Antares Capital, a leading alternative asset manager with over $68 billion in assets under management and administration, announced the closing of the firm’s third broadly syndicated loan (BSL) collateralized loan obligation (CLO), Orion CLO 2024-3, totaling $400 million.
Orion CLO 2024-3, which is intended to comply with European risk retention regulations, closed on the heels of significant momentum of the firm’s Liquid Credit platform. The deal received strong investor interest across the debt stack, building further on the platform’s strategy and growing relationships in the Liquid Credit CLO space.
Late last year, the firm closed its second BSL CLO totaling $450 million, which comes shortly after the close of the firm’s inaugural BSL CLO at $450 million and an expansion of the senior Liquid Credit team.
Antares’ Liquid Credit strategy is supported by a private credit CLO platform established in 2017, which focuses on portfolios with borrowers who have demonstrated stable cash flow, established market positions, and resilience through cycles.
The firm is the second largest private credit CLO manager in the U.S. by AUM. And as of March 31, 2024, the firm has approximately $11.1 billion of assets under management across 13 CLOs.
KEY QUOTES:
“We are thrilled by the continued momentum and positive market reception our Liquid Credit strategy has received since its inception last year. Today’s close underscores our credit expertise, investor alignment across our strategies and nearly three decades of experience in credit markets.”
– Vivek Mathew, Head of Asset Management at Antares
“The rapid growth of our Liquid Credit platform in such a short time is a testament to managing one of the industry’s largest and longest-tenured private debt portfolios. We are looking forward to building on our investor relationships with a long-term view of credit markets.”
– Seth Katzenstein, Head of Liquid Credit at Antares
