TCW closes $400m CLO fund
US-based asset manager TCW Group has closed a $400m (£315.4m) collateralised loan obligation (CLO) fund, following its recent partnership with private credit firm Lakemore Partners.
The TCW CLO 2024-1 fund is secured primarily by broadly syndicated first-lien loans. It will be run by senior portfolio managers Drew Sweeney and Ken Toshima.
TCW now runs 11 CLOs with over $4.5bn of dedicated assets. Its alternative credit assets has doubled since 2020 to $20bn. The CLOs are managed within the group’s $52bn global credit platform.
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“We have worked tirelessly to develop a best-in-class process for the construction and management of CLOs, and are continuously grateful for the trust and confidence our investment partners place in TCW,” Sweeney said.
The fundraise comes after TWC announced a strategic CLO equity investment partnerships with Lakemore Partners to support the growth of its platform.
Jefferies served as placement and structuring agent.
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