Comvest closes second CLO at $650m

Comvest Credit Partners has closed its second collateralised loan obligation (CLO) at $650m (£530m).

It is rated by Standard & Poor’s and collateralised by a diversified portfolio of senior secured loans, originated and managed by Comvest Credit Partners, with a three-year reinvestment period and a two-year non-call period.

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“We continue to leverage Comvest’s longstanding expertise in middle-market credit investment management to expand our alternative credit platform with products that help achieve our fund finance objectives,” said Jason Gelberd, partner, chief operating officer and co-head of direct lending for Comvest Credit Partners.

“We believe access to the CLO market provides an efficient and cost-effective portfolio leverage management tool that also diversifies our funds’ financing base.

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“We are thankful for the confidence of our new and existing investors in our approach.”

Comvest Credit Partners closed its debut collateralised loan obligation (CLO) at $500m in September 2024. At the time, Gelberd said that he was looking forward to expanding the firm’s credit product offering and fund financing sources.

Deutsche Bank Securities served as the lead arranger on Comvest CLO-2. GreensLedge Capital Markets acted as the co-placement agent.

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