New York-based firms Marathon Asset Management and Deerpath Capital Management have closed on over $900 million in new collateralized loan obligation offerings in recent weeks as demand for collateralized products picks up alongside interest rates moves.
Earlier this month, Marathon Asset Management LP closed its first new CLO of the year with $400 million. The Bryant Park Funding 2023-19 Ltd. offering is under the $20 billion-plus investment firm’s Bryant Park Funding shelf, which focuses on high-quality, liquid, broadly syndicated senior secured loans with an emphasis on capital preservation, lower volatility and structural durability.
Deerpath Capital Management closed on it seventh CLO since 2018. The $504 million issue, Deerpath CLO 2023-1, brings the firm’s CLO assets under management to $2.3 billion.
Volta Finance Ltd (LON:VTA) is a closed-ended limited liability company registered in Guernsey. Volta’s investment objectives are to seek to preserve capital across the credit cycle and to provide a stable stream of income to its Shareholders through dividends that it expects to distribute on a quarterly basis.