CVC Credit Partners ("CVC Credit") is pleased to announce the pricing of Cordatus XVIII, a collateralised loan obligation ("CLO") fund totalling €382.5 million arranged by Deutsche Bank. As with previous Cordatus CLOs, the fund is primarily comprised of broadly syndicated First Lien Senior Secured Loans.

This will be the second CLO fund CVC Credit has raised in Europe in 2020 following the closing of Cordatus XVII in June on €290 million. European CLO assets under management have now reached a new milestone at c.$7.0 billion.

Guillaume Tarneaud, Senior Managing Director and Portfolio Manager at CVC Credit Partners, said: "As with most of the broader economy, 2020 has been a challenging year for CLO markets, but we have knuckled down and thanks to strong investor demand we have been able price our second European CLO this year."

Gretchen Bergstresser, Global Head of Performing Credit at CVC Credit Partners, said: "We are delighted to have priced our second European CLO this year and the third globally. This was again a great team effort across our CLO business, leveraging the joint expertise of both our London and New York offices to get this fund to market.”

Closing is expected in November 2020 and is subject to customary closing conditions.