LONDON, 27 March 2015 – Spire Partners LLP (“Spire” or the “Company”) announced the successful closing of its first European collateralised loan obligation (“CLO”), Aurium CLO I, yesterday.
The €308.8 million CLO, was arranged by Deutsche Bank, and the notes listed on the Irish Stock Exchange. Aurium CLO I Limited predominantly invests in senior secured, broadly syndicated non-investment grade credit, supporting corporates headquartered, or with significant operations, in Europe. The vehicle has the ability to invest in inter alia leveraged loans, floating rate notes and fixed rate high yield bonds.
Jonathan Russell, Spire’s Managing Partner said: “We are delighted to announce the successful closing of our first CLO. The investor appetite we saw throughout the fundraising process, demonstrates there is demand for new managers with a strong investment track record to broaden the existing European CLO proposition.”
Spire’s inaugural CLO is the first actively managed European CLO raised by a new manager in 2015. Aurium CLO I complies with European risk retention regulation through Spire retaining 5% of each class of rated and unrated notes.
Spire Partners LLP
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