European credit specialist AlbaCore Capital Group has announced the successful pricing of its seventh collateralised loan obligation (CLO) at €406.5m (£340m).

This brings the total value of AlbaCore’s CLO platform assets under management from approximately €2.5bn to approximately €2.9bn.

The AlbaCore Euro CLO VII incorporates negative ESG screening criteria in combination with AlbaCore’s fundamental research and risk focused ESG considerations, including restrictions on the industry type in which the CLO can invest.

Read more: CLO issuance volumes hit €10.8bn

“The successful pricing of our latest CLO underscores our ability to deliver compelling credit solutions, even during volatile market conditions,” said Deborah Cohen Malka, partner and portfolio manager at AlbaCore Capital Group.

“We are eager to build upon our past achievements and expand our CLO offering, continuing to provide value in the credit market.”

Read more: Comvest closes second CLO at $650m

“The pricing of CLO VII reinforces CLO management as a key pillar of AlbaCore’s offering to investors at a time when there is increased interest in European credit,” added David Allen, managing partner and chief investment officer at AlbaCore Capital Group.

“Our ability to drive forward our CLO platform is predicated on the mutually beneficial relationships we have built with our clients and our work alongside them to meet their evolving needs.”

The CLO was arranged and placed by Bank of America Merrill Lynch. The closing is expected to take place on 20 May 2025, subject to customary closing conditions.

Read more: Bridgepoint prices its first new issue European CLO of 2025