Arini Capital Management has issued its eleventh European collateralised loan obligation (CLO), Arini European CLO XI, at €505.6m (£429.9m).

The $20bn alternative asset manager said the deal takes its total global CLO assets under management to $9.7bn, with Arini launching its European CLO platform in November 2023.

“Arini European CLO XI marks the continued growth of our platform, less than three years after its launch,” said Mehdi Kashani, head of structured credit at the firm.

“We are grateful to our investors, arranger and advisers for their continued support and faith in the Arini CLO platform.”

In April, Kashani told Alternative Credit Investor that much of the current focus in European CLOs was concentrated in specific parts of the capital structure, particularly AAA tranches.

“I think that is where the market sees the most value, largely because they have lagged the broad credit market rally, and there are some more tailwinds in regard to regulatory changes, such as Solvency II in January 2027, which will bring insurers into play,” said Kashani.

Founded in 2021, Arini manages strategies including long/short credit, structured credit, opportunistic credit, direct lending and asset-backed finance.

In July, ACI interviewed Arini president Mathew Cestar about the fallout for private credit from the so-called ‘SaaSpocalypse’ and why Europe has not emerged unscathed.

Read more: Arini prices European CLO VII at €615m