Cairn Capital has restructured Cairn CLO III to comply with amended European risk retention requirements. The deal replaces Cairn Capital as the investment manager with Cairn Loan Investments (CLI).
The €306 million Cairn CLO III was the first second generation CLO in Europe following the financial crisis. It was initially issued in March 2013 and fell out of compliance with the European Banking Authority’s risk retention rules following changes to the new regulations.
