Irradiant Partners, LP – an alternative investment manager with over $10 billion in assets under management – recently announced the closing of $411 million in commitments on the third vintage of the Irradiant CLO equity strategy (ICLOP III), eclipsing its fundraising target of $400 million. Over 95% of investors in ICLOP III are returning investors from the last vintage of the strategy.
Irradiant’s CLO equity strategy was first launched in 2017, and the firm has issued 21 CLOs for over $8 billion since its inception. Along with investing in the equity tranche of Irradiant-managed CLOs, ICLOP III also allows for investment in both the equity and mezzanine tranches of third-party managed CLOs, with an intent to add alpha to ICLOP III investors regardless of market environment.
KEY QUOTES:
“We are honored that so many existing ICLOP investors have again entrusted us with their capital, and we thank them for their partnership. We are proud of our performance and excited to continue the expansion of our CLO platform with the successful close of ICLOP III.”
— John Eanes, Irradiant’s Co-CEO
“Since inception, Irradiant-managed CLOs have produced differentiated performance, which is a testament to our portfolio management team, as well as the tremendous efforts of our credit analyst team. We are thrilled to have exceeded our fundraising target for ICLOP III and look forward to continuing to produce compelling returns for our investors.”
— Michael Levitt, Irradiant’s Chairman
