The TCW Group – a leading global asset management company – announced that it has closed a $400 million Collateralized Loan Obligation (CLO) fund, TCW CLO 2024-1, Ltd. – secured primarily by broadly syndicated first-lien loans.
Now, TCW manages 11 CLOs with over $4.5 billion of dedicated CLO assets under management (AUM) and over $6.5 billion of broadly syndicated loans.
In the past four years, TCW has more than doubled its alternative credit assets under management. Across TCW’s private credit platform, private asset-backed finance business, CLO liabilities and CLO AUM, TCW now manages nearly $20 billion in alternative credit products. And CLOs are managed within TCW’s $52 billion integrated global credit platform. Senior Portfolio Managers Drew Sweeney and Ken Toshima will lead TCW CLO-2024-1.
TCW recently entered into a strategic CLO equity investment partnership with Lakemore Partners Ltd., a leading private credit investment firm, to support the growth of TCW’s CLO platform.
Jefferies LLC served as placement agent and structuring agent.
KEY QUOTES:
“TCW has a strong heritage in investing in credit markets across the quality and liquidity spectrum, and we view CLOs as a core area of focus and growth.”
- Jerry Cudzil, Fixed Income Generalist Portfolio Manager
“We have worked tirelessly to develop a best-in-class process for the construction and management of CLOs, and are continuously grateful for the trust and confidence our investment partners place in TCW.”
- Drew Sweeney
