Sycamore Tree Capital Partners, a specialist asset manager with private and alternative credit investment expertise, closed its inaugural collateralized loan obligation, Sycamore Tree CLO 2021-1 (STCP CLO 1). The CLO totals $403.3 million, with Citibank Securities serving as the underwriter and Dechert acting as legal counsel to Sycamore Tree Capital Partners on the transaction.
STCP CLO 1 has a five-year investment period and invests in an portfolio of syndicated loans issued by U.S. companies across a range of industries. It is co-managed by Scott Farrell and Paul Travers, managing directors at Sycamore Tree Capital Partners. STCP CLO 1 investors include banks, insurance companies and investment managers.
“We appreciate the market’s reception to Sycamore Tree and our inaugural CLO,” Mark Okada, CEO of Sycamore Tree Capital Partners, said. “Our team brings several decades of combined experience managing CLOs, and we look forward to being a consistent issuer and strong steward of investor capital over time. In our view, the positive outlook for corporate credit and interest rate volatility make this a particularly attractive time to issue CLOs.”
“Sycamore Tree’s talented investment team, robust credit process and institutional quality infrastructure provide a strong foundation for managing risk and creating alpha,” Trey Parker, chief investment officer of Sycamore Tree Capital Partners, said. “We look forward to expanding our strong relationships within the investor and underwriting communities.”
