CVC Credit priced Apidos XXXVI, a collateralized loan obligation fund totalling $508 million. This is the third new CLO fund CVC Credit has priced globally this year and will increase its assets under management to approximately $29 billion.
Pro forma for Apidos XXXVI, CVC Credit’s global CLO assets under management will grow to approximately $20 billion. Arranged by Citigroup, Apidos XXXVI is primarily comprised of broadly syndicated first lien senior secured loans.
“We are pleased to have priced our second new U.S. CLO of 2021,” Kevin O’Meara, a partner and portfolio manager at CVC Credit, said. “The strong support from our new and existing investor base indicates their confidence in our platform and the opportunity set that continues to exist in the current market environment.”
“2021 is seeing considerable market activity and global demand and we are pleased to maintain our position as a leading market player,” Gretchen Bergstresser, global head of performing credit at CVC Credit, said. “We expect these positive market trends to continue in the short to medium term and plan to continue to capitalize on the demand we are experiencing.”
