Canyon Partners Launches First European CLO

Alternative assets manager Canyon Partners has entered the European collateralized loan obligation (CLO) market with the pricing of the €404 million ($435 million) Canyon Euro CLO 2022-1 on March 13, 2023.

The deal was arranged by Jefferies Financial Group Inc. and has a two-year non-call period and a four-year reinvestment period.

This deal is the Dallas-based firm’s first European CLO transaction and makes Canyon the first new manager to price a CLO in Europe in 13 months. Canyon priced a US CLO, Canyon CLO 2022-2, in December 2022 and closed their latest CLO equity fund, Canyon CLO Equity Fund III LP, in August.

“Issuing in Europe is a natural extension of our long-standing capabilities in both the US and Europe,” said Erik Miller, Partner and Co-Head of Canyon’s CLO business. “As a global firm, we look forward to providing a more comprehensive product solution for our partners.”

Founded in 1990, Canyon Partners invests across a broad range of asset classes, including distressed loans, corporate bonds, convertible bonds, securitized assets, direct investments, real estate, arbitrage, and event-oriented equities.