CVC Credit, the €40bn global credit management business of CVC, has closed Cordatus XXX, its third new collateralised loan obligation (CLO) of 2024. The new vehicle totals €400m and brings CVC’s aggregate value of newly priced CLOs in 2024 to €1.4bn.
Cordatus XXX was raised from a broad group of new and existing blue chip investors. Goldman Sachs acted as the lead arranger.
The majority equity portion for CVC Credit’s new CLOs are made from a dedicated CLO equity vehicle, which enhances CVC Credit’s ability to control the pace of new CLO issuance and enhances its flexibility to price opportunistically, rather than relying on third-party CLO equity.
