CVC Credit has priced its latest collateralized loan obligation at $508 million. Apidos XXXVI is CVC Credit’s third new CLO this year and will increase its assets under management to about $29 billion. Citigroup arranged the CLO.
NEW YORK – July 29, 2021 – CVC Credit is pleased to announce that it has priced Apidos XXXVI, a Collateralized Loan Obligation (“CLO”) fund totalling $508 million. This is third new CLO fund CVC Credit has priced globally this year and will increase its assets under management to approximately $29 billion.
Pro forma for Apidos XXXVI, CVC Credit’s global CLO assets under management will grow to approximately $20 billion. Arranged by Citigroup, the transaction was well-received by the market with market-tight debt execution and raised from a diverse base of both new and existing investors. Apidos XXXVI is primarily comprised of broadly syndicated First Lien Senior Secured Loans.
Kevin O’Meara, Partner and Portfolio Manager at CVC Credit, said: “We are pleased to have priced our second new U.S. CLO of 2021. The strong support from our new and existing investor base indicates their confidence in our platform and the opportunity set that continues to exist in the current market environment.”
Gretchen Bergstresser, Global Head of Performing Credit at CVC Credit, commented: “2021 is seeing considerable market activity and global demand and we are pleased to maintain our position as a leading market player. We expect these positive market trends to continue in the short to medium term and plan to continue to capitalize on the demand we are experiencing.”
About CVC Credit
CVC Credit is the credit management business of CVC. CVC Credit is a global credit asset manager with offices in the U.S. and Europe, over 60 investment professionals. CVC Credit seeks to generate for its investors positive absolute returns and attractive risk-adjusted returns on capital throughout the credit cycle. CVC Credit has built a diverse platform which creates significant synergies across its investment strategies. For further information please visit: www.cvc.com/credit.