PPM America raises $300m for latest CLO

This is PPM’s sixth CLO since the firm re-entered the CLO market in 2018, and the twelfth CLO in the firm’s history.

  • CLO 6 is managed by a PPM subsidiary
  • PPM America Inc has $70.07 billion in assets under management as of September 30, 2022
  • PPM is an indirect, wholly owned subsidiary of Jackson Financial Inc

PPM America has closed its latest CLO at $300 million.

This is PPM’s sixth CLO since the firm re-entered the CLO market in 2018, and the twelfth CLO in the firm’s history.

CLO 6 is managed by a PPM subsidiary, PPM Loan Management Company 2, LLC, a registered investment adviser.

“During a period of rising rates and market volatility, we are proud to have been able to close a deal with 17 investors, many of whom are new to PPM’s CLO platform,” said James Damron, senior managing director and head of CLO Management at PPM in a statement. “Pricing and closing CLO 6 in a challenging market environment with ongoing investor concerns further supports the ability and strength of PPM’s CLO platform and our relationships with current and new investors.”

Founded in 1990, PPM America Inc has $70.07 billion in assets under management as of September 30, 2022. PPM is an indirect, wholly owned subsidiary of Jackson Financial Inc, a retirement services provider.