The TCW Group, a global asset manager, closed a $400 million collateralized loan obligation (CLO). The CLO, TCW CLO 2024-3, is secured primarily by broadly syndicated first-lien loans and is TCW’s third new issue CLO close in 2024.
“TCW continues to make significant investments in its credit capabilities across both public and private markets,” Jerry Cudzil, fixed income generalist portfolio manager of TCW, said. “We are pleased to have top-tier partners that have helped accelerate the growth of our CLO business and expect to establish additional equity partnerships in 2025.”
TCW now manages 13 CLOs with over approximately $5.4 billion of dedicated CLO assets under management. In addition, TCW recently launched a dedicated CLO exchange-traded fund, the TCW AAA CLO ETF (Ticker: ACLO), that provides investors the opportunity to invest in AAA CLOs through an ETF.
“Over the course of 2024, we have seen heightened capital markets activity across our CLO platform which has included three new issues, two CLO resets and two refinancings,” Drew Sweeney, senior portfolio manager of TCW, said. “We expect to see strong growth in our CLO platform over the coming years and are grateful for the confidence investors place in our process and approach.”
Jefferies served as placement agent and structuring agent.
