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CVC Credit closes third CLO equity vehicle at $800m

CVC Credit, the $41bn global credit management business of CVC, has held the final close of CVC CLO Equity III at its hard cap with $800 million of commitments, which will support over $10 billion of global CLO issuance for CVC Credit’s Performing Credit platform.

CVC Credit, the $41 billion global credit management business of CVC, has held the final close of CVC CLO Equity III at its hard cap with $800 million of commitments, which will support over $10 billion of global CLO issuance for CVC Credit’s Performing Credit platform.

CVC CLO Equity III is CVC Credit’s third dedicated CLO equity vehicle and represents a significant increase over CVC Credit’s prior raises. It will be used to make equity investments in CVC-managed CLOs issued in the US and Europe. In aggregate, CVC Credit has now raised $1.66 billion of capital across its three CLO equity funds.

Since December 2020, CVC Credit’s assets under management have grown from $28 bn (€23bn) to $41 bn (€38bn).
 
CLO Equity III is expected to support more than 20 new CLO issuances for CVC Credit’s management platform. To date the vehicle has funded 11 new transactions with an aggregate value of $4.8 billion (€4.6bn).
 
CVC was advised by Paul Hastings LLP.

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