THL Credit Raises $511m Alternative Credit fund amidst “global search for yield”

By Daniel Lanyon on Tuesday 20 June 2017

Alternative Lending

The alternative asset manager has now closed $6.5bn worth of CLOs for investors looking for fixed income alternatives.

THL Credit Advisors has closed on a new $511m collateralized loan obligation (CLO) fund, led by Bank of America Merrill Lynch. THL Credit has now closed twelve CLOs portfolios totalling $6.5bn in issuance since December 2012.

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. 

"Our CLO strategy continues to perform well and plays a critical role in our platform," said Sam Tillinghast, Co-CEO of THL Credit. "We're very proud of the work Jim Fellows and Brian Good have accomplished leading our Tradable Credit business, which has contributed significantly in our recent growth to approximately $10bn of assets."

"The global search for yield continues to drive strong demand for CLOs across the capital stack from insurance companies, banks and other institutional investors," said Michael A. Herzig, Managing Director of THL Credit. "BAML was an excellent partner in helping us meet some of this demand and we look forward to working with them again in the future."

Sign up for our newsletters

Your daily 7am download of all things alternative finance and fintech.

Fintech and alternative finance headlines with an exclusive Editor's Note each week. Delivered Monday at midday.