THL Credit Completes Second Middle Market Collateralized Loan Obligation
September 23 2019 - 3:30PM
THL Credit Advisors LLC ("THL Credit"), a leading alternative
credit manager with $17 billion of AUM, today announced that it has
closed THL Credit Lake Shore CLO II at $306 million (“Lake Shore
II”). The offering represents THL Credit’s second collateralized
loan obligation (“CLO”) that includes middle market leveraged
loans. The previous offering, THL Credit Lake Shore CLO I, closed
in April 2019 at $411 million.
With the completion of this deal, THL Credit and its affiliates
now manage 25 CLOs totaling approximately $13 billion in AUM.
“As one of the largest issuers of CLOs in the U.S., we are well
positioned to generate attractive risk-adjusted returns for
investors,” said Chris Flynn, CEO of THL Credit. “We
appreciate the continued support of our investors who recognize our
leading origination capabilities and expertise in both the direct
lending and tradable credit investment space.”
“We believe our original direct lending business provides a
differentiated value proposition for sponsors and management teams
of high-quality middle market companies,” said Michael A. Herzig,
Managing Director of THL Credit. “As the direct lending
market has grown, CLOs are being used more regularly as part of
that strategy, and many investors view middle market CLOs as an
attractive way to get a premium to the broadly syndicated
market.”
Deutsche Bank served as Lead Manager, Structuring Agent and
Bookrunner.
About THL Credit Advisors LLC
THL Credit is an alternative credit investment manager for both
direct lending and broadly syndicated investments through public
and private vehicles, collateralized loan obligations, separately
managed accounts and co-mingled funds. THL Credit maintains a
variety of advisory and sub-advisory relationships across its
investment platforms.
Forward-Looking Statements
Statements made in this press release may constitute
forward-looking statements. Such statements reflect various
assumptions by the Company concerning anticipated results and are
not guarantees of future performance. The accuracy of such
statements involves known and unknown risks, uncertainties and
other factors that, in some ways, are beyond management’s control,
including the factors described from time to time in filings by the
Company with the Securities and Exchange Commission. The Company
undertakes no duty to update any forward-looking statements made
herein. All forward-looking statements speak only as of the date of
this press release.
Investor Contact:THL Credit Advisors LLCMichael
A. Herzig(212) 829-3101mherzig@thlcredit.com
Media ContactStantonEmily M.
Meringolo(646)-502-3959emeringolo@stantonprm.com
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