The TCW Group, a global asset management company, closed its second $400 million collateralized loan obligation (CLO) fund this year, TCW CLO 2024-2, which is secured primarily by broadly syndicated first-lien loans.
The close of TCW CLO 2024-2 follows on TCW CLO 2024-1, a $400 million CLO that closed in February 2024. TCW now manages 12 CLOs within the firm’s leading $52 billion integrated global credit platform.
“We see increasing demand from investors for a range of alternative credit products, including CLOs, to add diversified return streams in their portfolios,” Jerry Cudzil, fixed income generalist portfolio manager of TCW, said. “TCW’s growth in alternative credit is a natural extension of our industry-leading credit capabilities across the capital structure, which includes a significant leveraged finance platform.”
TCW CLO 2024-2 will be led by senior portfolio managers Drew Sweeney and Ken Toshima.
“This deal brings TCW’s CLO AUM to $5 billion, and we are gratified to be recognized as a top tier CLO manager by our investors,” Sweeney said.
Jefferies served as placement agent and structuring agent.
