THL Credit raises $448m CLO

The Boston-headquartered firm has now completed eight CLOs since 2012, bringing it to $4.1 billion in total issuance.

THL Credit has closed on a $448 million collateralized loan obligation (CLO) led by Deutsche Bank Securities. The Boston-headquartered lender and its THL Credit Senior Loan Strategies subsidiary have now closed eight CLOs totaling $4.1 billion in issuance since December 2012.

“We are delighted with the continued growth and performance of our tradable credit platform,” said Sam Tillinghast (pictured), co-chief executive and co-chief investment officer of THL Credit, in a statement. The new vehicle means the tradable credit platform, led by Brian Good and Jim Fellows, now manages $5.65 billion in assets via separately managed accounts, a public closed-end fund and co-mingled funds. 

The CLO was also the fifth that THL Credit has worked on with the German bank. “Deutsche Bank continues to be an exceptional partner and we look forward to working with Deutsche Bank again in the future,” said Michael Herzig, managing director at THL Credit. 

THL Credit is an alternative credit manager that handles both direct lending and broadly syndicated investments, closed-end funds, a public BDC, CLOs, separately managed accounts and co-mingled funds. The firm is headquartered in Boston and has additional investment teams in Chicago, Houston, Los Angeles and New York.