Deerpath raises $375m for latest CLO

Deerpath Capital Management has closed its latest collateralized loan obligation at $375 million. Deerpath CLO 2022-1 is backed by a portfolio of senior secured loans to middle-market, private equity-backed companies. It is the firm’s fifth CLO since 2018. GreensLedge Capital Markets LLC was lead placement agent, structuring agent and bookrunner while Raymond James served as co-placement agent. Deerpath provides senior debt financing to lower-middle market companies.

PRESS RELEASE

NEW YORK, May 9, 2022 /PRNewswire/ — Deerpath Capital Management, LP, one of the largest providers of customized, cash-flow based senior debt financing to lower-middle market companies across North America, today announced the closing of Deerpath CLO 2022-1, a $375 million collateralized loan obligation (CLO).

Deerpath CLO 2022-1 represents the fifth CLO issued by Deerpath since 2018 and brings the firm’s total CLO assets under management to approximately $1.8 billion. Similar to its existing CLOs, Deerpath CLO 2022-1 is secured by a portfolio of senior secured loans to middle market, private equity-backed companies, which have been primarily directly originated by the firm.

Deerpath sold securities rated from AAA through BBB- to third-party institutional investors, including insurance companies, pension funds, banks, and asset managers. Deerpath’s managed funds purchased 100 percent of the subordinated notes issued by the CLO. Deerpath CLO 2022-1 has a three-year reinvestment period.

Derek Dubois, Managing Director and Treasurer said, “As a result of strong originations throughout 2021 and 2022, we were able to issue our fifth middle market CLO. Through our programmatic CLO issuance, we continued to shift loan assets into sturdier and efficient financing, all while navigating an especially turbulent market.”

GreensLedge Capital Markets LLC served as Lead Placement Agent, Structuring Agent and Bookrunner. Raymond James served as Co-Placement Agent.

About Deerpath Capital Management, LP
Founded in 2007, Deerpath Capital Management, LP is one of the largest providers of customized, cash-flow based senior debt financing to lower-middle market companies across diverse industries. For more information, please visit www.deerpathcapital.com.