The TCW Group, a global asset management company, closed a $400 million collateralized loan obligation (CLO) fund, TCW CLO 2023-2, which is secured primarily by broadly syndicated first lien loans.
CLOs are managed within TCW’s $70 billion integrated global credit platform, and this CLO will be managed by senior portfolio managers Drew Sweeney and Ken Toshima.
“CLOs and loans broadly are an important area of growth for TCW, and we are committed to continuing to enhance our leveraged finance franchise as part of our broad offering of world-class fixed income products,” Katie Koch, president and CEO of TCW, said. “Over the past few years, we have continued to invest in our credit capabilities across the capital structure through the addition of top talent in both research and trading.”
“TCW CLO 2023-2 represents TCW’s 10th actively managed CLO, and we plan to prioritize loans and dedicate resource to ensure that the TCW loan platform obtains top tier status in the marketplace,” Sweeney said. “We were pleased to have had the opportunity to ramp collateral during the last several months, and are grateful for the confidence investors continue to place on our disciplined process and approach.”
Jefferies served as placement agent and structuring agent.
