CVC Credit is pleased to announce that it has priced Apidos XXXV, a Collateralized Loan Obligation ("CLO") fund totalling $500 million. This is the first CLO fund CVC Credit has priced this year and will increase its U.S. CLO assets under management to approximately $10.5 billion.

Pro forma for Apidos XXXV CVC Credit's global CLO assets under management will grow to over $18 billion. In 2020 CVC Credit raised c.$2.0 billion (c.€1.7 billion) through five new CLO funds, and earlier this month, Cordatus IV, one of our existing European CLOs, was reset, successfully upsizing to c.€462 million and extending its reinvestment period by four years.

Arranged by Bank of America and raised from a diverse base of both new and existing investors, Apidos XXXV was multiple times oversubscribed. The fund is primarily comprised of broadly syndicated First Lien Senior Secured Loans.

Kevin O'Meara, Partner and Portfolio Manager at CVC Credit Partners, said: "We are excited to have priced our first new CLO of 2021. As a result of the strong oversubscription across the liability stack, we were able to price all debt tranches at the tight end of guidance. We are pleased with the asset ramp to date and look forward to fully vesting the deal over the coming weeks."

Gretchen Bergstresser, Global Head of Performing Credit at CVC Credit Partners, commented: "2020 was a very turbulent year for credit markets, but despite the many challenges encountered we still raised five new CLOs. I am very hopeful that 2021 will be an even stronger year for our new issuance."