CVC Credit prices second new CLO in a month

Apidos XLI (41) is the fifth new CLO priced by CVC’s $34 billion Credit platform this year

NEW YORK & LONDON--(BUSINESS WIRE)--CVC Credit is pleased to announce that it has priced Apidos XLI (41), a Collateralized Loan Obligation (“CLO”) fund totalling c.$500m, arranged by Societe Generale. This is the fifth new issue CLO priced by CVC Credit’s transatlantic performing credit platform this year, which together have an aggregate value of over $2.4bn (c.€2.3bn).

Apidos XLI will increase CVC Credit’s global AUM to over $34 billion (€32 billion). The transaction has been structured with a five-year reinvestment period and was well received by both existing and new investors. As with previous Apidos funds, Apidos XLI is primarily comprised of broadly syndicated First Lien Senior Secured Loans.

Cary Ho, Partner and Global Head of CLO origination for Performing Credit at CVC Credit, said: “We are delighted to price our latest US CLO. We have continued to generate strong momentum and realize solid performance from our CLO issuance over the first half of 2022, even during a challenging market environment characterized by fluctuating spreads and increased market volatility.”

Gretchen Bergstresser, Partner and Global Head of Performing Credit at CVC Credit, added: “The successful pricing of Apidos XLI reflects our active pace of issuance across today’s global CLO markets and disciplined approach to investment. We appreciate the unwavering support shown by our investors and look forward to the exciting opportunities ahead for our global Performing Credit strategy.”

About CVC Credit
CVC Credit is the credit management business of CVC. CVC Credit is a global credit asset manager with offices in the U.S. and Europe, more than 60 investment professionals and €32 billion assets under management. The platform seeks to generate for its investors positive absolute returns and attractive risk-adjusted returns on capital throughout the credit cycle. CVC Credit has built a diverse business which creates significant synergies across its investment strategies. For further information about CVC Credit please visit:  https://www.cvc.com/credit/overview. Follow us on LinkedIn.