CIC Private Debt has closed a collateralised loan obligation (CLO) reset at approximately €307.5m (£263.1m).

The asset manager announced the successful close of the reset of Victory Street CLO I via Morgan Stanley.

Read more: Bridgepoint prices €307m reset of debut CLO

“I was particularly encouraged with this reset transaction given that we had an almost 90 per cent investor roll rate (with several upsizing), and especially with the pricing level, which really put us in the tier one bracket,” said Steve Dunn, head of CIC Private Debt, London.

“Our aim has always been to secure a committed investor base and deliver high quality credit portfolios, and this is what we will look to continue to do as we roll out our CLO programme.”

Dunn confirmed that it aims to price Victory Street CLO III later in the year.

Read more: Star Mountain hails ‘strong’ institutional interest at final close of CFO I

Founded in 2003, CIC Private Debt manages €4bn on behalf of institutional and private investors.

The firm, which specialises in direct financing for European SMEs and mid-market companies, has made more than 600 investments since inception.

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