CVC Credit Closes $1B CLO Equity Fund, Targets $15B in Issuance

CVC Credit has closed its fourth CLO equity fund with $1 billion in commitments, marking a 25% increase from its predecessor. CVC CLO Equity IV will invest in tranches of CVC-managed CLOs across the U.S. and Europe and is expected to support approximately $15 billion in global CLO issuance over its deployment period. The fund builds on the firm’s established CLO platform, bringing total capital raised across its CLO equity vehicles to roughly $2.7 billion. 

“CVC Credit has experienced strong growth, underpinned by our CLO business, which over the past twenty years has developed into one of the world’s leading CLO platforms,” said Rob Lucas, CEO of CVC plc. 

Since becoming active in the second quarter of last year, the fund has already priced five CLOs totaling more than $2.5 billion and is expected to support over 30 issuances during its lifecycle. 

The close comes amid broader expansion across CVC’s credit platform, including a recent agreement to acquire Marathon Asset Management and a strategic partnership with American International Group that includes up to $2 billion in allocations to CVC’s credit strategies. 

CVC Credit manages approximately €45 billion ($53 billion) in assets across liquid and private credit