Willow Tree Credit score Companions has introduced the closing of its second collateralised mortgage obligation (CLO) at $502.3m (£406.97m).
The Willow Tree CLO II closed inside two months of Willow Tree’s first CLO, in direction of the top of final yr. Each CLOs deal with center market direct lending within the US.
The CLO will likely be managed by Willow Tree and all the fairness pursuits will likely be retained by its second managed fund complicated.
Learn extra: Moody’s: Center-market CLO issuance on the rise
“The issuance of two center market CLOs late in 2024 represents a key milestone within the growth of our platform,” mentioned Jim Roche, Willow Tree’s chief credit score officer.
“We’re grateful for the assist of all the present and new traders which have made this attainable.”
GreensLedge Capital Markets served as the only placement and structuring agent, whereas Dechert offered authorized illustration for Willow Tree.
“We prolong thanks as properly to GreensLedge and Dechert for all their endeavours towards this accomplishment,” added Roche.
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“We anticipate the profitable placement of rated debt securities by a BBB- layer for each CLOs to materially profit our investor base.
“It’s a testomony to the efforts of our staff towards constructing a top quality center market direct lending portfolio and represents an thrilling product line extension alternative for our agency.”
Since its inception in 2017, Willow Tree has accomplished greater than 100 transactions by its managed funds and accounts, by specializing in the acquisition and progress of center market corporations within the US.
Learn extra: Crestline Traders closes $1bn direct lending CLO