CVC Credit prices seventh new CLO for this year at $504m

• Apidos XLVI will be the twelfth new CLO supported by CVC Credit’s CLO equity vehicle, CVC CLO Equity III
• CVC CLO Equity III recently closed at a hard cap of $800 million
• CVC Credit now manages total assets of $41 billion across its performing credit and private credit businesses

CVC Credit has priced its seventh new collateralized loan obligation for 2023 at $504 million.

Societe Generale was the lead arranger for Apidos XLVI.

Apidos XLVI will be the twelfth new CLO supported by CVC Credit’s CLO equity vehicle, CVC CLO Equity III, which invests in the majority equity investments in CVC-managed CLOs issued in the U.S. and Europe. CVC CLO Equity III recently closed at a hard cap of $800 million.

On the transaction, Gretchen Bergstresser, managing partner and global head of performing credit at CVC Credit, said in a statement, “We’re grateful for the strong support shown by both our new and returning investors in the continued expansion of CVC’s transatlantic platform, reflecting the positive growth trajectory our team has achieved in a challenging macroeconomic environment.”

CVC Credit now manages total assets of $41 billion across its performing credit and private credit businesses.

CVC Credit is the credit management business of CVC.