Deerpath Capital’s second secured loan obligation in 2021 raised to $ 425 million
NEW YORK, December 21, 2021 / PRNewswire / – Deerpath Capital Management, LP, a leading provider of tailored, cash-flow-based senior debt financing to North American lower-middle market companies, today announced the Deerpath CLO 2021-2 fence, a $ 425 million Guaranteed Loan Obligation (CLO).
This CLO represents the fourth CLO issued by Deerpath since 2018 and brings the company’s total CLO assets under management to approximately $ 1.4 billion. Similar to the company’s existing CLOs, Deerpath CLO 2021-2 is secured by a portfolio of senior secured loans primarily issued directly to mid-market private equity firms.
Deerpath sold securities rated AAA to BBB- to third party institutional investors, including insurance companies, pension funds, banks and asset managers. The funds managed by Deerpath purchased 100 percent of the subordinated notes issued by the CLO. The Fund has a four year reinvestment period.
Derek dubois, Managing Director and Treasurer said: “Thanks to strong launches throughout 2021, we were able to issue our fourth mid-market CLO in total, and our second in 2021. Through our programmatic CLO issuance, we have continued to shift loan assets to stronger, cheaper ones. funding. This improves our leveraged returns for our equity investors without creating undue risk. We were pleased with the excellent service and execution provided by Greensledge Capital Markets and Raymond James. ”
GreensLedge Capital Markets LLC served as the Principal Investment Agent, Structuring Agent and Bookrunner. Raymond James served as a co-placement agent.
About Deerpath Capital Management, LP
Founded in 2007, Deerpath Capital Management, LP is a leading provider of personalized, cash-flow-based senior debt financing to lower middle market companies in a variety of industries. For more information, please visit www.deerpathcapital.com.
Prosek Partners (on behalf of Deerpath Capital)
SOURCE Deerpath Capital Management, LP