Deerpath Capital Management has closed a $452.61m collateralised loan obligation (CLO 2024-1) – its tenth issuance in the past six years and the firm’s first new CLO this year, according to a report from ABL Advisor.
Deerpath provides cash flow-based senior debt financing to lower-middle market companies across North America. Its latest CLO brings the firm’s total CLO AUM to approximately $3.2bn.
CLO 2024-1 is secured by a large and diversified portfolio of senior secured loans to middle market, private equity-backed companies, while loans in the portfolio have been primarily directly originated by the firm.
Following the firm’s previous CLOs, Deerpath’s managed funds purchased 100% of the subordinated notes issued by the CLO. Deerpath’s CLO 2024-1 has a four-year reinvestment period.
GreensLedge Capital Markets served as lead placement agent and co-structuring agent alongside KeyBanc Capital Markets.
