London, 13 March 2023 - Permira Credit, one of Europe’s leading specialist credit investors, today announces the pricing of PROVIDUS CLO VIII (“Providus VIII”), a €398 million European collateralized loan obligation transaction (“CLO”). This marks the eighth CLO from the Providus CLO management platform and continues its strong track record and growth since it was launched in 2018.
Ariadna Stefanescu, Head of Liquid Credit at Permira Credit, said: “This deal is fully aligned with our consistent, four-pillar investment strategy and I’m delighted with the team’s ability to continue to invest and deliver strong performance regardless of market conditions. We thank all of our investors for their continued support and look forward to growing our partnership as the liquid credit platform develops further going forward.”
The Providus CLO management platform remains committed to its four-pillar investment strategy focused on a credit-led approach; active management of the portfolio; focus on resilient sectors, such as technology and healthcare; and responsible investing.
Providus VIII will, as with all other CLOs within Permira Credit’s CLO management platform, contain specific ESG eligibility criteria in the documentation, which includes restrictions on the nature of industries in which the CLO can invest building upon Permira’s leading reputation as the first European CLO manager to include ESG negative screening language with Providus CLO I in 2018.
The pricing is subject to customary closing conditions. The collateral manager of Providus VIII is Permira European CLO Manager LLP.