Permira Credit has priced its fifth Menlo collateralised loan obligation (CLO) at $428.1m (£316.4m).

The firm said the CLO was upsized due to strong investor demand, reflecting the rapid growth and scalability of the Permira’s US platform, Menlo.

“The US credit market continues to offer compelling opportunities for managers with the infrastructure and expertise to act decisively,” said Ariadna Stefanescu, co-head of Permira Credit and head of liquid credit.

Since launching its US CLO strategy in November 2024, Permira has successfully priced five Menlo CLOs totalling $2.3bn. The latest transaction marks the firm’s 20th CLO priced globally.

“Pricing in the current environment requires both discipline and conviction, and we are pleased to have delivered on both with Menlo V,” said Jared Adler, managing director at Permira. “The transaction reflects our continued focus on building a defensive and attractive portfolio, and participation from both existing and new investors reflects the confidence in our strategy and track record.”

Read more: European CLOs gain traction amid fresh investor demand

Permira Credit is headquartered in London, and alongside the expansion of US platform Menlo, it operates an established European platform, Providus. Following the recent pricing of Providus CLO XV in April 2026, the firm’s global liquid credit platform is set to reach $9.4bn.

Across both platforms, the firm focuses on resilient portfolio construction, active portfolio management, and responsible investing.