News

Investcorp closes CLO

Bahrain-based alternative investment manager Investcorp has successfully closed a $292 million collateralised loan obligation (CLO). The loan, titled Harvest CLO XXIV DAC, is the second CLO to be issued by Investcorp so far this year. In March it closed the Harvest CLO XXIII for approximately $575 million, the largest CLO to be issued in Europe so far this year. Investcorp’s 17 Europe-based CLOs have more than $7.5 billion of assets under management while its credit management business manages more than $13 billion in AuM globally. According to Jeremy Ghose, global head of Investcorp credit management, the latest credit loan attracted interest from 19 external investors. The notes in the transaction are subject to a one year non-call and three-year investment period. “We believe the current environment offers attractive opportunities to invest in strong, performing assets at attractive levels,” said Ghose. © 2020 funds global mena

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