London-based alternative credit manager Alcentra has secured US$1bn in new equity commitments across its CLO strategies.
The proceeds will be mostly invested in CLO mezzanine and equity via the firm’s third-party CLO tranche investing platform.
A portion of the capital will form part of Alcentra’s second captive European CLO equity fund, contributing to approximately $4bn of AuM in European CLOs over the next three years.
Alcentra, which is wholly-owned by California-based asset manager Franklin Templeton, currently manages over $18 billion across European loans, European CLO issuance and global third-party CLO tranches, via its European Liquid Credit and Structured Credit businesses.
“We have seen a resurgence in the popularity of CLOs among major institutional investors over the past six months,” said Cathy Bevan, Head of Structured Credit and PM at Alcentra.
“The track record of our global structured credit business, the set-up of our team across US and Europe and our ability to be dynamic means we are very well positioned to capitalise on growing appeal of the asset class.”
