AXA IM Alts closed five collateralised loan obligation (CLO) transactions over the first half of 2025, totalling $2bn (£1.5bn).

Two closings completed this month – a US CLO, Allegro CLO XVII with $500m on 18 June and the reset of a European CLO, Adagio X Eur CLO DAC, with €330m (£281m) on 24 June.

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Allegro XVII was backed by 21 investors, with 23 supporting Adagio X.

AXA IM Alts said this demand represented “a diverse pool of repeat and new investors, across Europe, North America and Asia”.

These two closings follow the completion earlier this year of Allegro CLO XIX, with $400m.

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The firm also saw notable reset and reissuance activity, closing the reset of Allegro CLO XV, also with $400m and the reissue of Adagio V-S Eur CLO DAC, with €325m.

“These transactions occurred amid recent market volatility and reflect continued investor interest in the CLO asset class, which has been through varying market environment,” said Christophe Fritsch, global head of alternative credit at AXA IM Alts.

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