CVC Credit prices seventh new CLO of 2023

NEW YORK--(BUSINESS WIRE)--CVC Credit, the $41 billion global credit management business of CVC, is pleased to announce that it has priced Apidos XLVI (46) a $504 million (c.€453 million) Collateralized Loan Obligation ("CLO"). Societe Generale acted as lead arranger.

This is CVC Credit’s seventh new CLO priced globally this year, which together have an aggregate value of $3.1 billion (c.€3 billion).

Apidos XLVI will be the twelfth new CLO supported by CVC Credit’s dedicated CLO equity vehicle, CVC CLO Equity III, which invests in the majority equity investments in CVC-managed CLOs issued in the US and Europe. CVC CLO Equity III recently announced its final close at its hard cap with $800 million of commitments. Across its period of deployment, this equity strategy is intended to support over $10 billion of global CLO issuance for CVC Credit’s Performing Credit platform.

Cary Ho, Partner and Global Head of CLO origination for Performing Credit at CVC Credit, said: “We remain dedicated to assembling high-quality portfolios and attractive yields to our investors throughout business cycles. This is the fourth new US CLO vehicle we have priced this year and our seventh globally, a result we could not have achieved without the strong support of the market and the investors of CVC CLO Equity III, which recently closed with $800 million of commitments.”

Gretchen Bergstresser, Managing Partner and Global Head of Performing Credit at CVC Credit, commented: “We’re grateful for the strong support shown by both our new and returning investors in the continued expansion of CVC’s transatlantic platform, reflecting the positive growth trajectory our team has achieved in a challenging macroeconomic environment.”

CVC Credit now manages total assets of $41 billion (€38bn) across its Performing Credit and Private Credit businesses.

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 €38 billion assets under management. The platform seeks to generate for its investors 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.