CVC Credit is pleased to announce that it has priced Cordatus XXIII, a Collateralized Loan Obligation fund totalling €502m, arranged by Jefferies. This is the second new CLO fund CVC Credit has announced globally this year, both of which have priced in the last week. Together these new funds have an aggregate value of nearly €1bn.

Cordatus XXIII was upsized by €100m due to strong support from a diverse book of both new and longstanding investors. As with previous Cordatus funds, Cordatus XXIII is primarily comprised of broadly syndicated First Lien Senior Secured Loans.

Guillaume Tarneaud, Partner and Head of European Performing Credit at CVC Credit, said: "We are thrilled to have priced our first European CLO of 2022, building on our considerable success in 2021 and setting a strong path for 2022. We are especially pleased with the strength of support we have seen from new and existing investors, enabling us to upsize by €100m, despite the challenging market conditions."

Gretchen Bergstresser, Global Head of Performing Credit at CVC Credit, said: "Despite market conditions 2022 has started successfully having just priced our newest US focused Apidos CLO last week. We were delighted with our record performance in 2021, and having already raised nearly €1bn in 2022, we cautiously hope 2022 will continue in a similar vein across our transatlantic platform."