M&G Investments has priced the fifth deal in its Margay European collateralised loan obligation (CLO) programme, with investor demand allowing it to upsize the transaction to €457m (£392m).

It is the first Margay CLO since Ontario Teachers’ Pension Plan agreed in July to commit up to €200m to help scale M&G’s European CLO business, the firm said.

“Our fifth CLO transaction builds on more than 30 years of credit investing and expertise and highlights our long-term commitment to the European CLO market,” said Fiona Hagdrup, head of private corporate credit at M&G.

M&G said Margay, launched in 2023, now manages more than €2bn of CLO assets within a broader €10bn loan platform. The programme sits within M&G’s €27bn structured and private credit strategy.

“The successful pricing further strengthens our position in the European CLO market and reflects continued momentum across our private and structured credit business,” M&G said in a LinkedIn post announcing the deal.

M&G refinanced Margay CLO II, which priced at €405.4m in May 2024, in January 2026.