LONDON, 23 June 2016 – Spire Partners LLP (“Spire” or the “Company”) announced the successful closing of its second European collateralised loan obligation (“CLO”), Aurium CLO II, yesterday. The €359.7 million CLO, was arranged by Credit Suisse, and the notes listed on the Irish Stock Exchange.
Aurium CLO II Designated Activity Company 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 leverage loans, floating rate notes and fixed rate high yield bonds. Aurium CLO II complies with European risk retention regulation through Spire retaining 5% of each class of rated and unrated notes.
Phil Bennett-Britton, Partner and one of Spire’s Portfolio Managers said: “We are delighted to announce the successful closing of our second CLO. The continued support that we have received from the investor universe demonstrates the desire and strong demand for boutique managers in the European CLO market. The fundraising builds on the success of our inaugural CLO raised last year.”
Spire’s inaugural CLO, Aurium CLO I, was raised in March 2015, and was the first actively managed European CLO raised by a new manager in 2015. It has subsequently been awarded GlobalCapital’s European Deal of the Year 2015, and Best New European CLO at the recent Creditflux Manager Awards 2016.