3i Group plc (“3i” or “3i Group”), an international investment manager, today confirmed last week the closing of a €413 million collateralised loan obligation (“CLO”) fund, Harvest XV CLO (“Harvest XV”).
Harvest XV is the first European CLO that 3i has closed in 2016. It will principally focus on investing in senior secured loans backing private equity buyouts in Europe. The vehicle will have a final legal maturity of May 2029.
Jeremy Ghose, CEO and Managing Partner of 3i Debt Management said:
“We are pleased to have successfully closed Harvest XV, our first European CLO this year. This is our eighth European 2.0 CLO that we have issued since September 2013. Our ability to issue CLOs in volatile markets demonstrates investors’ confidence in our platform.”
At 30 September 2015, 3i DM managed 35 funds and had total assets under management of approximately $11.3 billion.
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