Park Square Capital has expanded its senior debt platform with the launch of a European collateralised loan obligation (CLO) business.
The $19bn (£13.9bn) credit investor said the CLO platform will be co-led by Wlod Wator, principal in Park Square’s London investment team, and Ryan McGahon, who has joined the firm from BlackRock.
Alongside third-party investors, Park Square said it will commit its own balance sheet capital to fund the equity in a number of new CLOs.
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“The launch of our CLO platform marks an important milestone for the firm and a logical next step for our large-size senior debt business,” said Robin Doumar, founder and managing partner at Park Square. “It allows us to extend our high-touch credit picking approach to the broader CLO market.”
The launch of the CLO strategy comes as Park Square’s large-sized senior debt business has invested more than €10bn in European broadly syndicated loans since 2007.
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“Wlod and Ryan’s combined expertise will be central to building a disciplined, high-quality CLO platform that aligns with our long-standing investment approach,” said Matthias Alt, partner and head of credit partners.
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