CVC Credit

CVC Credit, the €42 billion global credit management business of CVC, is pleased to announce that it has successfully priced Apidos XLIX (49), a new $500m (c.€460m) Collateralized Loan Obligation ("CLO"). This is the eighth new CLO issuance of the year from CVC, which together have an aggregate value of c.$3.9bn (c.€3.6bn). Kevin O’Meara, Partner and Head of US Performing Credit at CVC Credit, said: “Apidos XLIX was well-received by both existing and new investors, which reflects their confidence in CVC Credit’s performing credit strategy and our measured and structured investment approach across cycles. This successful issuance is indicative of the resilience of the U.S. CLO market, where new issue activity and positive return performance have remained buoyant throughout 2024.” Gretchen Bergstresser, Managing Partner and Global Head of Performing Credit at CVC Credit, added: “We appreciate the strong support we continue to receive from our global investor base following the pricing of our eighth new CLO this year. Our team remains committed to delivering consistent performance through all of our CLOs' actively managed, scalable and diversified pool of senior-secured floating rate loans.” https://lnkd.in/eAF4PtcE

Our CVC Credit team reflects on the macroeconomic environment in the first half of 2024 and the expected impact on rates later this year. Find out more in CVC Credit Perspectives. https://lnkd.in/efJeSSae

CVC Credit, the €42 billion global credit management business of CVC, has successfully priced Cordatus XXXII, its seventh new Collateralized Loan Obligation ("CLO") of 2024 at more than €400m (c.$443m). Guillaume Tarneaud, Partner and Head of European Performing Credit at CVC Credit: “We are delighted to have been able to price our latest new CLO at such tight levels, reflecting the trust our investors have in us and the strength and experience of our Performing Credit team. Having priced four new European vehicles so far this year, we are pleased to continue to consolidate CVC's position as one of Europe's most active CLO managers.” Gretchen Bergstresser, Managing Partner and Global Head of Performing Credit at CVC Credit: “Cordatus XXXII is our seventh CLO priced this year, which means we have now priced more than €3.1 billion of CLOs across our transatlantic platform so far in 2024. It has been a great start to the year and we are now excited about the H2.” https://lnkd.in/enk-YfqW

CVC Credit, the €40 billion global credit management business of CVC, is pleased to announce that it has successfully priced Apidos XLVIII (48), a new $500m (c.€460m) Collateralized Loan Obligation ("CLO"). This is the sixth new CLO priced by CVC in 2024, which together have an aggregate value of c.$2.9bn (c.€2.7bn). Kevin O'Meara, Partner and Head of US Performing Credit at CVC Credit, said: “Apidos XLVIII was exceptionally well received by investors, demonstrating the confidence our investors have in CVC Credit’s disciplined and rigorous approach to credit investment and capital deployment.” Gretchen Bergstresser, Managing Partner and Global Head of Performing Credit at CVC Credit, said:  “We are pleased to have priced our third new U.S. CLO of 2024 and our sixth globally, all before the end of H1. We are fortunate at CVC Credit to have an established track record and deep investor relationships who support our new issuance activities.” https://lnkd.in/er7Zf4G9

CVC Credit is pleased to announce that CVC’s private credit team has agreed to provide debt facilities across the capital structure to support the continuing growth strategy of PIB Group (“PIB”), a European diversified insurance intermediary, providing specialist insurance solutions, backed by Funds advised by Apax Partners. https://lnkd.in/eEpzHQqH

CVC Credit, the €40 billion global credit management business of CVC, has priced Cordatus XXXI, its fourth new Collateralized Loan Obligation ("CLO") of 2024. The vehicle totals c.€440m (c.$475m) and increases the aggregate value of CLO vehicles priced by CVC in 2024 to €1.8bn (c.US$2bn). Guillaume Tarneaud, Partner and Head of European Performing Credit at CVC Credit: “In a market affected by macro volatility, this successful pricing further consolidates our position as one of Europe’s most active CLO managers. The nearly €1.8 billion of new CLOs closed in 2024 is a great start to the year and we are excited about what the rest of the year holds.” Gretchen Bergstresser, Managing Partner and Global Head of Performing Credit at CVC Credit: “This will be the seventeenth transaction invested in by our most recent CLO Equity vehicle, which together have an aggregate value of more than €7bn. We continue to be well-positioned to take advantage of a market which is showing signs of a medium-term uptick in new issue loan supply globally.” https://lnkd.in/eEDW3RKW

Our CVC Credit team reflect on how the market has reacted so far this year in relation to notable macro and geopolitical activity, and anticipate the impact on rates later this year.  Find out more in CVC Credit Perspectives. https://lnkd.in/dGQP5xcT

CVC Credit is pleased to announce that it has agreed to provide the debt facilities to support Fremman Capital’s acquisition of Innovative Beauty Group (“IBG”), a beauty and personal care service provider, currently part of the Albéa group. CVC Credit will act as sole lender in this transaction. Christine Weis, Managing Director at CVC Credit, said: “IBG is well-positioned in a dynamic and expanding market, with multiple opportunities to enhance its presence and capabilities across regions, products and customer groups.” Eva Boutillier, Managing Director at CVC Credit added: “We are excited to support IBG’s ambitions, as they begin the next stage of their growth story in partnership with Fremman Capital.” JOHN EMPSON, Managing Partner and Co-Head of Private Credit at CVC Credit, commented: “As part of the CVC Network we have the advantage of being able to tap in to the knowledge of CVC’s leading European private equity platform to assist in our diligence work and price discovery. In the case of IBG, CVC Credit’s ability to draw on the experience of CVC Germany and their sector knowledge gained through their investment in Douglas, Europe's leading specialist cosmetics and beauty retailer, was crucial in winning this opportunity.” https://lnkd.in/eXKVKPVK

CVC Credit, the €40 billion global credit management business of CVC, has priced Cordatus XXX, its third new Collateralized Loan Obligation ("CLO") of 2024. The vehicle totals c.€400m (c.$432m).   Guillaume Tarneaud, Partner and Head of European Performing Credit at CVC Credit said: “The successful pricing of Cordatus XXX further consolidates our position as one of Europe’s most active CLO managers and means we continue to be well-positioned to take advantage of the expected uptick in new issue loan supply across Europe.”   Gretchen Bergstresser, Managing Partner and Global Head of Performing Credit at CVC Credit, said: “The pricing of Cordatus XXX is our third new CLO year to date, which together mean we have now priced nearly €1.4 billion of new CLOs in 2024. This is a great start to the year and we are now excited about Q2 and the second half of the year after that.” https://lnkd.in/e2jUsWqr

Miguel Toney, Partner in our Private Credit business, joined a panel at British Private Equity & Venture Capital Association (BVCA)’s Alternative Fund Strategies Conference discussing what’s next for Private Credit.