News Briefs

Sycamore Tree wraps up second CLO at $404.45m

STCP CLO 2's investors include banks, insurance companies and asset management firms.

-
  • Citibank Securities, NA acted as the fund’s underwriter with Dechert LLP providing counsel to Sycamore Tree
  • Sycamore Tree closed its first CLO, Sycamore Tree CLO 2021-1, Ltd., in November 2021
  • The alternative credit firm was founded by Mark Okada, Trey Parker and Jack Yang

Sycamore Tree Capital Partners has closed its second collateralized loan obligation at $404.45 million.

STCP CLO 2’s investors include banks, insurance companies and asset management firms.

Citibank Securities, NA acted as the fund’s underwriter with Dechert LLP providing counsel to Sycamore Tree.

Scott Farrell, managing director and head of structured credit, said in a statement, “We greatly appreciate such broad participation from the debt investor community for our second offering. Given our access to committed CLO equity capital, we expect to be a disciplined, repeat new issuer.”

This closing of STCP CLO 2 brings Sycamore Tree’s total assets under management to approximately $1.3 billion across its various credit strategies.

Sycamore Tree closed its first CLO, Sycamore Tree CLO 2021-1, Ltd., in November 2021.

Based in Dallas, Sycamore Tree Capital Partners specializes in alternative credit. It was founded by Mark Okada, Trey Parker and Jack Yang.