Deerpath Capital Closes Ninth Collateralized Loan Obligation
NEW YORK, Dec. 19, 2023 /PRNewswire/ — Deerpath Capital Management, LP announced the closing of Deerpath CLO 2023-2, a $353.65 million collateralized loan obligation (CLO). This marks Deerpath’s second new issuance CLO in 2023. Including a CLO reset and upsize in July, this transaction represents the firm’s ninth CLO over the past six 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 2023-2 brings the firm’s total CLO assets under management to approximately $2.8 billion. Deerpath CLO 2023-2 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 2023-2 has a four-year reinvestment period.
Derek Dubois, Managing Director and Treasurer said, “Deerpath has continued to programmatically access the debt capital markets at attractive terms for our investors. This is a testament to the strength of our platform as the leading direct lender focused on the lower middle market.”
GreensLedge Capital Markets LLC served as Lead Placement Agent and Structuring Agent. NatWest Markets served as Co-Placement Agent.
About Deerpath Capital Management, LP
Founded in 2007, Deerpath Capital Management, LP is one of the largest providers of customized, cash-flow based senior debt financing to lower-middle market companies across diverse industries. The firm currently manages approximately $7 billion of assets under management. For more information, please visit www.deerpathcapital.com.
Media:
Aidan O’Connor
Prosek Partners (On behalf of Deerpath Capital)
(646) 818-9283
aoconnor@prosek.com
SOURCE Deerpath Capital Management, LP