Deerpath Capital Management, a private credit manager in the U.S. lower-middle market, closed Deerpath CLO 2025-1, a $653.50 million collateralized loan obligation.
Deerpath CLO 2025-1 brings the firm’s total CLO assets under management to approximately $3.9 billion and marks Deerpath’s sixteenth CLO to date.
This marks the third CLO transaction of 2025 for the firm, which reset Deerpath CLO 2023-1 and reset and upsized Deerpath CLO 2021-2 earlier this year. This brings total issuance in 2025 to over $1.6 billion. Deerpath CLO 2025-1 is secured by a large and diversified portfolio of senior secured loans to middle-market, private equity-backed companies. As part of this transaction, Deerpath redeemed its 2020-1 transaction, a $403 million transaction that was reset in 2023.
Deerpath sold securities rated from AAA through BBB- to third-party institutional investors, including pension funds, banks and asset managers, and saw significant interest in the Asia Pacific region. The transaction closed on Sept. 30, 2025, and the reinvestment period runs to Oct. 15, 2029.
“Deerpath has continued to access the CLO market in 2025 with a steady cadence of transactions while expanding its investor base globally and refinancing more expensive liabilities,” Derek Dubois, managing director and treasurer of Deerpath, said. “The strong demand we saw, underscores the breadth of our platform and the confidence global investors place in our strategy.”
GreensLedge Capital Markets served as the lead placement agent.
