FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Deerpath Capital Closes 10th Collateralized Loan Obligation

April 23, 2024, 07:40 AM
Filed Under: Industry News

Deerpath Capital Management closed Deerpath CLO 2024-1, a $452.61 million collateralized loan obligation (CLO). This marks Deerpath's first new issuance CLO in 2024. Including a CLO reset and upsize in July 2023 and CLO 2023-2, this transaction represents the firm's tenth CLO over the past 6 years. Deerpath Capital is one of the largest providers of customized, cash-flow based senior debt financing to lower-middle market companies across North America.

Deerpath CLO 2024-1 brings the firm's total CLO assets under management to approximately $3.2 billion. Deerpath CLO 2024-1 is secured by a large and diversified portfolio of senior secured loans to middle market, private equity-backed companies. The loans in the portfolio have been primarily directly originated by the firm.

Deerpath sold securities rated from AAA through BBB- to third-party institutional investors, including insurance companies, pension funds, banks, and asset managers. As with its other CLOs, Deerpath's managed funds purchased 100 percent of the subordinated notes issued by the CLO. Deerpath CLO 2024-1 has a four-year reinvestment period.

Derek Dubois, Managing Director and Treasurer said, "Deerpath was able to continue to expand our investor base across the capital stack and work with a diverse group of new and existing investors.  Our CLO platform continues to allow our investors access to a differentiated investment strategy in the lower-middle market while enhancing our fund investor returns."

GreensLedge Capital Markets LLC served as Lead Placement Agent and Co-Structuring Agent along with KeyBanc Capital Markets.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.