3i closes largest US CLO on $750m

The Jamestown VI CLO is 3i’s first offering this year.

3i Debt Management, the London-headquartered private debt firm, has closed on a new collateralized loan obligation at $750 million. The US CLO, Jamestown VI, represents 3i's largest CLO to date, across both the US and Europe.

Jamestown VI will focus on investing in US dollar denominated senior secured loans issued by sub-investment grade North American companies, the firm said in a statement today (24 February). The fund has a four-year investment period and a non-call period of two years. 

“We have continued to see appetite from investors in the early part of 2015 and are pleased to have raised our first US CLO fund of 2015. Jamestown VI is our biggest CLO to date and we continue to benefit from strong investor following,” Jeremy Ghose, chief executive and managing partner of 3i Debt Management, said in a statement.

“We were pleased with the support from both debt and equity investors which enabled us to upsize the fund to $750 million,” commented John Fraser, managing partner of 3iDM US. 

As of 30 September 2014, 3iDM managed 32 funds and had total assets under management of about $11 billion. The firm got its start in 2011. 3i Debt Management specializes in managing third-party funds to invest in corporate debt issued by medium and large European and US companies.
3i is an investment firm focused on mid-market private equity, infrastructure and debt management in Europe, North America and Asia.