Deerpath Capital Closes Seventh Collateralized Loan Obligation
NEW YORK, March 10, 2023 /PRNewswire/ — Deerpath Capital Management, LP (“Deerpath”), one of the largest providers of customized, cash-flow based senior debt financing to lower-middle market companies across North America, today announced the closing of its Deerpath CLO 2023-1 (“the Fund”), a $504 million Collateralized Loan Obligation (CLO).
Deerpath CLO 2023-1 represents the seventh CLO issued by Deerpath since 2018 and its largest CLO issuance to date, bringing the firm’s total CLO assets under management to approximately $2.3 billion. The CLO has a four-year reinvestment period and is secured by a large and diversified portfolio of senior secured loans to middle market companies backed by private equity sponsors. The majority of loans in the portfolio were directly originated by the Firm.
Deerpath sold securities rated from AAA through BBB- to third-party institutional investors, including insurance companies, pension funds, banks, and asset managers. Deerpath’s managed funds purchased 100 percent of the subordinated notes issued by the CLO.
“Deerpath continues to demonstrate its ability to access the debt capital markets at attractive terms for our investors,” said Derek Dubois, Managing Director and Treasurer. “This is a testament to the strength of our platform as the leading direct lender focused on the lower middle market.”
GreensLedge Capital Markets LLC served as Lead Placement Agent, Structuring Agent, and Bookrunner. Raymond James served as Co-Placement Agent.
About Deerpath Capital Management, LP
Deerpath Capital Management, LP is one of the largest providers of customized, cash-flow based senior debt financing to lower-middle market companies backed by private equity sponsors across a diverse set of service-based industries. Since being founded in 2007, the firm has deployed more than $8 billion across 800-plus investments. As of March 2023, the firm’s AUM is approximately $6 billion. For more information, please visit www.deerpathcapital.com.
Media:
Aidan O’Connor
Prosek Partners (On behalf of Deerpath Capital)
(646) 818-9283
aoconnor@prosek.com
SOURCE Deerpath Capital Management, LP