Permira Credit has priced a $504m (£368m) US collateralised loan obligation (CLO), in what is its fourth US CLO pricing since the launch of its US-based CLO platform in November 2024.
The firm said the Menlo CLO IV was upsized “due to strong investor demand”.
Upon closing of Menlo IV, Permira Credit will manage approximately $1.8bn of CLO assets under management (AUM) in the US market, while the firm’s global liquid credit AUM will climb to €7.3bn (£6.3bn).
Read more: Permira Credit prices €405m European CLO
The collateral manager of Menlo IV is Permira US CLO Manager LLC.
The US-based Menlo CLO management business follows the same investment strategy as Permira Credit’s European CLO management business, Providus, with a focus on “resilient” portfolio construction, active portfolio management and responsible investing.
“The successful pricing of our first US CLO of 2026 highlights the strong momentum behind our platform,” Jared Adler, managing director at Permira Credit, said.
“The pace and scale of our growth reflect both the confidence of our investors and our team’s expertise in navigating evolving credit cycles.”
Read more: Permira adds MD to US capital formation team
“Pricing our fourth US deal in 14 months demonstrates a clear recognition of our investment strategy and track record,” said Ariadna Stefanescu, co-head of Permira Credit and head of liquid credit.
She added that the firm continues to see significant opportunity in the US credit market.
Menlo I, a $430.6m upsized transaction was priced in November 2024, followed by Menlo II, which was priced in April 2025 at $404.2m. In September 2025, Permira Credit priced Menlo III at $530.8m.
Permira’s liquid credit business has priced 18 CLOs across Europe and the US over an 18-year period.
