29 Apr 2020

Permira Debt Managers Announces Pricing of €207.6 million CLO, Providus IV

Permira Debt Managers announced today the pricing of PROVIDUS CLO IV (“Providus IV”), a €207.6m Collateralized Loan Obligation (“CLO”). This marks the fourth CLO since PDM re-launched its CLO management platform in 2018.

In line with Permira Debt Managers’ previous CLOs, Providus IV contains specific ESG eligibility criteria in the documentation, which includes restrictions on the nature of industries in which the CLO can invest.

Ariadna Stefanescu, Partner and Portfolio Manager at PDM, said:

“The successful pricing of Providus IV is a great success for the firm and our CLO strategy, particularly in the context of a more challenging market environment. We have seen continued demand from our investors due to our performance track record and our continuous focus on ESG values. As with our previous Providus CLOs, we have focused our investments towards resilient and forward-looking sectors such as technology and healthcare.”

Thomas Kyriakoudis, CIO at Permira Debt Managers, added:

“Permira Debt Managers’ CLO strategy has grown from strength to strength since we relaunched it in 2018 and Providus IV is a testament to the team’s track record and hard work. We look forward to continuing to deliver for all our investors across all our strategies.”

Funds advised by PDM have been major investors in European CLOs since 2010, in the structured credit strategy, Sigma.

Closing is expected in May 2020 and is subject to customary closing conditions. The collateral manager of Providus IV is Permira Debt Managers Group Holdings Limited.

Permira Debt Managers Announces Pricing of €207.6 million CLO, Providus IV

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