed three in 2019. European CLO assets under management now stand at c.$6.3 billion.

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 U.S. and European raisings have been a real team effort with our New York and London based teams working simultaneously across both CLOs.”

About CVC Credit Partners
CVC Credit Partners is the credit management business of CVC. CVC Credit Partners is a global credit asset manager with offices in the U.S. and Europe, 60 investment professionals and US$26 billion assets under management, as at 31 March 2020.

CVC Credit Partners seeks to generate for its investors positive absolute returns and attractive risk-adjusted returns on capital throughout the credit cycle.

CVC Credit Partners has built a diverse platform which creates significant synergies across its three investment strategies: Performing Credit, Credit Opportunities & Special Situations and Private Debt. For further information about CVC Credit Partners please visit: www.cvc.com/credit.