Permira Credit Facilitates a $530 Million Third U.S. Collateralized Loan Obligation Arrangement
Permira Credit Expands Global CLO Portfolio with Three Recent Deals
Permira Credit, a leading credit management platform, has made significant strides in its Collateralized Loan Obligation (CLO) business. The company now manages €6.1bn of CLO assets globally, following the successful closure of Menlo CLO III.
The European CLO is the third deal priced by Permira Credit in the last 10 months, demonstrating a consistent growth in the company's CLO portfolio. The latest deal, priced at €403.5m, follows the success of Menlo I, a $430.6m upsized transaction, and Menlo II, priced at $404m in April 2025.
The US-based Menlo CLO management business, like its European counterpart, follows the same investment strategy as Permira Credit's European CLO management business, Providus. Since 2018, Providus has focused on sectors such as technology, healthcare, and business services.
The pricing of Menlo CLO III marks Permira Credit's third US CLO pricing since November last year. This trend is reflective of the ongoing support from investors and the belief in the huge opportunity in the US credit market.
Interestingly, the US policy uncertainty has been beneficial for Permira, as investors have flocked to Europe. This trend has led to the "upsizing" of Permira's latest deal due to strong investor demand.
Ariadna Stefanescu, head of liquid credit at Permira Credit, stated that the pricing reflects recognition of their established investment strategy and track record. The credit platform, established in 2008, adopts a defensive portfolio construction and is currently investing its fifth direct lending vintage, which closed on €4.5bn of investable capital in 2023.
The collateral manager of Menlo III is Permira US CLO Manager LLC. The company continues to believe there is a huge opportunity in the US credit market and looks forward to future successes in both the European and US markets.
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