CVC Credit Prices Three CLO Deals in One Week
CVC Credit, the $46 billion global credit management business of CVC, has announced the successful pricing of Apidos LII, a new $400 million (approximately €380 million) Collateralized Loan Obligation (“CLO”), along with the reset of Apidos XLII, which now totals approximately $550 million (around €525 million). These two transactions, alongside the recently announced pricing of Cordatus XXXIV in Europe, mark a robust beginning to 2025 for CVC Credit’s Performing Credit platform. Collectively, these Credit Prices deals bring the total value of new and reset CLO pricings by CVC Credit in early 2025 to approximately $1.9 billion (€1.8 billion), reinforcing the firm’s leadership position in the CLO market and its ability to successfully navigate shifting credit environments.
A Milestone for CVC Credit’s U.S. CLO Market
The pricing of Apidos LII is particularly notable as it represents CVC Credit’s first new U.S. CLO issuance of the year. This transaction was met with strong investor demand, reflecting confidence in CVC’s ability to deliver high-quality, actively managed portfolios. Apidos LII features a five-year reinvestment period and is backed by a diversified portfolio comprising senior secured loans and bonds. At the time of pricing, the portfolio was already over 90% ramped, demonstrating the efficiency of CVC Credit’s structuring and investment process. Deutsche Bank acted as the lead arranger for this transaction, further underscoring the strength of CVC Credit’s partnerships with leading financial institutions.
Reset of Apidos XLII and Market Reception
The reset of Apidos XLII, originally priced in Q4 2022, extends the reinvestment period by an additional five years, providing further flexibility and optimizing the structure to better suit market conditions. The extension allows CVC Credit to continue actively managing Credit Prices the underlying assets, capitalizing on market opportunities while maintaining disciplined risk management. The positive market reception to the reset reflects investor confidence in CVC Credit’s ability to deliver attractive, risk-adjusted returns despite evolving credit conditions.
Industry Insights and Market Conditions
The broader CLO market has seen significant activity in recent months, driven by favorable credit market conditions, continued investor appetite for structured credit, and a stable interest rate environment. CLOs have long been an attractive asset class for institutional investors due to their ability to offer yield enhancement, structural protections, and diversification benefits. The strong Credit Prices demand for Apidos LII and the successful reset of Apidos XLII highlight the resilience of the CLO market and CVC Credit’s ability to execute transactions that align with investor expectations.
According to market analysts, the CLO landscape in 2025 is expected to benefit from several macroeconomic factors, including improved corporate Credit Prices fundamentals, a measured approach to interest rate adjustments by central banks, and increased capital inflows into Credit Prices alternative credit strategies. These conditions create a conducive environment for CLO issuance and refinancing, allowing managers like CVC Credit to optimize structures and enhance investor returns.
Leadership Perspectives on Growth and Strategy
Cary Ho, Partner and Global Head of CLO Origination at CVC Credit, emphasized the significance of these transactions, stating: “The successful pricing of Apidos LII and the reset of Apidos XLII underscore the strength of our CLO business and our ability to capitalize on favorable market conditions. We are pleased to continue delivering consistent performance for our investors through the active management of all our CLO vehicles.” Ho’s statement highlights CVC Credit’s commitment to maintaining a strong presence in the CLO market and leveraging its expertise to drive investor value.
Gretchen Bergstresser, Managing Partner and Global Head of Performing Credit at CVC Credit, echoed similar sentiments, noting: “2025 is off to a strong start, and we remain grateful for Credit Prices the continued support of our investors. Our global team remains committed to delivering attractive, risk-adjusted returns across all market cycles, and we are excited about what’s to come in the rest of the year.” Bergstresser’s remarks reflect CVC Credit’s long-term strategic vision and dedication to sustaining performance across varying market conditions.
CVC Credit’s Legacy in the CLO Market
With nearly two decades of experience in CLO issuance, performing credit, and active portfolio management, CVC Credit has established itself as a leader in structured credit solutions. The firm’s track record of successfully navigating different credit market cycles, coupled with its ability to structure and manage CLOs effectively, has made it a trusted partner for institutional investors globally.
CVC Credit’s approach to CLO management is characterized by a focus on diversification, rigorous credit selection, and proactive portfolio management. By actively Credit Prices monitoring and adjusting portfolios in response to market developments, the firm ensures that its CLO structures remain Credit Prices resilient and aligned with investor objectives. The success of Apidos LII and Apidos XLII further reinforces CVC Credit’s reputation as a premier CLO manager with the expertise to deliver strong risk-adjusted returns.
Future Prospects for CVC Credit
As CVC Credit continues to expand its presence in the global credit markets, the firm is well-positioned to capitalize on emerging opportunities in both the U.S. and European CLO markets. The recent transactions serve as a testament to the strength of CVC Credit’s Performing Credit platform and its ability to execute deals that generate value for investors.
Market participants anticipate continued demand for CLOs in 2025, particularly as investors seek yield in a persistently low-interest-rate environment. CVC Credit’s ability to structure innovative, investor-friendly transactions will be a key differentiator as the firm looks Credit Prices to build on its early successes this year. Additionally, with regulatory developments and evolving investor preferences shaping the structured credit landscape, CVC Credit’s expertise in navigating these complexities will be instrumental in driving its long-term growth.
CVC Credit’s strong start to 2025, marked by the successful pricing of Apidos LII and the reset of Apidos XLII, underscores its position as a leading CLO manager Credit Prices in the global credit markets. These transactions, coupled with the recent pricing of Cordatus XXXIV in Europe, reflect the firm’s ability to execute large-scale deals and adapt to dynamic market conditions. With a seasoned leadership team, a disciplined investment approach, and a commitment to delivering value-driven credit solutions, CVC Credit is well-equipped to navigate the evolving credit landscape and continue driving positive outcomes for its investors in 2025 and beyond.
