Wellington Administration has raised $194m (£153.5m) on the remaining shut of its inaugural Wellington collateralised mortgage obligation (CLO) Companions Fund I.
The capital commitments, which embody $27m from associates, imply that the fund has exceeded its preliminary $150m goal.
The fund invests primarily in majority fairness tranches of Wellington-managed US broadly syndicated (BSL) CLOs.
Learn extra: CLO market sees sturdy begin to 2025
Wellington has $11.6bn in CLO debt and fairness property below administration, as a part of its already established credit score platform. As of 30 September 2024, Wellington has deployed three CLOs and plans to subject two to a few further offers per 12 months.
“We consider CLO fairness is a compelling asset class, and we anticipate additional alternatives to pursue funding excellence on behalf of LPs within the present and future market environments,” stated Alyssa Irving, CLO portfolio supervisor at Wellington Administration. “With this fund, we’re well-positioned to develop our platform and display our dedication to serving our shoppers as a CLO supervisor.”
Learn extra: Personal credit score CLOs within the US might overtake BSL CLOs
Wellington Administration manages greater than $1.2tn of property throughout fairness, fastened revenue, multi-asset, various and personal markets methods.
Learn extra: S&P predicts report US non-public credit score and mid-market CLO issuance in 2025