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Alternative Market Briefing

Credit Suisse Asset Management closes Edition CLO Opportunity Fund on $265m

Wednesday, October 21, 2020

Bailey McCann, Opalesque New York:

Credit Suisse Asset Management's Credit Investments Group has closed its Edition CLO Opportunity Fund with $265 million in capital commitments. This is CIG's first CLO equity focused fund.

The Edition CLO Opportunity Fund is a CLO fund that invests in a portfolio of equity tranches of CLO transactions, equity in CLO warehouses, as well as CLO mezzanine and senior debt tranches. The fund invests in both primary and secondary markets in the US and Europe.

"CLO equity is structured to provide stable equity distributions, an opportunity for upside to pre-Covid levels, and floating rate income in a low rate environment," said Amir Vardi, Portfolio Manager and Head of Structured Credit in CIG at Credit Suisse Asset Management of the new fund. The Edition fund builds on CIG's existing portfolio of CLO vehicles.

Credit Suisse Asset Management's CIG is led by Global Head and Chief Investment Officer, John G. Popp and is one of the largest managers of CLOs globally with over $60 billion of assets under management.

The fundraise follows on the heels of news from last month that CIG entered into a strategic partnership with the Qatar Investment Authority (QIA) to form a multibillion dollar direct private credit platform that will provide financing to upper middle-market and larger companies in the US and Europe. The financing will come in the form of secured first and second lien loans. The partnership builds on QIA's inte......................

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