Permira Credit has priced a $530m (£388.4m) collateralised loan obligation (CLO), marking its third US CLO pricing since the launch of its US-based CLO management business in November last year.
The specialist credit investor is managing €6.1bn (£5.3bn) of CLO assets globally, upon closing of its latest vehicle, named Menlo CLO III.
Permira said its latest deal was “upsized”, citing “strong investor demand”.
Menlo II was priced in April 2025 at $404m and followed the pricing of Menlo I, a $430.6m upsized transaction in November 2024.
The collateral manager of Menlo III 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.
Since 2018, Providus has adopted a defensive portfolio construction with a focus on sectors such as technology, healthcare, and business services, and has issued 12 CLOs.
Read more: Permira Credit prices 12th European CLO at €403.5m
“Pricing our third US deal in 10 months, in particular with the backdrop of significant volatility in global markets, reflects clear recognition of our established investment strategy and track record,” said Ariadna Stefanescu, head of liquid credit at Permira Credit.
“We continue to believe there is huge opportunity in the US credit market and appreciate the ongoing support from our investors.”
Permira’s credit platform, established in 2008, manages approximately €20bn of assets and is currently investing its fifth direct lending vintage, which closed on €4.5bn of investable capital in 2023.
Read more: Permira benefits from US policy uncertainty as investors flock to Europe
