- Announcement follows pricing of Permira Credit’s debut US CLO, Menlo CLO I
- AuM for global CLO management platform to reach €4.7bn
- Global credit AuM for Permira to reach approximately €17bn
London – 25 November 2024 - Permira, the global investment firm, today announces the pricing of PROVIDUS CLO XI (“Providus XI”), a €406.6 million European collateralised loan obligation transaction (“CLO”).
This marks the 11th CLO from the firm’s European CLO management platform, Providus, and follows the pricing of its debut US CLO, MENLO CLO I, on the same day. Total AuM for Permira’s global CLO management platform will reach €4.7bn upon closing of both transactions.
Ariadna Stefanescu, Co-Head of Permira Credit and Head of Liquid Credit, said: “We are thrilled to have priced our third new issue CLO of 2024, following the pricing of Providus X in March and the recent news of our first US CLO. The Providus platform in Europe continues to deliver strong, risk-adjusted returns to investors and this latest pricing further demonstrates the resilience of our established investment strategy. We’re looking forward to the Providus platform going from strength to strength, and to growing the US platform going forward.”
The Providus CLO management platform remains committed to its investment strategy focused on a credit-led approach; resilient portfolio construction in sectors such as technology, healthcare and business services; active portfolio management; and responsible investing.
Providus XI will, as with all other CLOs within Permira’s global CLO management platform, contain specific ESG eligibility criteria in the documentation, which include restrictions on the nature of industries in which the CLO can invest, building upon Permira’s leading reputation as the first European CLO manager to include ESG negative screening language with Providus CLO I in 2018.
The pricing is subject to customary closing conditions. The collateral manager of Providus XI is Permira European CLO Manager LLP.
