CTM Asset Management has closed its third collateralised loan obligation (CLO) at $408m (£307.2m).

The CLO, named CTM CLO 2026-3, is backed by a portfolio primarily comprising senior secured, broadly syndicated loans.

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According to CTM, the transaction brings its total CLO assets under management to approximately $1.2bn and marks the third transaction managed by the firm.

“The team at CTM could not be more excited as we continue our growth as a firm with our third CLO,” said CTM chief investment officer and group head Tom Flannery. “Our performance and execution continue to meet our goals.”

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The CLO was arranged by Wells Fargo Securities, which acted as sole bookrunner and initial purchaser.

CTM Asset Management is a US investment manager in the leveraged credit markets, formed out of Chatham Asset Management.

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