LONDON--(BUSINESS WIRE)--European credit investment firm AlbaCore Capital Group (“AlbaCore”), announced the pricing of its second Collateralized Loan Obligation (“CLO”), AlbaCore Euro CLO II, an upsized €408,350,000 CLO with environmental, social and governance (“ESG”) eligibility criteria in the documentation.
In line with its first CLO that priced last year, AlbaCore Euro CLO II incorporates negative ESG screening criteria that is combined with AlbaCore’s fundamental research and risk focused ESG considerations, including restrictions on the industry type in which the CLO can invest.
Arranged by Barclays Bank PLC, the fund is expected to close in May 2021 and is subject to customary closing conditions. The collateral manager of AlbaCore Euro CLO II is AlbaCore Capital LLP.
Deborah Cohen Malka, Managing Director at AlbaCore Capital Group, commented:
“We are delighted to have launched our second CLO following on from the success of the first, reinforcing our commitment to our CLO platform. Our CLO strategy is underpinned by AlbaCore’s active and fundamental approach to credit investing, with ESG risk screens integrated into every investment decision.”
David Allen, Chief Investment Officer at AlbaCore Capital Group, added:
“This is another great achievement for AlbaCore and a testament to the proven ability and hard work across the team. Continuing to build our CLO business reflects the opportunities available in the current climate as we seek to provide solutions for our investor partners across the credit spectrum.”
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About AlbaCore Capital Group
AlbaCore Capital Group is one of Europe’s leading specialist credit investors focusing on public and private corporate credit markets. The senior investment team have been investing with this hybrid strategy for over a decade1. Founded in 2016, AlbaCore has invested over $16bn2 across 280 companies for global pension funds, sovereign wealth funds, consultants, insurance companies, family offices and endowments.
AlbaCore is focused on consistently outperforming the market in the long term while protecting investor capital. The credit selection process is based on fundamental research with a focus on capital preservation, ESG factors and risk-adjusted returns.
Headquartered in London and with an office in Dublin, AlbaCore has a partnership approach with values at the center of the AlbaCore community.
1 Including period prior to AlbaCore at the Canada Pension Plan Investment Board (“CPPIB”).
2 Invested capital is the sum of all 'buy' trades for all AlbaCore mandates since inception to 31 December 2020, and includes recycled capital and co-investment.