Sycamore Tree Capital Partners, a specialist asset manager with private and alternative credit investment expertise, closed STCP CLO 2023-3 (STCP CLO 3), the firm’s third collateralized loan obligation since inception and the firm’s second CLO in 2023.
STCP CLO 3 totals $401 million and received broad support from the investor community including banks, insurance companies and asset management firms. The fund has a three-year reinvestment period and a one-year non-call period. Goldman Sachs acted as the fund’s underwriter, and Dechert acted as counsel to Sycamore Tree.
“CLO 3 continues our focus on higher quality, more liquid, broadly syndicated US loans across a wide range of industries,” Trey Parker, chief investment officer of Sycamore Tree Capital partners, said. “Our focus on capital preservation is well suited to current market conditions and given our access to committed CLO equity capital, we expect to be a disciplined, consistent new issuer.”
Having launched four distinct investment strategies to date and with deep prior experience providing customized solutions, the Sycamore Tree’s total AUM is now approximately $1.6 billion.
