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Direct Investment  + CLOs  + Markets  | 
TCW Closes $400M CLO Fund as Part of Diversification Drive

TCW Closes $400M CLO Fund as Part of Diversification Drive

Global asset manager, the TCW Group, closed a $400 million Collateralized Loan Obligation (CLO) fund, TCW CLO 2023-2, Ltd, which is secured primarily by broadly syndicated first lien loans.

CLOs are managed within the Los Angeles-based firm’s $70 billion integrated global credit platform. The latest CLO will be managed by senior portfolio managers Drew Sweeney and Ken Toshima.

“TCW CLO 2023-2 represents TCW’s 10th actively managed CLO, and we plan to prioritize loans and dedicate resources to ensure that the TCW loan platform obtains top tier status in the marketplace,” said Sweeney.

To broaden its services outside more typical fixed-income segments, TCW recently entered a strategic CLO equity investment partnership with UK-based private credit investment firm Lakemore Partners Ltd., to support the growth of TCW’s CLO platform.

The $210 billion investment firm also added to its securitized debt offering with the hire of former senior portfolio manager and head of securitized markets at American Century Investments, Peter Van Gelderen. He will join TCW in October.

Jefferies LLC served as placement agent and structuring agent.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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