CVC Credit is pleased to announce that it has priced Apidos XXXVIII, a Collateralized Loan Obligation ("CLO") fund totalling $508 million, arranged by Bank of America. This is seventh new CLO fund CVC Credit has priced globally this year with an aggregate value of over $3.5 billion (c.€3 billion).

Apidos XXXVIII will increase CVC Credit's global AUM to $30 billion (€24 billion). The transaction has been structured with a five-year reinvestment period and was well-received by investors, and priced at the tight end of the market. As with previous Apidos funds, Apidos XXXVIII is primarily comprised of broadly syndicated First Lien Senior Secured Loans.

Kevin O'Meara, Partner and Portfolio Manager at CVC Credit, said: "We are delighted to not only have successfully priced our fourth new U.S. CLO of 2021, but also to have raised it from such a wide base of both new and existing global investors, and priced at market tight levels."

Gretchen Bergstresser, Partner and Global Head of Performing Credit at CVC Credit, commented: "2021 has been a year of unprecedented activity for us, with twenty two transactions priced so far and excellent growth across our platform. This is a clear sign of support from both our investors and the market for our leading transatlantic platform. It is also a real testament to the hard work and collaboration of our fantastic teams in London and New York."