Permira has priced its second US collateralised mortgage obligation (CLO) at $404m (£316.2m), lower than six months after launching its US-based CLO administration enterprise.
The choice asset supervisor is now managing €5.3bn of CLO property globally, comprising €4.6bn of property beneath administration in Europe and $800m within the US, upon closing of its newest automobile, dubbed Menlo II.
Menlo II follows the pricing of Menlo I, a $430.6m upsized transaction, in November 2024.
Permira’s US CLO administration enterprise, Menlo, follows the identical funding technique as its European CLO administration enterprise, Providus. It focuses on defensive portfolio development with a concentrate on resilient sectors akin to expertise, healthcare and enterprise companies.
Learn extra: Permira Credit score: Two paths for personal credit score in 2025
“The profitable pricing of our second CLO in america, at a time of serious market upheaval, displays clear recognition of our established funding technique and observe document,” mentioned Ariadna Stefanescu, head of liquid credit score at Permira Credit score.
“We consider there’s large alternative within the US credit score market and admire the continued help from all our buyers. We’re excited to proceed rising our liquid credit score platform on either side of the Atlantic.”
Permira’s credit score platform manages round €18bn of property and is at present investing in its fifth direct lending classic, which closed on €4.5bn of investable capital in 2023.
Learn extra: Permira Credit score sees pick-up in market exercise
