Investcorp bags $294m collateralized loan obligation

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Bahrain-based Investcorp closes 250 million euro collateralized loan obligation.

This transaction also represents the firm’s 17th “second-generation” European CLO since 2008, and brings total assets under management in European CLOs to over 7 billion euros.

This remains the largest European CLO issued year-to-date.

The latest CLO attracted interest from 19 external investors and is backed by a diversified portfolio of senior-secured leveraged loans across “defensive” industries such as services, healthcare, software and education.

Jeremy Ghose, Global Head of Investcorp Credit Management, said: “We believe the current environment offers attractive opportunities to invest in strong, performing assets at attractive levels. Following the final close of our Mount Row (Levered) Credit Fund in May, this brings total new AUM raised in 2020 year-to-date to $1.5 billion.”

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